Accounting 100

Quiz
•
Other
•
University
•
Hard
Athabile Yedwa
Used 8+ times
FREE Resource
13 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Payable Ragdoll Supplies
Amount of Trade inventories purchased on 2Oct of R5 386 should be R3 586
Provide the correcting journal
Dr: Payable 1 800
Cr: Inventories 1 565
Cr: VAT input 255
Dr: Payable 1 800
Cr: Inventories 1 565
Cr: VAT input 235
Dr: Payable 1 800
Cr: Inventories 1 800
Dr: Payable 1 200
Cr: Inventories 1 043
Cr: VAT input 157
2.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Amount of trade inventories (1 540) returned on 3 October does not include VAT
Provide the correcting journal
Dr: Inventories 201
Cr: VAT input 201
Dr: Inventories 231
Cr: VAT input 231
Dr: Payable 201
Cr: VAT input 201
Dr: Payable 231
Cr: VAT input 231
3.
FILL IN THE BLANK QUESTION
1 min • 10 pts
What is the balance to be paid on 3 November as per the remittance advice for Payable Ragdoll Supplies ?
(No R sign, no spaces between digits)
4.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Regarding trade inventories purchased from Payable WoofWoof on 23 Oct:
(Refer to the general ledger)
Amount recorded on books: R390
Actual cost is R930
Was Inventories over-stated or under-stated and at what amount?
Over-stated, R 540
Under-stated, R540
Under-stated, R470
Over-stated, R470
5.
MULTIPLE CHOICE QUESTION
1 min • 10 pts
Regarding trade inventories purchased from Payable WoofWoof on 23 Oct:
(Refer to the general ledger)
Amount recorded on books: R390
Actual cost: R930
Was VAT Input over-stated or under-stated and at what amount?
Over-stated, R70
Under-stated, R70
Over-stated, R81
Under- stated, R81
6.
FILL IN THE BLANK QUESTION
1 min • 10 pts
Inventories returned to Payable WoofWoof to the value of R38 have been entered in records of Wow-Bow as trade inventories purchased
Provide the amount that should correct this error made by Wow-Bow
(No R sign, no spaces)
7.
FILL IN THE BLANK QUESTION
1 min • 10 pts
What is the balance to be paid to Payable WoofWoof as per the remittance advice
(No R sign, no spaces between numbers)
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