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NỘI DUNG ÔN TẬP
MÔN: TACN KẾ TỐN 1 (AC10)
PHẦN 1: NỘI DUNG ƠN TẬP
1.Tóm tắt kiến thức mỗi bài
2.Bài tập mẫu
PHẦN 2: BÀI TẬP THỰC HÀNH
• Tài liệu ơn tập:
- Học liệu điện tử đã cung cấp ở lớp học trên
LMS
- Bài giảng trực tuyến
- V-class

1


PHẦN 1: NỘI DUNG ÔN TẬP
LESSON 1: THE ACCOUNTING EQUATION AND
TRANSACTIONS THROUGH ‘DOUBLE ENTRY’
SUMMARY
1. The accounting equation
Assets = Capital + Liabilities

2. Double-entry rules

Assets

Capital

Liabilities

Transaction effect

Double-entry rule

an increase

Debit

a decrease

Credit

an increase

Credit

a decrease

Debit

an increase

Credit

a decrease

Debit

3. Important points to remember from this lesson:
1. Book-keeping is the process of recording financial transactions in the books of a
business.
2. The accounting equation is Assets = Capital + Liabilities
3. Both sides of the accounting equation must always be equal
4. The accounting equation is expressed in the balance sheet, so the balance sheet should
always balance, i.e. totals of both sides must be the same.
5. The double entry system records transactions into a set of accounts show the double
effect of every transaction.
6. An account is a separate record for each asset, liability and capital.
7. The left-hand side of the ‘T’ accounts is called the debit side and the right-hand side is
called the credit side.

2


8. There are specific double entry rules for assets, liabilities and capital to show their
increases and decreases.
9. There must be a debit entry and a corresponding credit entry of the same value (and
vice-versa) for every transaction.
10. Entries in accounts must show the date, description and the amount for each
transaction.

EXERCISES
Exercise 1:
Draw up the following table. In the right-hand columns you should enter the names
of the accounts which are to be debited and credited respectively.
Transactions
A

Bought office furniture for cash

B

Sold goods on credit to T Rich

C

Bought motor vehicle on credit from L Wolfson & Co

D

A debtor, R Price, pays the business by cheque

E

The owner puts a further amount into the business by

Debit

Credit

cheque
F

Paid by cheque for the motor vehicle bought from L
Wolfson & Co

Exercise 2:
Prepare T-accounts in the books of N Eley to record the following transactions:

Year 5:
Aug

1

Started business with £6,000 in the bank

“

6

Bought a motor vehicle on credit from Elstead Garage for £2,800

“

15

Purchased goods by cheque £420

“

23

Bought office equipment on credit from Logmore & Sons for £370

“

29

Paid by cheque the amount due to Elstead Garage

3


ANSWERS
Exercise 1:
Transactions
Bought office furniture for cash

Debit
office

Credit
Cash

B

Sold goods on credit to T Rich

furniture
T Rich

Goods

C

Bought motor vehicle on credit from L Wolfson

motor

L Wolfson

D

& Co
A debtor, R Price, pays the business by cheque

vehicle
Bank

& Co
R Price

E

The owner puts a further amount into the

Bank

Capital

F

business by cheque
Paid by cheque for the motor vehicle bought

L Wolfson

Bank

A

from L Wolfson & Co
Explanations

& Co

A

Transaction effect
Increase of asset: office furniture

Book-keeping action
debit office furniture account

B

Decrease of asset: cash
Increase of asset: debtor T Rich

credit Cash account
debit T Rich a/c

C

Decrease of asset: goods
Increase of asset: motor vehicle

credit Cash a/c
debit motor vehicle a/c

Increase of liability: creditor L Wolfson &

credit L Wolfson & Co a/c

D

Co
Increase of asset: Cash

debit cash a/c

E

Decrease of asset: debtor R Price
Increase of asset: Cash at bank

credit R Price a/c
debit Bank a/c

F

Increase of Capital
credit capital a/c
Decrease of liability from L Wolfson & Co debit L Wolfson & Co a/c
Decrease of asset: Cash at bank
credit Bank a/c

Exercise 2:
Year 5
Aug 1

Transaction effect
Increase of asset: Cash at bank

Book-keeping action
debit Bank a/c £6,000

Increase of Capital

credit capital a/c £6,000
Bank

Year 5
Aug 1

£
Capital

6,000
4


Capital
Year 5
Aug 1
Year 5
Aug 6

£
Bank

6,000

Transaction effect
Increase of asset: motor vehicle

Book-keeping action
Dr Bank £2,800

Increase of liability: creditor Elstead

Cr Elstead Garage £2,800

Garage
Motor vehicle
Year 5
Aug 6

£
Elstead Garage

2,800
Elstead Garage
Year 5

£

Aug 6 Motor vehicle

2,800

Year 5
Transaction effect
Aug 15 Increase of asset: goods

Book-keeping action
Dr Goods £420

Decrease of asset: Bank

Cr Bank £420
Goods

Year 5
Aug 15

£
Bank

420
Bank
Year 5
Aug 15

Year 5
Transaction effect
Aug 23 Increase of asset: office equipment

£
Goods

420

Book-keeping action
Dr office equipment £370

Increase of Liability: Logmore & Sons
Cr Logmore & Sons £370
Office equipment
Year 5
Aug 23

£
Logmore & Sons

370
Logmore & Sons
Year 5

£

Aug 23 Office equipment 370
Year 5
Transaction effect
Aug 29 Decrease of Liability: Elstead Garage
Decrease of asset: Bank

Book-keeping action
Dr Elstead Garage £2,800
Cr Bank £2,800

Elstead Garage
5


Year 5
Aug 29

£
Bank

2,800
Bank

6

Year 5

£

Aug 29 Elstead Garage

2,800


LESSON 2: PURCHASES, SALES AND EXPENSES
SUMMARY
1. The purchases account is used to record the purchases of stock while the returns
inwards account is used to record goods returned by the business’s customers.
2. The sales account is used to record the sales of stock, while the returns outwards

account is used to record goods returned to suppliers by the business.
3. Only goods bought with the intention of reselling them as a part of trading activities
are considered as purchases. The purchases of other assets is not considered as
purchases.
4. Sales referred to the sale of those goods in which the business trades; the sale of
goods that were bought with the intention to resell.
5. The purchase or sale of goods for cash may involve payment or receipt being made
by cash or by cheque (bank).
6. Entries in an expense account will be on the debit side
7. Drawings are money or goods taken out of the business by the owner, drawings are
not an expense of the business

EXERCISES
Exercise 1:
Record the following in appropriate accounts, using the rules of double entry.
Year 4
April 1

L Timms started in business with £5,000 in the bank

“

3

Bought office equipment for £370 by cheque

“

5

Paid rent by cheque £260

“

8

Purchased goods on credit £420 from A Smart

“

11

Returned goods to A Smart £35

“

14

Drew from bank for office cash £130

“

15

Paid wages in cash £115
7


“

18

Sold goods on credit to R Squire £175

“

24

Sold goods for cheque £85

Exercise 2:
You are required to enter the following transactions in the books of M O’Ryan:
Year 4
Aug

1

Started in business with £7,000 in the bank

“

2

Paid rent by cheque £280

“

5

Purchased goods on credit £520 from R Lester

“

12

Returned goods to R Lester £45

“

15

Sold goods on credit to D Langford £265

“

19

M O’Ryan withdrew from bank for private use £160

“

22

D Langford returned goods £30

“

24

Drew from bank for office cash £240

“

26

Paid R Lester by cheque the amount owing

“

28

Received cheque £100 on account from D Langford

“

30

Paid wages in cash £160

“

31

Bought office equipment by cheque £215

8


ANSWERS
Exercise 1:

* April 1

Transaction effect

Book-keeping action

Increase of asset: Cash at bank

debit Bank a/c £5,000

Increase of Capital

credit capital a/c £5,000
Bank

Year 4
April 1

£
Capital

5,000
Capital
Year 5

£

April 1
* April 3

Bank

5,000

Transaction effect

Book-keeping action

Increase of asset: office equipment

debit office equipment a/c £370

Decrease of asset: Cash at bank

credit Bank a/c £370

Office equipment
Year 4
April 3

£
Bank

370
Bank
Year 4
April 3

* April 5

£
office equipment

370

Transaction effect

Book-keeping action

Increase of expense: Rent

debit Rent a/c £260

Decrease of asset: Cash at bank

credit Bank a/c £260

Rent
Year 4
April 5

£
Bank

260
Bank
Year 4
April 5

* April 8

£
Rent

260

Transaction effect

Book-keeping action

Increase of asset: Goods for resale

debit Purchases a/c £420

9


Increase of Liabilities: Creditor A Smart

credit A Smart a/c £420

Purchases
Year 4
April 8

£
A Smart

420
A Smart

Year 4

£

April 8
* April 11

Purchases

420

Transaction effect

Book-keeping action

Decrease of asset: Returns Outwards

credit Returns Outwards a/c £35

Decrease of Liabilities: Creditor A Smart debit A Smart a/c £35
Returns Outwards
Year 4

£

April 11

A Smart

35

A Smart
Year 4

£

April 11

Returns Outwards

* April 14

Transaction effect

35
Book-keeping action

Decrease of asset: Cash at bank

credit Bank a/c £130

Increase of asset: Cash in office

debit Cash a/c £130

Bank
Year 4

£

April 14

Cash

130

Cash
Year 4

£

April 14

Bank

130

* April 15

Transaction effect

Book-keeping action

Decrease of asset: Cash

credit Cash a/c £115

Increase of expense: Wages

debit Wages a/c £115

Wages

Year 4
April 15

£
Cash

115
Cash

10


Year 4

£

April 15
* April 18

Wages

115

Transaction effect

Book-keeping action

Decrease of asset: Goods

credit Sales a/c £175

Increase of asset: Debtor R Squire

debit R Squire a/c £175

R Squire
Year 4

£

April 18

Sales

175
Sales
Year 4

£

April 18
* April 24

R Squire

175

Transaction effect

Book-keeping action

Decrease of asset: Goods

credit Sales a/c £85

Increase of asset: Cash at bank

debit Bank a/c £85

Bank
Year 4

£

April 24

Sales

85
Sales
Year 4

£

April 24

Bank

85

Now, the separated transactions can be combined into accounts as below:
Bank
Year 4

£

April 1

Capital

5,000

April 3

office equipment

370

“

Sales

85

“

5

Rent

260

“

14

Cash

130

24

Capital
Year 5
April 1
Office equipment
Year 4
April 3

£
Bank

370

11

£
Bank

5,000


Rent
Year 4
April 5

£
Bank

260
Purchases

Year 4
April 8

£
A Smart

420
A Smart

Year 4
April 11

Returns Outwards

£

Year 4

£

35

April 8

Purchases

420

Returns Outwards
Year 4

£

April 11

A Smart

35

Cash
Year 4
April 14

Bank

£

Year 4

£

130

April 15

Wages

115

Wages
Year 4
April 15

£
Cash

115
R Squire

Year 4
April 18

£
Sales

175

Sales
Year 4

£

April 18

R Squire

175

“

Bank

85

24

Exercise 2:
Bank
Year 4
Aug 1

Capital

“ 28

D Langford

£

Year 4

7,000

Aug

2

Rent

280

“

19

Drawings

160

100

12

£


“

24

Cash

240

“

26

R Lester

475

“

31

Office equipment

215

Capital
Year 4

£

Aug 1

Bank

7,000

Rent
Year 4
Aug 2

£
Bank

280
R Lester

Year 4

£

Aug

12

Returns Outwards

“

26

Bank

Year 4

45

£

Aug 5

Bank

520

475
Purchases

Year 4
Aug 5

£
Bank

520
Returns Outwards
Year 4

£

Aug 12

Bank

45

D Langford
Year 4
Aug 15

Sales

£

Year 4

£

265

Aug

22

Returns Inwards

“

28

Bank

30

100

Sales
Year 4
Aug 5
Drawings
Year 4
Aug 19

£
Bank

160
Returns Inwards

Year 4
Aug 22

£
D Langford

30

13

£
D Langford

265

Cash
Year 4
Aug 24

Bank

£

Year 4

240

Aug 30
Wages

Year 4
Aug 30

£
Cash

160
Office equipment

Year 4
Aug 31

£
Bank

215

14

£
Wages

160


LESSON 3: BALANCING ACCOUNTS; THE DIVISION
OF THE LEDGER & BANK FACILITIES
SUMMARY
1. Ledger accounts are usually balanced once a month. When both sides of an account
are equal, the account is cloded off by writing in the totals.
2. An account has a debit balance when the opening balance is on the debit side. This
will occur where the total of the debit side is greater than the total of the credit side.
3. An account has a credit balance when the opening balance is on the credit side. This
will occur where the total of the credit side is greater than the total of the debit side.
4. The running balance format of account is based upon the same double entry principle
as “T” accounts and shows the balance of the account after each transaction. .
5. The ledger is divided into separate ledgers, each of which records a certain type of
transaction.
6. Accounts are classified to identify the nature of the entries they contain, e.g. personal
accounts.
7. The two main types of accounts are current accounts and deposit accounts. Current
accounts do not normally earn interest while deposit accounts do.
8. Credit transfer, standing order and direct debit are methods of making payment
directly through the banking system.

EXERCISES
Exercise 1:
Balance the accounts in exercise 1 Lesson 2.
Exercise 2:
Balance the Cash and Bank accounts in exercise 1 above in running balance format

15


ANSWERS
Exercise 1:
Bank
Year 4
April 1

Capital

“

Sales

24

£

Year 4

5,000

April 3

office equipment

370

“

5

Rent

260

“

14

Cash

130

“

30

Balance c/d

85

£

4,325

5,085
May 1

Balance b/d

5,085

4,325
Capital

Year 5

£

Year 5

£

April 30 Balance c/d

5,000

April 1

Bank

5,000

May 1

Balance b/d

5,000

Office equipment
Year 4

£

Year 4
April 30

April 3

Bank

370

May 1

Balance b/d

370

£
Balance c/d

370

Rent
Year 4

£

Year 4
April 5

April 5

Bank

260

May 1

Balance b/d

260

£
Balance c/d

260

Purchases
Year 4

£

Year 4
April 8

April 8

A Smart

420

May 1

Balance b/d

420

£
Balance c/d

420

A Smart
Year 4

£

April 11 Returns Outwards
“

30 Balance c/d

35

Year 4
April 8

£
Purchases

420

385
420

420
May 1

16

Balance b/d 385


Returns Outwards
Year 4
April 11

Balance c/d

£

Year 4

£

35

April 11

A Smart

35

May 1

Balance b/d

35

Cash
Year 4
April 14

Bank

£

Year 4

130

April 15
“

£

30

Wages

115

Balance c/d

130
May 1

Balance b/d

15
130

15
Wages

Year 4

£

Year 4
April 30

April 15

Cash

115

May 1

Balance b/d

115

£
Balance c/d

115

R Squire
Year 4

£

Year 4
April 18

April 18

Sales

175

May 1

Balance b/d

175

£
Balance c/d

175

Sales
Year 4
April 30

Balance c/d

£

Year 4

£

260

April 18

R Squire

“

Bank

24

85

260

260
May 1

Balance b/d

Exercise 2:
Bank
Year 4

175

Details

Dr (£)
5,000

Cr (£)

Balance (£)

April

1

Capital

“

3

office equipment

370

4,630 Dr

“

5

Rent

260

4,370 Dr

“

14

Cash

130

4,240 Dr

“

24

Sales

85

17

5,000 Dr

4,325 Dr

260


Cash
Year 4

Details

Dr (£)

April 14

Bank

130

“

15

Wages

Cr (£)
115

18

Balance (£)
130

Dr

15

Dr

LESSON 4: THE TRIAL BALANCE; TRADING AND
PROFIT/LOSS ACCOUNTS AND THE BALANCE
SHEET: MORE FEATURES
SUMMARY
1. The trading and Profit & Loss account is used to calculate profit (or Loss) for a
specific period of time, usually a year. It has two sections: the trading account and the
profit & Loss account.
2. Returns inwards is deducted from sales in the trading account
3. Returns outwards is deducted from purchases in the trading accounts
4. Carriage inwards is the cost of transporting goods from duppliers into the business. It
is added to purchases in the trading account.
5. Carriage outwards is the cost of delivering goods to customers. It is shown as an
expense in the profit and loss account.
6. Gross profit is the amount by which sales exceed cost of goods sold. If cost of goods
sold is more than sales this is a gross loss. Gross profit/ loss is calculated in the trading
account.
7. Net profit is the amount by which the gross profit or loss, plus any revenue other than
sales, exceeds total operating expenses incurred during the period. Where expenses
incurred exceed the gross profit or loss, plus other revenues, this is a net loss. Net profit/
loss is calculated in the profit and loss account.
8. The trading and profit & Loss account is part of the double entry system.
9. To show the effect of profit/loss on capital, the net profit is transferred to the capital
account on the credit side. Drawings are also transferred to the capital account on the
debit side.
10. Net current asset is the difference between current assets and current liabilities.
11. The balance sheet is not part of double entry system
12. The balance sheet show assets on the left-hand side and capital and liabilities on the
right hand side.
13. Assets are grouped as fixed assets or current assets. Fixed assets are listed in
descending order of permanence and current assets are listed in increasing order of

liquidity.
19


14. Liabilities are grouped as either long-term liabilities or current liabilities. Current
liabilities are those that are due for payment within one year and long-term liabilities are
those amounts payable in more than one year.

20


EXERCISES
Exercise 1:
At 31 August Year 4, F Flinton had accounts balances as below:
Stock at 1 September Year 3

£2,520

Purchases

£20,400

Sales

£45,220

Debtors

£2,280

Creditors

£2,170

Office expenses

£1,290

Lighting and heating

£375

Wages

£2,630

Returns inwards

£1,055

Returns outwards

£930

Drawings

£860

Cash at bank

£4,300

Cash in hand

£570

Furniture and fittings

£23,310

Premises

£34,890

Required
1. Prepare the Trial Balance at 31 August Year 4, with the figures above including the
missing item
2. Draw up a trading and profit and loss account in case Closing stock is at £2,120
3. Draw up a complete balance sheet for F. Flinton at 31 August Year 4.

Exercise 2:
At 30 June Year 5, A Dobbs had accounts balances as below:
Stock at 1 July Year 4

£2,620

Purchases

£22,500

Sales

£67,310

Debtors

£1,250

Creditors

£2,210
21


Office expenses

£1,150

Lighting and heating

£730

Wages

£3,000

Returns inwards

£1,080

Returns outwards

£690

Carriage outwards

£215

Rent receivable

£1,250

Premises

£37,300

Furniture and fittings

£28,540

Cash at bank

£25,980

Cash in hand

£4,750

Drawings

£1,100

Required
1. Prepare the Trial Balance at 30 June Year 5 with the figures above including the
missing item
2. Draw up a trading and profit and loss account in case Closing stock is at £1,870
3. Draw up a complete balance sheet for A Dobbs at 30 June Year 5

22


ANSWERS
Exercise 1:
1.

F Flinton
Trial Balance at 31 August Year 4
Dr (£)

Stock at 1 September Year 3

Cr (£)

2,520

Purchases

20,400

Sales

45,220

Debtors

2,280

Creditors

2,170

Office expenses

1,290

Lighting and heating

375

Wages

2,630

Returns inwards

1,055

Returns outwards

930

Drawings

860

Cash at bank

4,300

Cash in hand

570

Furniture and fittings

23,310

Premises

34,890

Capital

46,160
94,480

2.

94,480

F Flinton
Trading and Profit and Loss Account
for the Year ended 31 August Year 4
£

£

Opening stock
Purchases
- Returns outwards

2,520
20,400
930

£
Sales

45,220

less Returns inwards 1,055
19,470
21,990
23


- Closing stock

2,120

Cost of goods sold

19,870

Gross Profit c/d

24,295
44,165

44,165

£
Lighting & heating

£
375

Office expenses

1,290

Wages

2,630

Net Profit

Gross Profit b/d

24,295

20,000
24,295

3.

24,295

F Flinton
Balance sheet 31 August Year 4
£

£

Fixed assets

capital

46,160

Premises

34,890

add Net profit

20,000

Furnitures and fittings

23,310

less Drawings

860

58,200
Current assets

19,140
65,300

£

Amount due within
12 months

Stock

2,120

Debtors

2,280

Bank

4,300

Cash

570

Creditors

2,170

9,270
67,470

67,470

Exercise 2: 1.

A Dobbs
Trial Balance at 30 June Year 5
Dr (£)

Stock at 1 July Year 4
Purchases

2,620
22,500

Sales
Debtors

Cr (£)

67,310

1,250

24


Creditors

2,210

Office expenses

1,150

Lighting and heating

730

Wages

3,000

Returns inwards

1,080

Returns outwards

690

Carriage outwards

215

Rent receivable

1,250

Premises

37,300

Furniture and fittings

28,540

Cash at bank

25,980

Cash in hand

4,750

Drawings

1,100

Capital

58,755

130,215

2.

130,215

A Dobbs
Trading and Profit and Loss Account
for the Year ended 30 June Year 5
£

£

Opening stock
Purchases
- Returns outwards

£

2,620
22,500
690

Sales

67,310

less Returns inwards 1,080
21,810
24,430

- Closing stock

1,870

Cost of goods sold

22,560 (2,620 +21,810 -1,870)

Gross Profit c/d

43,670 (67,310 -1,080-22,560)
66,230

66,230

£
Lighting & heating

£
730

Gross Profit b/d

43,670

Office expenses

1,150

Rent receivable

1,250

Wages

3,000

Carriage outwards

215

25