Câu hỏi về kế toán

. Scott sold goods for £1250 on credit, excluding sales tax at 20%. State the correct double entry.

•   Dr Sales £1250 Cr Sales Tax £250 Cr Trade Receivables £1500

• Dr Trade Receivables £1500 Cr Sales £1250 Cr Sales Tax £250

• Dr Sales £1500 Dr Sales Tax £250 Cr Trade Receivables £1250

• Dr Trade Receivables £1500 Dr Sales Tax £250 Cr Sales £1250

You have bought stationery with a company cheque from the stationery shop next door.  How should this transaction be recorded?

• DR Stationery CR Cash

•   DR Payable CR Cash

• DR Cash CR Payable

• DR Stationery CR Payable

On 01 December 20X8, you paid £500 insurance premium for the period starting 01 January 20X9. State the correct journal entry.

• A.   DR Cash £500, CR Insurance £500

• B.   DR Insurance £500, CR Cash £500

• C.   DR Prepaid Insurance £500, CR Cash £500

• D.   DR Cash £500, CR Prepaid Insurance £500

In double-entry book-keeping, which of the following statements is correct?

A.   Debit entries decrease income and increase assets

B.   Credit entries decrease liabilities and increase income

C.   Credit entries decrease expenses and increase assets

• A.   Debit entries decrease income and increase assets

• B.   Credit entries decrease liabilities and increase income

• C.   Credit entries decrease expenses and increase assets

On 01 January 2019, you received a bill of £600 for electricity for the Quarter ended 31 December 2018. State the correct journal entry.

• A.   DR Cash £600, CR Electricity Exp £600

• B.   DR Electricity Exp £600, CR Cash £600

• C.   DR Electricity Exp Payable £600, CR Cash £600

• D.   DR Electricity Exp £600, CR Electricity Exp Payable £600

A debit balance of £3,000 brought down on A Co’s account in B Co’s books means that:

• A.   A Co is owed £3,000 by B Co

• B.   B Co has sold £3,000 of goods to A Co

• C.   B Co is owed £3,000 by A Co

• D.   A Co has sold £3,000 of goods to B Co

In accounting, capital is an investment of money (funds) with the intention of earning a return.

• A.   True

• B.   False

Paid upfront but not yet performed would be a contract _______ .

• A.   Liability

• B.   Asset

Property, plant and equipment is treated as _______ in the SFP.

• A.   Non-current assets

• B.   Current assets

A contract performed but not paid would be a contract receivable or asset. A contract asset if the payment is ____________

• A.   conditional (on something other than time)

• B.   unconditional