HORIZON COLLEGE INTERNATIONAL

ACCOUNTING –YEAR 10

WORK SHEET 1 –T1W1

NAME:…………………………… CLASS: …………………….. MARKS

Question 1

Complete the following table indicating with a tick  whether each item is an asset, liability, income or
expense.

Asset Liability Income Expense

Bank loan
Insurance
Equipment
Depreciation charge

Question 2

Name two books of original entry which a business may keep

1. ……………………………………………….
2. ……………………………………………….

Question 3

Pich sold goods, $5000 on credit to Roger.

a) State the double entry needed to record this transaction.

b) Name the business document issued when this transaction took place and the person who issued it

Document …………………………………………….

The person who issued …………………………

Accounting, Y10 – T1W1 Page 1 of 1