General Ledger Templates

Which of the following items is an incorrect title in the Accounts Receivable Ledger

• Bank/Discount Expense

• Sales Returns/GST Clearing

• Cost of Sales

• Sales/GST Clearing

Which of the following items would not appear on the credit side of the Inventory Account

• Cost of Sales

• Accounts Payable

• Bank

• Advertising

Which of the following titles is incorrect in the Accounts Payable Ledger

• Inventory/GST Clearing

• Bank/Discount Revenue

• Purchase Returns/GST Clearing

• Bank

Which of the following titles would not appear in the Accounts Receivable Account

• Sales Returns/GST Clearing

• Bad Debts

• Sales/GST Clearing

• Bank

Which of the following titles would not appear in the Inventory Account

• Drawings

• Cost of Sales

• Advertising

• Accounts Receivable

Which of the following titles would not appear in the Inventory Account

• Cost of Sales

• Accounts Payable

• Bank

• Sales

Which of the following items would appear on the Debit side of the GST Clearing Account if an amount was owed to the ATO

• Accounts Payable/Bank/Bank/Accounts Receivable

• Accounts Payable/Bank/Accounts Receivable/Accounts Payable

• Accounts Receivable/Accounts Payable/Bank/Bank/Accounts Receivable

• Accounts Payable/Bank/Bank/Balance

Select the correct set of titles to be recorded in the credit side of the Inventory Account

• Bank/Accounts Payable/Cost of Sales/Inventory Gain

• Bank/Accounts Payable/Cost of Sales/Inventory Loss/Inventory Write Down

• Bank/Accounts Payable/Cost of Sales/Inventory Loss/Inventory Write Down/Advertising/Drawings

• Accounts Payable/Cost of Sales/Inventory Loss/Inventory Write Down/Advertising/Drawings

Which of the following items would NOT appear in the P/L Summary account

• Capital

• Net Profit

• Revenues

• Expenses

Which of the following would be the correct entries for the credit side of the inventory account

• Bank/Accounts Payable/Cost of Sales/Advertising/Drawings/Inventory Loss/Inventory Write Down

• Bank/Accounts Receivable/Cost of Sales/Advertising/Drawings/Inventory Loss/Inventory Write Down

• Accounts Payable/Cost of Sales/Advertising/Drawings/Inventory Loss/Inventory Write Down

• Accounts Payable/Cost of Sales/Accounts Receivable/Advertising/Drawings/Inventory Loss/Inventory Write Down