Non standardise POA Double entry and cash book test

Started a business with $25000 cash

• Debit Cash /Credit Capital

• Credit Capital/Debit Cash

Bought office furniture by cheque $1500

• Credit Bank / Debit Office Furniture

• Debit Office Furniture/Credit Bank

Bought machinery $7500 on credit for Planer Ltd.

• Debit Planer Ltd./ Credit Machinery

• Debit Machinery/ Credit Planer

Bought machinery $7500 on credit for Planer Ltd.

• Debit Planer Ltd./ Credit Machinery

• Debit Machinery/ Credit Planer

Paid the amount owing to Planers Ltd $7500 by cheque

• Debit Bank/Credit Planers Ltd.

• Debit Planers Ltd/ Credit Bank

In which book of account is cash discount received first recorded?

• Sales ledger

• Sales journal

• Purchases journal

• Cash book

The business owner, Jack invested $9000 into the business bank account. What is the double entry to record this transaction?

• Debit Bank and Credit Capital

• Debit Capital and Credit Bank

• Debit Capital and Credit Jack

• Debit Jack and Credit Bank

Sold equipment by cash $700. What is the double entry to record this transaction?

• Debit Cash and Credit Sales

• Debit Cash and Credit Equipment

• Debit Equipment and Credit Cash

• Debit Sales and Credit Equipment

Bought a computer by cash $2500. What is the double entry to record this transaction?

• Debit Computer and Credit Cash

• Debit Cash and Credit Computer

• Debit Cash and Credit Purchases

• Debit Purchases and Credit Cash

Sold goods on credit to Mark. What is the double entry to record this transaction?

• Debit Cash and Credit Sales

• Debit Mark and Credit Sales

• Debit Sales and Credit Mark

• Debit Cash and Credit Sales