1. Copy and fill in the blanks. a. The relevant totals from the _________ _________ _________ are posted to the general ledger. b. The debit side of the general ledger is used for recording ___________ and ___________. c. The credit side of the general ledger is used for recording _________, _________ and _________.
d. Cash or assets that are expected to be converted into cash within one year are ___________ assets. Long-term assets are ___________ assets.
e. Money that is owed by the business within one year is a ___________ liability. f. Money that is owed by the business over a term of more than one year is a __________ liability.
g. The general ledger provides a business with the information it needs to prepare a ___________ balance.
2. Explain the difference between an analysed cash book and a general ledger. 3. Copy and complete the table by ticking the correct boxes. Asset
Liability Land
Light and heat due Wages owed Premises Creditors Machinery
4. Copy and complete the table by ticking the correct boxes. Income
Expense
Rent Sales Wages Grant
Light and heat Share capital
5. Look at the general ledger below and write a sentence to explain each entry. DR
GENERAL LEDGER Date 30/4 Bank 30/4 Bank Details ACB ACB
F Total Date Wages account 12,400
Purchases account 6,500
Sales account 30/4 Bank
30/4 Bank 30/4 Bank ACB ACB
Equipment account 14,250
Light and heat account 930
287 ACB 15,800 Details CR F Total Debit entry Credit entry
