Business Transactions
Which TWO of the following are source documents that are recorded in an entity’s books of original entry?
Goods received note
Invoice to customer
Purchase order to supplier
Check to supplier
Invoice to customer
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In which book of original entry is VAT on purchases from non-credit suppliers recorded?A. Sales day book
B. Purchases day book
C. Cash book
D. Journal
The petty cash float in a business has an imprest amount of $200. At the end of March, vouchers in the petty cash box amounted to $136 and the amount of cash remaining in the box was $54.
A. A petty cash voucher for $10 is missing
B. An employee was given $10 too little when making a petty cash claim
C. An employee reimbursed petty cash with $10 in respect of postage stamps used, but no voucher was prepared
D. A voucher for $10 was put in the box but no payment was made to the employee
In which book of original entry would discounts allowed be recorded?
A. Sales day book
B. Purchases day book
C. Cash book
D. Journal
G purchases goods on credit from H for $1,000. $100 of these goods are defective and G returns them to H. What document would H issue to G in respect of the returned goods?
A. Invoice
B. Remittance advice
C. Credit note
D. Delivery note
Which of the following is a book of original entry?
A. Nominal Ledger
B. Journal
C. Receivables ledger
D. Asset register
In which book of original entry is VAT on credit sales recorded?
A. Sales day book
B. Purchases day book
C. Cash book
D. Journal
Books of original entry in a double-entry system of accounting are used to list similar transactions, with the totals being posted to the nominal ledger.
A. True
B. False
C.
D.
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