
Double Entry
Authored by Velda Scott
Business
4th Grade
Used 6+ times

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25 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
1 The double entry to record the return of goods to J. Sam by the business (in the business’s accounts) is
A Debit: J. Sam; Credit: Return Outwards
B Debit: Return Inwards; Credit: J. Sam
C Debit: Return Outwards; Credit: J. Sam
D Debit: J. Sam; Credit: Sales
2.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
1 Real accounts will include
A motor vans
B creditors
C debtors
D accounts payable
3.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
The firm refunded a debtor by cash when he overpaid his account. What is the double entry to record this transaction?
A Debit Debtor; Credit Sales
B Debit Sales; Credit Cash
C Debit Cash; Credit Debtor
D Debit Debtor; Credit Cash
4.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Which of the figures below represents the closing balance on the Motor Vehicle account?
A $2,000
B $6,000
C $7,000
D $8,000
5.
MULTIPLE CHOICE QUESTION
45 sec • 1 pt
Nominal accounts will NOT include
A Wages expense
B Commissions receivable
C Rent Expense
D Creditors
6.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The following double entry was recorded in the books of P. Newton: ‘Debit: Equipment, Credit: Tim Ltd.’ What transaction has occurred?
A P. Newton returned equipment to Tim Ltd.
B Tim Ltd. bought equipment from P. Newton on credit
C P. Newton bought equipment on credit from Tim Ltd.
D Tim Ltd. returned equipment to P. Newton
7.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
The owner pays the firm’s electricity bill using his personal funds. What is the double entry to record this transaction?
A Dr. Electricity, Cr. Capital
B Dr. Cash, Cr. Capital
C Dr. Capital, Cr. Electricity
D Dr. Capital, Cr. Cash
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