Question 4 (8 marks)

a. 2 marks

Calculation

Insurance expense $

b. 3 marks
Prepaid Insurance Expense
Date Cross-reference Amount Date Cross-reference Amount

c. 3 marks
Increase / Decrease / No effect Amount
Assets

Liabilities

Owner’s equity

Question 5 (9 marks)
a. 1 mark

Calculation

Interest expense $

b. 3 marks
General Journal
General Ledger
Date Details Debit Credit

c. 2 marks
1
General Journal
General Ledger
Date Details Debit Credit

d. 3 marks

Explanation

Question 6 (13 marks)

a. 1 mark

Calculation

Cost of new workbench saw $

b. 2 marks
Roslyn’s Carpentry Services
Balance Sheet (extract) as at 31 December 2014

$ $

c. 2 marks

Calculation

Depreciation of Equipment for the year ended 30 June 2015 $

d. 2 marks
General Journal
Date Details Debit Credit

2
e. 3 marks
Roslyn’s Carpentry Services
Balance Sheet (extract) as at 30 June 2015

$ $

f. 3 marks
Accumulated depreciation of Equipment
Date Cross-reference Amount Date Cross-reference Amount

Question 7 (16 marks)

a. 3 marks
General Journal
Date Details Debit Credit
b.
Artistic Expressions 3 marks
Income Statement for the year ended 31 December 2014
$ $

c. 3 marks
Capital - Johnson
Date Cross-reference Amount Date Cross-reference Amount

d. 4 marks
Artistic Expressions
Balance Sheet (extract) as at 31 December 2014
$ $
Owner’s Equity

4
e. 3 marks

Explanation