Grade 10 - GJ

Which entry is correct?

Charge J Thom, a debtor with R184 on his overdue account.

• Debit J Thom and Debtors control and Credit Interest income

• Debit J Thom and Credit Interest income

• Debit Interest income and Credit J Thom and Debtors control

• Credit J Thom and Debtors control

Which entry is correct? (We are posting for ABC Traders)

King Suppliers, a creditor, charge ABC Traders with interest of R280 on their overdue account.

• Debit Interest expense and Credit King Suppliers and Creditors Control

• Debit Debtors control and Credit King Suppliers and Creditors Control

• Debit Credit King Suppliers and Creditors Control and Credit Interest expense

• Debit Credit King Suppliers and Creditors Control and Credit Interest income

Which entry is correct?

The owner takes goods with a selling price of R600 and cost price of R400 for his own use.

• Debit Trading stock R600 and Credit Drawings R600

• Debit Trading stock R400 and Credit Drawings R400

• Debit Drawings R600 and Credit Trading stock R600

• Debit Drawings R400 and Credit Trading stock R400

Which entry is correct?

Donate stationery to the amount of R450 to a local crèche.

• Debit Donations R450 and Credit Trading stock R450

• Debit Trading stock R450 and Credit Donations R450

• Debit Drawings R450 and Credit Trading stock R450

• Debit Drawings R450 and Credit Donations R450

The bank returned a cheque for R1 200 which was received from M du Plessis marked “R/D – Insufficient funds”. The cheque was in settlement of his account of R1 250.

We will the discount allowed be cancelled?

• GJ

• CRJ

• CPJ

• DJ

The bank returned a cheque for R1 200 which was received from K Abel marked “R/D – Insufficient funds”.

Were will the amount received be cancelled?

• GJ

• CPJ

• CRJ

• DJ

Which entry is correct?

The total of the Wages column in the CPJ for R2 500 was incorrectly posted to the Salaries account.

• Debit Wages R2 50 and Credit Wages R2 500

• Debit Salaries R2 500 and Credit Salaries R2 500

• Debit Wages R2 500 and Credit Salaries R2 500

• Debit Salaries R2 500 and Credit Wages R2 500

Which entry is correct?

The cost of delivering goods to ABC Traders was entered in the Delivery Charges account, R 280.

• Debit Delivery expense R2 500 and Credit Bank R2 500

• Debit Bank R2 500 and Credit Delivery expense R2 500

• Debit Trading stock R2 500 and Credit Delivery expenses

  R2 500

• Debit Delivery expenses R2 500 and Credit Trading stock

  R2 500

Which entry is correct?

A cheque for R800 was issued for tyres for the delivery van. The amount was posted to the Vehicles account. Correct the error.

• Debit Delivery expense R800 and Credit Vehicles R800

• Debit Vehicles R800 and Credit Delivery expense R800

• Debit Motor expenses R800 and Credit Vehicles R800

• Debit Vehicles R800 and Credit Motor expenses R800

J Apsey was declared insolvent.

ABC Traders received a final dividend of 35 cent in the rand The R700 has been recorded and banked.

Write the balance off as irrecoverable.

What amount will be written off?

• 65 cents

• R245

• R1 300

• R2 000