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WorksheetsBookkeeping Transactions recap
Total questions: 7
Worksheet time: 5mins
A customer has received an invoice for £468 pounds including VAT. They take advantage of a 2% settlement discount how much will they pay?
£468
£9.36
£458.64
£477.36
What are the postings from the discount received daybook to the general ledger?
DR Discount Received, DR VAT & CR PLCA
DR PLCA, CR VAT and CR Discount Received
DR Discount Allowed, DR VAT, CR SLCA
If the cashbook is part of the double entry there is no need to record any entries into the bank or cash accounts?
True
False
Bank interest received is an example of?
Asset
Liability
Expense
Income
Assets equal £75,000, liabilities equal £49,000 how much is capital?
£124,000
£75,000
£49,000
£26,000
When balancing a t-account the c/d and b/d should be on opposite sides?
True
False
What document does the customer send to the supplier to inform that of what they are paying?
Credit note
Invoice
Remittance advice
Statement of account
