Exercise 7: Cash Payments Journal

Exercise Overview

An exercise in which students are given a partially completed Cash Payments Journal and must summarise transactions for the month according to given accounts. Essentially this is a categorising exercise.

Exercise Instructions

To commence this exercise you must download a Microsoft Excel file containing a partially completed Cash Payments Journal.

The Cash Payments Journal in the Excel file contains a list of twenty (20) cash payments transactions.

Your task is to complete the Cash Payments Journal by analysing each transaction and deciding which account column it must be placed.

When you have completed the analysis, you must total each column and making sure that you "balance", that is the sum of the total column must be equal to the total of the account columns.

In this exercise you are given details of twenty (20) cash payments transactions which you must analyse according to given accounts. The exercise is contained within a Microsoft Excel Workbook.

You will find further instructions on the first page of the workbook.

illustration of bookkeeping exercise on cashn payments journal

For more information on journals go to the page What are journals?

Download the exercise file (Microsoft Excel spreadsheet)

Answer to this Exercise

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