Scribd
Upload
438 views3 pages

BHF Accounting Exam: Full Name: Date of Test: Time Start: Time End: Facilitated By: Mechanics

The document is a questionnaire for an accounting exam testing knowledge of journal entries. It provides 12 transactions to record journal entries for, along with the correct answers. It then provides 8 adjusting entries to record, again with the correct answers. The exam tests understanding of basic accounting concepts like recording sales, expenses, asset/liability accounts, and adjusting entries. It aims to evaluate if the applicant has sufficient knowledge of journal entries for accounting tasks.

Uploaded by

iptrcrml
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
438 views3 pages

BHF Accounting Exam: Full Name: Date of Test: Time Start: Time End: Facilitated By: Mechanics

The document is a questionnaire for an accounting exam testing knowledge of journal entries. It provides 12 transactions to record journal entries for, along with the correct answers. It then provides 8 adjusting entries to record, again with the correct answers. The exam tests understanding of basic accounting concepts like recording sales, expenses, asset/liability accounts, and adjusting entries. It aims to evaluate if the applicant has sufficient knowledge of journal entries for accounting tasks.

Uploaded by

iptrcrml
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLSX, PDF, TXT or read online on Scribd
You are on page 1/ 3

QUESTIONNAIRE - ACCOUNTING COURSE or COURSES WITH ACCOUNTING UNITS:

BHF ACCOUNTING EXAM

Full name: PATRICIA JEN ROMULO


Date of test: OCTOBER 29, 2020
Time Start: 03:12
Time End:
Facilitated by:

MECHANICS:
1. The test will be about journal entries. We will test if you are knowledgeable with the basic concepts of journal entry.
2. Applicant will be given a time limit of 40 MINUTES for the whole exam (PART A and B). You may submit before the
time ends. Once 40 minutes is up you must stop answering.
3. Applicant will answer on the provided spaces in the excel sheet.
4. HR personnel will get back to the applicant for the result.
QUESTIONNAIRE - ACCOUNTING COURSE or COURSES WITH ACCOUNTING UNITS:

JOURNAL ENTRY:
A. Record the following transactions.

1 Purchases worth 145,000 with 10% discount was paid on cash


2 Accounts payable of supplies to Malayan worth 23,000 was paid on check by the disbursing officer
3 Sales worth 369,000 was deposited
Net salaries worth 58, 000 was paid in check showing list of deductions in the payroll summary: SSS 6,300.00, Philhealth
4
2,765.00, Employees Fidelity bond 1,390.00, withholding tax 586.000 and salary advances 4,500.00
5 Paid bank loan monthly remittance 30,000
6 Sales worth 389,900 with sales return worth 2,300 and sales discount of 3% base on the gross sales
7 Collection from A/R collectors was submitted to the cashiers worth 98,000
8 The branch manager purchase store cleaning supplies 2,900.00
9 Drivers submitted gasoline charge invoice 7,500.00
10 Salary of apprentice/trainee was paid 34,000
11 Paid in bank overnight surcharge 1,200,000
12 Paid the following: Salesman incentive 3,400, store rent 6,000, City services 3,200

ANSWERS:
NO. PARTICULARS DEBIT CREDIT
1 Purchase 145,000
Discount 14,500
Cash 130,500
2 Accounts payable 23,000
Cash 23,000
3 Cash 369,000
Sales 369,000
4 Salaries & Wages Expenses 58000
salaries 42,459
sss 6,300
philhealth 2,765
fidelity bond 1,390
tax 586
salary advances 4,500
5 cash 30,000
loan payable 30,000
6 cash receivable 389,900
sales return 2,300
sales discount 11,697
sales 375,903
7 accounts receivable 98,000
collection 98,000
8 supplies 2,900
cash 2,900
9 gas expenses 7,500
cash 7,500
10 salary 34,000
cash 34,000
11 account payables 1,200,000
cash in bank 1,200,000
12 expenses 12,600
salesman's incentives 3400
store rent 6000
city services 3,200

B. Record adjusting entries of the following

1 Bank Charges erroneously charge to our account 1,600.00 by the bank


2 From the purchases made, the warehouse declared defective for return to suppliers 22,000
3 Additional capital from the owner was not recorded 200,000, it was made on Cash
4 Salary paid to apprentice was recorded as 22,000 instead of 42,000
5 33,000 loan interest from the bank was not yet recorded but already paid
6 Sales was overstated amounting to 90,000, this amount should be customer’s refund due to defective items
7 Sales discount was erroneously recorded as 586 instead of 865
8 Gasoline was erroneously charge to vehicle repair and maintenance worth 900

ANSWERS:
NO. PARTICULARS DEBIT CREDIT
1 bank charges 1,600
accrued bank charge 1,600
2 accounts payable 22,000
purchase return 22,000
3 account receivable 200,000
additional capital 200,000
4 salary expenses wrong entry 20,000
accrued salaries expenses 20,000
5 accounts receivable not yet recorded 33,000
interest of loan 33,000
6 sales refund 90,000
refund for customer defective items 90,000
7 over stated sales discount 279
sales discount 279
8 expenses 900
repair and maintenance 900
9

10

11

12

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy