Accounting - Grade 11 - Lesson 7 Creditors Reconciliation

Accounting - Grade 11 - Lesson 7 Creditors Reconciliation

11th Grade

10 Qs

quiz-placeholder

Similar activities

Identity Theft

Identity Theft

8th - 12th Grade

12 Qs

Credit and Debit Cards

Credit and Debit Cards

8th - 12th Grade

10 Qs

Highlights from Section 6.1--Credit

Highlights from Section 6.1--Credit

11th - 12th Grade

12 Qs

Credit Card Basics

Credit Card Basics

10th - 12th Grade

12 Qs

Copyright & Fair Use

Copyright & Fair Use

5th - 12th Grade

10 Qs

Budgeting Powerpoint

Budgeting Powerpoint

9th - 12th Grade

15 Qs

Econ Review

Econ Review

11th - 12th Grade

14 Qs

 N9/HEAL  Campus Expectation Quiz

N9/HEAL Campus Expectation Quiz

9th - 12th Grade

12 Qs

Accounting - Grade 11 - Lesson 7 Creditors Reconciliation

Accounting - Grade 11 - Lesson 7 Creditors Reconciliation

Assessment

Quiz

Specialty

11th Grade

Hard

Created by

Woodridge Connect

Used 4+ times

FREE Resource

10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

5 mins • 1 pt

A creditor's ledger calculates the total value owed by the debtor

True

False

2.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

A debtor receives a/an _____ stating the amount owed to the creditor after a credit purchase.

3.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

A debtor returns trading stock to a supplier. The creditor will issue a/an _____ as evidence that the credit sale was reversed.

4.

FILL IN THE BLANK QUESTION

5 mins • 1 pt

After a debtor returns trading stock and the creditor has reversed the sale, a/an _____ will be issued to the creditor as evidence that the purchase was reversed.

5.

MATCH QUESTION

15 mins • 1 pt

Match the source document with it's corresponding effect on the books of the business.

Creditors Increase

Invoice Received

Debtors Decrease

Credit Note

Debtors Increase

Debit note

Creditors Decrease

Invoice Issued

6.

MATCH QUESTION

15 mins • 1 pt

Match the ledger entries to the correct credit transaction.

Sold trading stock on credit to a debtor

Dr. Trading Stock

Cr. Creditors' Control

Goods purchased on credit from a supplier

Dr. Bank

Cr. Debtors Control

Trading stock bought on credit returned to supplier

Dr. Creditors' Control

Cr. Trading Stock

Received value owed from credit sales

Dr. Creditors' Control

Cr. Bank

Paid creditor value owed

Dr. Debtors' Control

Cr. Sales

Dr. Cost of Sales

Cr. Trading Stock

7.

MULTIPLE CHOICE QUESTION

15 mins • 1 pt

Media Image

You are given the creditors ledger of ABC Traders in the books of the debtor, XYZ Traders.

Calculate the value owed to ABC Traders.

17882

55382

28562

16558

Create a free account and access millions of resources

Create resources
Host any resource
Get auto-graded reports
or continue with
Microsoft
Apple
Others
By signing up, you agree to our Terms of Service & Privacy Policy
Already have an account?