Double entry rule
Authored by Jackie Walt
Financial Education
10th Grade
Used 22+ times
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5 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner increased his capital with R21 000. Receipt no. 23.
Debit Capital; Credit Bank
Debit cash; Credit Bank
Debit Capital contribution; Credit debtors
Debit Bank; Credit Capita
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Paid R23 out of Petty cash for delivery costs. Petty cash voucher no.11.
Debit trading stock; Credit Petty cash
Debit Petty cash; Credit delivery cost
Debit petty cash; Credit Bank
Debit trading stock; Credit delivery cost
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Made an ATM withdrawal to pay the wages of the week, R480.
Debit Bank and credit Wages
Debit Bank and credit Drawings
Debit Drawings and credit Bank
Debit Wages and credit Bank
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sold goods on credit to R. Rood for R900 (cost price R550), invoice no. 34.
Debit Sales and credit Cost of sales
Debit sales (R900) and credit Debtors control (R900) AND Debit cost of sales (R550) and credit trading stock (R550)
Debit Debtors control (R900) and credit Sales (R900) AND Debit cost of sales (R550) and credit trading stock (R550)
Debit sales (R900) and credit Trading stock (R900) AND Debit cost of sales (R550) and credit Debtors control (R550)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Bought stock on credit from Theron Ltd., R26 900.
Debit Creditors control and credit trading stock
Debit Trading stock and credit Creditors control
Debit Debtors control and credit trading stock
Debit Creditors control and credit cost of sales
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