1.

What are the various types of financial transactions occur in any business organisation
please name ten of them.
A financial transaction is an agreement, communication, or movement carried out
between a buyer and a seller to exchange an asset for payment. It involves a change in
the status of the finances of two or more business or individual. Some of examples
are as below
i. Account payable
ii. Wages paid
iii. Rent paid
iv. Account receivable
v. Supplier expenses
vi. Bank loan
vii. Insurance expense
viii. Telephone expense
ix. Paid up capital
x. Vehicle operating expense
2. List ten different types of supporting documents used in order to process financial
transitions and extract interim report
Here are ten different types of supporting document used in order to process financial
transitions
A. Invoice
B. Cash register receipt
C. Computer generated receipt
D. Employee time card
E. Deposit slip
F. Purchase order
G. Credit card memo
H. Epay slips

Question 3

W robins commenced double entry book keeping on 1 October 2012 with the following
assets and liabilities. Robin uses perpetual inventory system. The business is GST registered
and accounts on a cash basis.

Inventory 16,000

Account receivable 1,390

Bank 8,700

Motor Vehicles 38,000

Office furniture 4,000

Computers 8,700

Loan form Acme finance co 15,000

Transaction for the month 2012 oct