EMS REVISION
PAPER 1 –ACCOUNTING
GRADE 8
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EMS Revision Test
June Examination – Paper 1
127
Accounting
SECTION 1
Define the following terms: (11 marks)
1. Capital
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2. Drawings
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3. Financial records
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4. Debtors
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5. Cash float
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6. Fixed assets
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7. Current assets
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8. Debit
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_________________________________________________________
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9. Credit
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10. CRJ (Cash Receipts Journal)
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11. CPJ (Cash Payments Journal)
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SECTION 2
State whether the following accounts are assets, liabilities, income,
expenses or owner’s equity. (60 marks)
Account:
Type of account:
1. Bank
2. Sales
3. Rent income
4. Trading stock
5. Capital
6. Drawings
7. Motor Vehicle Expense
8. Sales
9. Petty cash
10. Creditors control
11. Debtor
12. Bank overdraft
13. Loan
14. Land & Buildings
15. Cash float
16. Furniture & Equipment
17. Advertising
18. Interest income
19. Water & Electricity
20. Salaries
21. Wages
22. Repairs & maintenance
23. Rent expense
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24. Current income
25. Drawings
26. Insurance
27. Debtors control
28. Commission Income
29. Salaries
29. Consumable stores
30. Debtors allowance
31. Advertising
32. Bank
33. Rates & taxes
34. Fixed deposit
35. Motor Vehicle
36. Trading stock
37. Creditors control
38. Cost of sales
39. Consumable stores
40. Capital
41. Rent Expense
42. Commission income
43. Loan
44. Bank
45. Insurance
46. Debtors Control
47. Stationary
48. Interest income
49. Sales
50. Telephone
51. Advertising
52. Cost of sales
53. Interest expense
54. Water & electricity
55. Motor Vehicle Expense
56. Repairs & maintenance
57. Creditors control
58. Rent income
59. Rent income
60. Drawings
SECTION 3
THE ACCOUNTING CYCLE (13 marks)
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Below is the Accounting cycle. Fill in the blanks.
1. Transactions
4. General ledger
2. ____________________
5. _____________________
3. ____________________
6. Financial statements
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1. _________________________
2. Source documents
3. _________________________
4. _________________________
5. Trial balance
6. _________________________
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Fill in the below Acc. Cycle.
1. _____________________________
2. _____________________________
3. _____________________________
4. _____________________________
5. _____________________________
6. _____________________________
SECTION 4
Answer the following questions
1.1. What is the Accounting Cycle? (2)
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1.2. What do ‘Transactions’ refer to) (1)
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1.3. State the TWO types of parties that can take part in a transaction
(2)
 ______________________________________
 ______________________________________
1.4.1. If money is paid immediately, it is _______________transaction.
1.4.2. If money is paid later, it is a ________________ transaction.(1+1)
2. What do source documents refer to? (2)
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3. What are subsidiary journals? (2)
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_________________________________________________________
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4. Name the part of the Accounting Cycle: (1+1=2)
4.1. It is a list of all the balances and totals of all accounts in the general
ledger, from both debt and credit side.
_____________________________
4.2. They are used to record the totals of all assets from the subsidiary
journals. (It serves as a summary of subsidiary journals)
___________________________
5. State the two types of financial statements (2)
 _____________________________________
 _____________________________________
6. Describe ‘Income statement’ (2)
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7. Describe ‘Balance Sheet’ (2)
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8. What is a service business? (1)
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9. Cash transactions are recorded in which two journals? (2)
 ________________________________
 ________________________________
10. Complete the following
Cash journals of service business
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They use cash receipt journals to record money ___________________
and cash payments journals to record money _____________________.
SECTION 4
The rule of A L E I – C D
Complete the following:
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SECTION 5
Cash Receipts Journal
Answer the following.
In CRJ, you Dr __________________ and Cr __________________
State whether true or false:
There is an exception to the rule for CRJ. _____________________
SECTION 6
Cash Payments Journal
In CPJ, you Dr ___________________ and Cr __________________
State whether true or false:
There is an exception to the rule for CPJ. _____________________
The End
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