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    Fa1 4&BRS

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    Shahab Shafi
    This document contains sample test questions about recording financial transactions and performing bank reconciliations. The questions cover topics such as entries required in the general ledger for bank charges and outstanding checks, identifying reconciling items that require ledger entries, and determining the correct bank balance for the opening trial balance.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Fa1 4&BRS

    Uploaded by

    Shahab Shafi
    274 views5 pages
    This document contains sample test questions about recording financial transactions and performing bank reconciliations. The questions cover topics such as entries required in the general ledger for bank charges and outstanding checks, identifying reconciling items that require ledger entries, and determining the correct bank balance for the opening trial balance.

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    afd fa1 test

    Original Title

    FA1-4&BRS

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    This document contains sample test questions about recording financial transactions and performing bank reconciliations. The questions cover topics such as entries required in the general ledger for bank charges and outstanding checks, identifying reconciling items that require ledger entries, and determining the correct bank balance for the opening trial balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    274 views5 pages

    Fa1 4&BRS

    Uploaded by

    Shahab Shafi
    This document contains sample test questions about recording financial transactions and performing bank reconciliations. The questions cover topics such as entries required in the general ledger for bank charges and outstanding checks, identifying reconciling items that require ledger entries, and determining the correct bank balance for the opening trial balance.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    FA1 Recording Financial Transactions Test

    NAME
    BATCH TEACHER
    DATE TEACHER ASST
    OBT MARKS TOTAL MARKS

    1
    FA1 Recording Financial Transactions Test

    2
    FA1 Recording Financial Transactions Test

    3
    FA1 Recording Financial Transactions Test

    4
    FA1 Recording Financial Transactions Test

    13. Elaine is preparing her bank reconciliation. She has noted the following:
    (i) The bank has levied charges on her account.
    (ii) A cheque payable to S Wright has not been presented at the bank.
    Which of the above errors require an entry in the bank account in her general ledger?
    A Both (i) and (ii)
    B (i) only
    C Neither (i) nor (ii)
    D (ii) only

    14. Linda found the following when carrying out her bank reconciliation:
    (i) A cheque for $7,523 has not been presented at the bank.
    (ii) A cheque for $560 has been incorrectly recorded as $650 in Linda's ledger.
    Which of these items will require an entry in Linda's general ledger?
    A (i) only
    B (ii) only
    C Both (i) and (ii)
    D Neither (i) nor (ii)4

    15. At 30 April 20X8 the balance on the bank account in Jim’s general ledger showed that he had $685
    cash at the bank. When he carried out his bank reconciliation, he found that he had omitted bank
    charges of $722 for the year to 30 April 20X8.
    What bank balance should be included on Jim’s opening trial balance at 1 May 20X8?
    A $685 debit
    B $685 credit
    C $37 debit
    D $37 credit

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