Companies - General ledger accounts

What type of account is Shareholders for dividends?

• Asset

• Liability

• Expense

• Income

What type of account is Income Tax?

• Asset

• Liability

• Expense

• Income

What type of account can SARS: Income Tax be?

• Owners Equity

• Liability

• Expense

• Income

What type of account is Retained income?

• Shareholders Equity

• Liability

• Expense

• Income

What type of account is Ordinary share capital?

• Shareholders Equity

• Liability

• Expense

• Income

What type of account is Dividends on ordinary shares?

• Shareholders Equity

• Liability

• Expense

• Income

What type of account is Directors fees?

• Shareholders Equity

• Liability

• Expense

• Income

What type of account is Audit fees?

• Shareholders Equity

• Liability

• Expense

• Income

What account will not be closed off to / entered into the Appropriation account?

• Ordinary share capital

• Income Tax

• Dividends on Ordinary shares

• Profit and loss

Authorised shares are the maximum number of shares that can be sold by a company.

• True

• False