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WorksheetsBaseline Accounting
Total questions: 11
Worksheet time: 2mins
Name
Class
Date
1.
Is Capital increased on the debit or credit side of the General Ledger?
a)
Debit-side
b)
Credit-side
2.
Is Bank increased on the debit or credit side of the General Ledger?
a)
Debit-side
b)
Credit-side
3.
Is Equipment increased on the debit or credit side of the General Ledger?
a)
Debit-side
b)
Credit-side
4.
Is Current income increased on the debit or credit side of the General Ledger?
a)
Debit-side
b)
Credit-side
5.
When the owner of Shock Electricians, M. Berg, increased his capital contribution by R180 000, did he do this in the Cash Receipts Journal or the Cash Payments Journal?
a)
Cash Receipts Journal
b)
Cash Payments Journal
6.
When the business paid its annual trade licence of R780 to the City Council, which columns were used in the Cash Payments Journal?
a)
Bank and Trading Stock
b)
Trading Stock and Sundry Accounts
c)
Bank and Sundry Accounts
d)
Trading Stock and Wages
7.
When the business receives money for services rendered is this recorded in Bank on the debit or credit-side?
a)
Debit-side
b)
Credit-side
8.
On a mark-up of 25% what would you sell stock at if you bought it for R40-00?
a)
R50-00
b)
R60-00
c)
R70-00
d)
R80-00
9.
The following appeared in a Trial Balance: Bank (R4000), Capital (R1800), Trading Stock (R1200), Equipment (R400), Sales (R3150) and Cost of Sales (R2100)? How much was the Rental Income if that was the only omitted item?
a)
R4950-00
b)
R7700-00
c)
R2 750-00
d)
R4000-00
10.
If you sold stock for R600-00 and your mark-up was 50%, what did you purchase the stock for?
a)
R300-00
b)
R400-00
c)
R500-00
d)
R600-00
11.
What mark-up did you use when you sold stock bought at R1 200 for R2 100?
a)
25%
b)
50%
c)
75%
d)
100%
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