Financial Accounting 1

Osa started business with Le40,000cash. The accounting entry is debit

• cash account; credit capital account

• capital account; credit cash account

• purchases account; credit cash account

• expenses account; credit capital account

____ is the book of prime entry that combines cash, bank and discount together.

Which of the following is not a subsidiary book?

• sales day book

• purchases day book

• general journal

• trial balance

A petty cashier operates with an imprest of D1,000 per week. At the end of the week he had disbursed D920. How much is needed to restore the imprest?

• D1,920

• D1,000

• D920

• D80

A three column cash book contains column for

• cash, assets and liabilities

• bank, cash and asset

• cash, bank and return

• discount, cash and bank