Documents - N5 Accounting

Which document is issued to request payment for goods or services supplied?

• Invoice

• Copy Invoice

• Credit Note

• Copy Credit Note

• Statement of Account

Which document is kept by the supplier when faulty goods are returned?

• Invoice

• Copy Invoice

• Credit Note

• Copy Credit Note

• Statement of Account

Which document is received from a supplier when faulty goods are returned?

• Invoice

• Copy Invoice

• Credit Note

• Copy Credit Note

• Statement of Account

Which document is received from a supplier to request payment for goods supplied?

• Invoice

• Copy Invoice

• Credit Note

• Copy Credit Note

• Statement of Account

Which document is sent to the customer at the end of month to summarise all the transactions which have taken place over this period

• Invoice

• Copy Invoice

• Credit Note

• Copy Credit Note

• Statement of Account

The Bank Statement shows that £30 has been paid to Amazon for printer paper (for use in the office) inclusive of VAT at 20%. What would be the ;edger entries required?

• Dr Bank £30

  Cr VAT £5

  Cr Paper £25

• Dr VAT £5

  Dr Paper £25

  Cr Bank £30

• Dr Purchases £25

  Dr VAT £5

  Cr Bank £30

• Dr Purchases £0

  Dr VAT £6

  Cr Bank £36

• Dr Paper £30

  Dr VAT £6

  Cr Bank £36

A cheque counterfoil shows £120 paid out to Paul's Tyres for the company vans (inclusive of VAT at 20%). What would be the entries in the ledger accounts?

• Dr Bank £120

  Cr VAT £20

  Cr Van Expenses £100

• Dr VAT £20

  Dr Van Expenses £100

  Cr Bank £120

• Dr Van Asset Account £100

  Dr VAT £20

  Cr Bank £120

• Dr Van Asset £120

  Dr VAT £24

  Cr Bank £144

• Dr Van Expenses £120

  Dr VAT £24

  Cr Bank £144

A receipt shows £36 paid out to the post office for stamps (inclusive of VAT at 20%). It did not appear in any Bank Statement. What would be the entries in the ledger accounts?

• Dr Cash £36

  Cr VAT £6

  Cr Postage £30

• Dr VAT £6

  Dr Postage £30

  Cr Bank £36

• Cr VAT £6

  Cr Cash £30

  Dr Postage £36

• Cr Cash £43.20

  Dr VAT £7.20

  Dr Postage £36.00

• Dr Postage £30

  Dr VAT £6

  Cr Cash £36

A copy Credit Note would generate entries in which accounts?

• Cr Purchase Returns

  Cr VAT

  Dr Trade Payables

• Dr Sales Revenue Returns

  Dr VAT

  Cr Trade Payables

• Dr Sales Revenue Returns

  Dr VAT

  Cr Trade Receivables

• Dr Purchase Returns

  Dr VAT

  Cr Trade Receivables

• Cr Sale Revenu e Returns

  Cr VAT

  Dr Trade Receivables

A Credit Note would generate entries in which accounts?

• Cr Purchase Returns

  Cr VAT

  Dr Trade Payables

• Dr Sales Revenue Returns

  Dr VAT

  Cr Trade Payables

• Dr Sales Revenue Returns

  Dr VAT

  Cr Trade Receivables

• Dr Purchase Returns

  Dr VAT

  Cr Trade Receivables

• Cr Sale Revenu e Returns

  Cr VAT

  Dr Trade Receivables