Chapter 5 - Cash Journals Test

1. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 1
Chapter 5 Test – Cash Journals
Name ___________________________________________
Circle the correct response for each question:
1. (a) (b) (c) (d)
2. (a) (b) (c) (d)
3. (a) (b) (c) (d)
4. (a) (b) (c) (d)
5. (a) (b) (c) (d)
6. (a) (b) (c) (d)
7. (a) (b) (c) (d)
8. (a) (b) (c) (d)
9. (a) (b) (c) (d)
10. (a) (b) (c) (d)
11. (a) (b) (c) (d)
12. (a) (b) (c) (d)
13. (a) (b) (c) (d)
14. (a) (b) (c) (d)
15. (a) (b) (c) (d)
16. (a) (b) (c) (d)
17. (a) (b) (c) (d)
18. (a) (b) (c) (d)
19. (a) (b) (c) (d)
20. (a) (b) (c) (d)
21. (a) (b) (c) (d)
22. (a) (b) (c) (d)
23. (a) (b) (c) (d)
24. (a) (b) (c) (d)
25. (a) (b) (c) (d)
Total /25 marks

2. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 2
Chapter 5 Test – Cash Journals
1. The source document used to verify transactions entered in the Cash Receipts Journal is:
a) Sales invoice
b) Cheque butt
c) Receipt
d) Purchase invoice
2. The source document used to verify transactions entered in the Cash Payments Journal is:
a) Cheque butt
b) Purchase invoice
c) Cheque
d) Receipt
3. Which of the following transactions would not be recorded in the Cash Receipts Journal?
a) Cash sale
b) Loan repayment
c) Capital contribution
d) GST received
4. Which of the following transactions would not be recorded in the Cash Payments Journal?
a) Loan repayment
b) Asset purchases
c) Creditor payments
d) Debtor collections
5. A sale made on credit to a customer would be recorded in the:
a) Cash Receipts Journal
b) Cash Payments Journal
c) Sales Journal
d) Purchases Journal
6. The purchase of stock for cash would be recorded in the:
a) Cash Receipts Journal
b) Cash Payments Journal
c) Sales Journal
d) Purchases Journal
7. The purchase of stock on credit would be recorded in the:
a) Cash Receipts Journal
b) Cash Payments Journal
c) Sales Journal
d) Purchases Journal

3. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 3
8. In the Cash Receipts Journal and the Cash Payments Journal, the columns used to record the
firm’s regularly occurring transactions are called:
a) Sundries columns
b) Transaction columns
c) Special columns
d) Journal columns
9. The Sundries Column in cash journals is used to record:
a) Transactions that occur regularly
b) Transactions that do not occur regularly
c) Only transactions that do not occur regularly that include GST
d) Only transactions that do not occur regularly that do not include GST
10. Which of the following headings would you not expect to see in the Cash Receipts Journal?
a) Discount revenue
b) Debtors
c) Discount expense
d) Cost of sale
11. Which of the following headings would you not expect to see in the Cash Payments Journal?
a) Discount expense
b) Creditors
c) Drawings
d) Discount revenue
12. A firm had the following totals in its Cash Receipts Journal for the current period.
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Mar 31 Totals 10110 100 2600 2150 6600 350 660
The correct posting to the firm’s Cash at Bank ledger is:
a)
Cash at Bank [A]
31/3 Cash receipts 10110
b)
Cash at Bank [A]
31/3 Cash receipts 10110

4. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 4
c)
Cash at Bank [A]
31/3 Cash receipts 7610
d)
Cash at Bank [A]
31/3 Cash receipts 7610
13. A firm had the following totals in its Cash Payments Journal for the current period.
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Drawings Wages Sundries GST
May 31 Totals 9702 40 540 5460 700 1960 500 582
The correct posting to the firm’s Cash at Bank ledger is:
a)
Cash at Bank [A]
31/5 Cash payments 9202
b)
Cash at Bank [A]
31/5 Cash payments 9702
c)
Cash at Bank [A]
31/5 Cash payments 9202
d)
Cash at Bank [A]
31/5 Cash payments 9702

5. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 5
14. On March 13th
2015 a firm received an invoice from a creditor for $5,000 plus $500 GST with
credit terms of 5/14, n/30. The firm repaid the invoice on March 27th
2015. The amount due will
be:
a) $5,000
b) $5,500
c) $5,225
d) $5,250
15. On December 21st
2015 a firm received an invoice from a creditor for $6,500 plus GST with
credit terms of 2/14, n/60. The firm repaid the invoice on January 2nd
2016. The amount due will
be:
a) $7,150
b) $7,007
c) $6,370
d) $7,020
16. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Nov 30 Totals 50 750 3000 7800 200 780
The total of the Bank column will be:
a) $9,480
b) $9,530
c) $9,580
d) $9,280
17. A firm had the following Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Drawings Wages Sundries GST
Jul 31 Totals 250 2250 800 450 700 500 125
The total of the Bank column will be:
a) $4,825
b) $4,575
c) $4,075
d) $4,325

6. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 6
18. A firm had the following Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Wages Drawings Sundries GST
Oct 31 Totals 6794 65 3135 1540 800 900 184
The total of the Wages column will be:
a) $600
b) $300
c) $170
d) $235
19. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Feb 28 Totals 12385 70 900 2050 9000 205
The total of the Debtors Control column will be:
a) $1,130
b) $1,060
c) $1,270
d) $1,200
20. A firm had the following Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Wages Drawings Sundries GST
Oct 31 Totals 32400 1200 2000 17500 2000 1100 3400
The total of the Creditors Control column will be:
a) $6,400
b) $8,800
c) $5,200
d) $7,600

7. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 7
21. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Nov 30 Totals 26230 270 11900 12000 1400 1200
Assuming the firm applies a 50% mark‐up on sales, the total of the Cost of Sales column will be:
a) $8,000
b) $6,000
c) $4,000
d) $24,000
22. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Dec 31 Totals 8190 100 1450 2100 4400 440 2000
Based on this information, which of the following ledgers is correct?
a)
Debtors [A]
31/12 Cash 1350
31/12 Discount expense 100
b)
Debtors [A]
31/12 Cash/Discount expense 1350
c)
Debtors [A]
31/12 Cash/Discount expense 1450
d)
Debtors [A]
31/12 Cash 1450
31/12 Discount expense 100

8. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 8
23. A firm had the following Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Wages Drawings Sundries GST
Oct 31 Totals 4827 120 1400 1200 380 1600 190 177
Based on this information, which of the following ledgers is correct?
a)
Wages [E]
31/10 Cash 380
b)
Wages [E]
31/10 Cash 380
c)
Wages [E]
31/10 Cash 380
31/10 GST 38
d)
Wages [E]
1/10 Cash 380

9. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 9
24. A firm had the following Cash Receipts Journal:
Cash Receipts Journal
Date Details Receipt
No.
Bank Discount
Expense
Debtors
Control
Cost of
Sales
Sales Sundries GST
Jan 31 Totals 8190 100 1450 2100 4400 440 2000
Based on this information, which of the following ledgers is correct?
a)
Stock [A]
31/1 Cost of sales 2100
b)
Cost of Sales [E]
31/1 Sales 2100
c)
Cost of Sales [E]
31/1 Stock 2100
d)
Cost of Sales [E]
31/1 Cost of sales 2100

10. VCE ACCOUNTING
UNIT 3 – RECORDING AND REPORTING FOR A TRADING BUSINESS
CHAPTER 5 – CASH JOURNALS
© Michael Allison, Trinity Grammar School.
Author’s permission required for external use
Page | 10
25. A firm had the following details in the Sundries column of its Cash Payments Journal:
Cash Payments Journal
Date Details Chq.
No.
Bank Discount
Revenue
Creditors
Control
Stock
Control
Wages Drawings Sundries GST
13 Jun Insurance 117 1320 1200 120
28 Jun Rent 132 3960 3600 360
30 Jun Totals 5280 4800 480
Based on this information, which of the following ledgers is correct?
a)
Sundries [E]
30/6 Cash 4800
b)
Sundries [E]
30/6 Insurance 1200
30/6 Rent 3600
c)
Insurance [E]
13/6 Cash 1200
Rent [E]
28/6 Cash 3600
d)
Insurance [E]
30/6 Cash 1200
Rent [E]
30/6 Cash 3600