Accounting and Finance

total assets less total liabilities

current assets less current liabilities

owner’s capital less drawings

total non-current assets plus current assets

copy invoice

credit note

debit note

statement of account

its loan capital

its paid-up share capital

the capital that the company is allowed to raise

the number of shares issued

Deposits in transit

Outstanding checks

Bank service charges

None of the above

$50 000

$120 000

$150 000

$200 000

by crediting the trade receivable’s account

by debiting the trade receivable’s account

by crediting the provision for doubtful debts account

by debiting the provision for doubtful debts account

capital the company is allowed to raise

issued capital plus loan capital

paid up share capital

shares issued

True

False

to calculate total accruals and prepayments

to calculate total trade receivables and trade payables

to calculate total purchases and sales

to calculate total receipts and payments

The credit side exceeds the debit side by $150

The debit side exceeds the credit side by $150

The credit side exceeds the debit side by $300

The debit side exceeds the credit side by $300