ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
1.
2. Which of the following would require
Bank charges and returned
adjust- ments to the cash at cash cheques
account in a bank reconciliation?
Unpresented cheques and
1. Bank charges uncleared lodgements are just
2. Unpresented cheques timing ditterences
3. Returned cheques
4. Uncleared lodgements
3. What is the double entry for VAT (purchases)? D/R Purchases (Net)
D/R VAT
C/R Trade Payables (Gross)
4. What is the double entry for VAT (sales)? D/R Trade Receivables (Gross)
C/R VAT
C/R Sales (net)
5. What is the double entry for Disposal of NCA? 1. Remove cost of
asset
(3 steps) increase in
allowance for
receivables?
6. What is the double entry for an
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
R Disposal C/R NCA
2. Remove acc dpn to date D/R Acc Dpn
R Disposal
3. Account for sales proceeds D/R Cash
R Disposal
R Irrecoverable Debts Expense C/R Allowance for Receivables
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
7. What is the double entry for accruals? D/R Expense
C/R Accrual
8. What is the double entry for prepayments? D/R Prepayment
C/R Expense
9. What is the double entry for contra asset? D/R Trade Payables
C/R Trade Receivables
by the amount to wipe ott the
account
10. What is the double entry for a bonus issue of D/R Share Premium (or
retained earn-
shares? ings)
C/R Share Capital
11. What is the double entry for an issue of share D/R Cash
capital? C/R Share Capital C/R
Share Premium
12. Double entry - taking advantage of D/R
an Payables (liability decreases) C/R
early settlement discount when Purchases (expenses decrease)
originally not ex- pected to C/r Cash (assets decrease)
13. What is the formula for total payroll cost? Gross pay + Employer NI +
Employer
pensions = Total payroll cost
14. How would you calculate a company's docu- ments?
total net payment to its employees?
15. What are some examples of source
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
Gross pay (-) PAYE
(-) NI (employees) Petty cash book
= Net pay to employees Bank transaction report
16.
1.
2. Which of the following would require
Bank charges and returned
adjust- ments to the cash at cash cheques
account in a bank reconciliation?
Unpresented cheques and
1. Bank charges uncleared lodgements are just
2. Unpresented cheques timing ditterences
3. Returned cheques
4. Uncleared lodgements
3. What is the double entry for VAT (purchases)? D/R Purchases (Net)
D/R VAT
C/R Trade Payables (Gross)
4. What is the double entry for VAT (sales)? D/R Trade Receivables (Gross)
C/R VAT
C/R Sales (net)
5. What is the double entry for Disposal of NCA? 1. Remove cost of
asset
(3 steps) increase in
allowance for
receivables?
6. What is the double entry for an
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
R Disposal C/R NCA
2. Remove acc dpn to date D/R Acc Dpn
R Disposal
3. Account for sales proceeds D/R Cash
R Disposal
R Irrecoverable Debts Expense C/R Allowance for Receivables
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
7. What is the double entry for accruals? D/R Expense
C/R Accrual
8. What is the double entry for prepayments? D/R Prepayment
C/R Expense
9. What is the double entry for contra asset? D/R Trade Payables
C/R Trade Receivables
by the amount to wipe ott the
account
10. What is the double entry for a bonus issue of D/R Share Premium (or
retained earn-
shares? ings)
C/R Share Capital
11. What is the double entry for an issue of share D/R Cash
capital? C/R Share Capital C/R
Share Premium
12. Double entry - taking advantage of D/R
an Payables (liability decreases) C/R
early settlement discount when Purchases (expenses decrease)
originally not ex- pected to C/r Cash (assets decrease)
13. What is the formula for total payroll cost? Gross pay + Employer NI +
Employer
pensions = Total payroll cost
14. How would you calculate a company's docu- ments?
total net payment to its employees?
15. What are some examples of source
, ACA ACCOUNTING EXAM QUESTIONS WIYH COMPLETE ANSWERS
Gross pay (-) PAYE
(-) NI (employees) Petty cash book
= Net pay to employees Bank transaction report
16.
