Cash book

Owner started the business with MVR 40000 deposited in the business bank account.

• Debit: Capital

  Credit: Cash

• Debit: Bank

  Credit: Capital

• Debit: Bank

  Credit: Owner

• Debit: Capital

  Credit: Bank

"Bought fixtures and fittings worth MVR 5000 by cheque."

The transaction will be recorded on which side of the cash book?

• Credit

• Debit

Paid rent by cheque MVR 7000

• Debit: Cash

  Credit: Bank

• Debit: Bank

  Credit: Rent

• Debit: Rent

  Credit: Bank

• Debit: Bank

  Credit: Cash

Bought goods on credit from Blue Wave with a list price of MVR 4000, subject to 10% discount.

Which statement is true?

• The above transaction will not be recorded in the cashbook.

• Debit: Blue wave

  Credit: Purchases

• Debit: Blue wave

  Credit: Bank

• The above transaction will be recorded in the cash book.

Sold goods to Solah for cash MVR 2200.

• Debit: Sales

  Credit: Solah

• Debit: Solah

  Credit: Sales

• Debit: Cash

  Credit: Sales

• Debit: Bank

  Credit: Sales

Withdrew goods from the inventory for personal use MVR 600.

Select the effect of the transaction.

• Cash increase

• Bank increase

• No effect on cash and bank

• Bank and cash decrease

Received a cheque from Nizam MVR 890, in full settlement of his account MVR 920.

Which statement is true?

• Record MVR 920 in the debit side of the cashbook on the bank column.

• Record MVR 920 in the debit side of the cashbook on the cash column.

• Record MVR 30 as a discount in the debit side of the cashbook.

• Record MVR 30 as a discount on the credit side of the cashbook.

Which statement is true?

• All payments are recorded on the debit side of cashbook.

• All payments are recorded on the credit side of cashbook.

• All receipts are recorded on credit side of cashbook.

• receipts are not recorded on the cashbook.

Which of the following transaction is NOT recorded in the cashbook?

• Sold goods on credit to Rio, MVR760.

• Deposited cash into bank, $1000.

• Paid wages in cash, $953.

• Paid $286 to Anwar by Bank transfer.

select the contra entry.

• Paid $286 to Anwar by Bank transfer.

• Paid wages in cash, $953.

• Purchase goods worth MVR600 and paid 550 by cheque.

• Deposited cash into bank, $1000