Bingo on double entry and cash

Bingo on double entry and cash

By Wai Gee

Multiple Choice

Which is the format of a ledger account?

• Format A

• Format B

Multiple Choice

Which is the format of a trade payable account?

• Format A

• Format B

Multiple Choice

Sold goods on credit to Ong at a list price of $1 000 less 10% trade discount.

Ong returned goods at a list price of $200.

How much is sales returns?

• $100

• $180

• $200

• $1000

Multiple Choice

Format of Bank Reconciliation

Balance as per bank account

Add: deposits in transit

Less: cheques not yet presented

Adjusted balance as per cash at bank account.

• True

• False

Multiple Choice

Which is the correct journal entry for credit sale of goods?

• Format A

• Format B