Accounting and Finance

$24 250

$25 750

$28 250

29 750

$4 600

$5 750

$6 950

$7 150

appropriation account

bank account

capital account

income statement

credit partner’s capital account

credit partner’s current account

debit partner’s capital account

debit partner’s current account

It is credited in the income statement

It is debited in the income statement

It is deducted from trade receivables in the balance sheet

It is deducted from sales in the trading section of income statement

$9 000

$12 000

$15 000

$22 000

cash book

general journal

purchase day book

sales day book

A rent payment of $150 was entered correctly in the bank account but debited to the rent account as $250

Discount received of $378 was debited to the discount allowed account

Sales of $230 were entered in the Sales Journal as $320

The purchases Journal was overcast by $100

cash received from the sale of office equipment

cheque received from the sale of inventory

discounts received from trade payables

rent receivéd from tenants

consistency

matching

prudence

realisation