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Journals, Ledgers, and Cash Books
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Journals, Ledgers, and Cash Books
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Journals, Ledgers, and Cash Books
Cash account shows:
Credit balance
Debit balance
Both (a) and (b)
Nil balance
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
Which of the following would be classified as an asset?
Amounts owing to suppliers
Money owing to the bank
Bank loan
Stocks of goods purchased on credit
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
A group of accounts with a common characteristic, such as all customer accounts is a __________
General journal
Subsidiary ledger
Special journal
General ledger
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
A credit balance in cash book indicates:
Bank balance
Cash at bank
Bank under draft
Bank overdraft
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
What would be the balance on the following account if balanced on April 20?
£ 75 debit
£ 625 debit
£ 150 debit
£ 75 debit
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
Which of the following would not be classified as an asset?
Cash in hand
Premises
Money owed to use by customers
Money owed by us to supplier
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
Office equipment’s account is classified as ___________
Nominal accounts
Real accounts
Cash accounts
Capital accounts
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
A ___________ lists each of the accounts in the general ledger with its balance as of a particular date. What is it?
Trial Balance
Balance Sheet
General journal
Statement of retained earnings
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
Where should a debit posted to accounts payable in the general ledger come from?
Sales journal
Cash disbursements journal
Purchases journal
Cash receipts journal
Author:
rikazzz
Comment
Journals, Ledgers, and Cash Books
Buying stock on credit has the following effect on assets and liabilities:
Decrease stock and No effect
Increase stock and No effect
Decrease stock and Increase creditors
Increase stock and increase creditors
Author:
rikazzz
Comment
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