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A cheque received from a customer is dishonoured. Which of the following statements represents the correct entry?

• A debit in the Cash Book and a debit in the customer’s account.

• A credit in the Cash Book and a debit in the customer’s account.

• A debit in the Cash Book and a credit in the customer’s account.

• A credit in the Cash Book and a credit in the customer’s account.

A person bought a television set at list price RM2,000 on credit. Trade discount was 10% and cash discount 5%. He settled his debt within the discount period. Which of the following entries in his book is correct?

• Credit : Cash RM1,800

• Debit : Debtors RM1,800

• Debit : Debtors RM1,710

• Credit : Cash RM1,710

A company bought goods of RM1,800 on credit at a trade discount of 10% from Lim Company. Entry for the trade discount of RM180 should be _

• Debit : -

  Credit : -

• Debit : Discount Allowed

  Credit : Lim Company

• Debit : Lim Company

  Credit : Discount Received

• Debit: Lim Company

  Credit : Trade Discount

If we return goods which are previously bought by cash and receive a cash refund, which Special Journal should be used?

• Returns Outwards Book

• Returns Inwards Book

• General Journal

• Cash Book

A Petty Cash Book has an imprest of RM300. If the total amount of small payments paid out by the petty cashier is RM230 in a particular period, how much is usually topped up at the end of the period?

• RM370

• RM230

• RM300

• RM70

Petty Cash Book is a part of Ledger. In which part of the Statement Of Financial Position would Petty Cash balance appear?

• Non-Current Liability

• Current Liability

• Current Assets

• Non-Current Assets

A Bad Debt is the amount which is __________-.

• incurred by the supplier

• owed by one trader to another

• not shown in the Trial Balance

• unlikely to be paid by the debtor

A decrease in the Allowance for Doubtful Debts will_________.

• decrease the cash balance

• increase the profit for the year

• decrease the profit for the year

• increase the bad debts for the year

The balances in a company’s Sales Ledger total RM64,800. This amount includes RM3,000 owed by customer A who has disappeared.

The company wishes to make a 5% of allowance for doubtful debts on all debtors balances

What is the net amount of Accounts Receivable to be shown in the Statement Of Financial Position?

• RM61,560

• RM3,090

• RM58,710

• RM3,240

Give below is a Statement Of Financial Position extract as at 31 December 2015:
Accounts Receivable                   RM 185,000

Allowance for Doubtful Debts   RM    4,625

In 2016 it is decided to maintain  $2\frac{1}{2}\%$ of Allowance for Doubtful Debts.  If the balance of debtors in 2016 amount to RM196,000, what is the amount of Allowance for Doubtful Debts to be debited to the Profit and Loss Account in 2016?

• RM4,900

• RM4,625

• RM375

• RM275