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Worksheets

Double entry

Total questions: 68

Worksheet time: 34mins

Name
Class
Date
1.

Commenced business depositing $50,000 into a business bank account

a)

Capital +$50,000

b)

Cash at bank +$50,000

c)

Cash in hand +$50,000

d)

Cash at bank -$50,000

e)

Cash in hand -$50,000

2.

Received $30,000 loan from the bank

a)

Cash at bank +$30,000

b)

Cash in hand -$30,000

c)

Cash in hand +$30,000

d)

Cash at bank -$30,000

e)

Bank loan +$30,000

3.

Purchased a motor vehicle for $60,000 on credit

a)

Motor vehicle +$60,000

b)

Trade payable -$60,000

c)

Cash at bank -$60,000

d)

Trade payable +$60,000

e)

Cash at bank +$60,000

4.

Withdrew $500 from the bank for own use

a)

Cash at bank -$500

b)

Cash at bank +$500

c)

Cash in hand -$500

d)

Cash at bank +$500

e)

Drawings +$500

5.

Paid part of bank loan with $20,000 additional capital brought in

a)

Bank Loan +$20,000

b)

Bank Loan -$20,000

c)

Cash at bank +$20,000

d)

Cash at bank -$20,000

e)

Capital +$20,000

6.

Bought a motor van costing $8,000 on credit

a)

Motor vehicle +$8,000

b)

Cash at bank +$8,000

c)

Cash at bank -$8,000

d)

Trade payable +$8,000

e)

Trade payable -$8,000

7.

Repaid $6,000 cash for a loan owed to P Smith

a)

Cash in hand -$6,000

b)

Cash at bank -$6,000

c)

Loan from P Smith +$6,000

d)

Cash in hand +$6,000

e)

Loan from P Smith -$6,000

8.

Bought $500 worth of goods paying by cheque

a)

Cost of sales +$500

b)

Inventory +$500

c)

Trade payable +$500

d)

Trade payable -$500

e)

Cash at bank -$500

9.

The owner deposited $3,000 more into the business bank account

a)

Cash in hand +$3,000

b)

Cash at bank -$3,000

c)

Cash at bank +$3,000

d)

Capital +$3,000

e)

Cash in hand -$3,000

10.

A customer returned goods he bought for $800. The cost of the goods is $500

a)

Trade receivables -$800

b)

Inventory +$800

c)

Cost of sales -$500

d)

Inventory +$500

e)

Sales returns +$800

11.

Bought goods worth $2,000 on credit

a)

Inventory +$2,000

b)

Cost of sales +$2,000

c)

Trade payable -$2,000

d)

Trade payable +$2,000

e)

Cash at bank -$2,000

12.

The owner took out $500 cash for his personal use

a)

Cash in hand +$500

b)

Cash in hand -$500

c)

Cash at bank -$500

d)

Cash at bank +$500

e)

Drawings +$500

13.

Paid a supplier $2,000 by cheque

a)

Inventory +$2,000

b)

Trade receivable -$2,000

c)

Trade payable -$2,000

d)

Cash at bank -$2,000

e)

Cash at bank +$2,000

14.

Bought $1,800 fixtures paying by cheque

a)

Inventory +$1,800

b)

Cash at bank +$1,800

c)

Cash at bank -$1,800

d)

Fixtures and fittings +$1,800

e)

Fixtures and fittings -$1,800

15.

Axa Ltd lent the firm $500 cash

a)

Loan to Axa Ltd +$500

b)

Cash at bank +$500

c)

Cash in hand +$500

d)

Loan from Axa Ltd +$500

e)

Trade payable: Axa Ltd +$500

16.

A customer paid $600 by cheque

a)

Trade payable -$600

b)

Trade receivable -$600

c)

Sales revenue +$600

d)

Cash at bank +$600

e)

Cash in hand +$600

17.

Paid a supplier $300 cash

a)

Trade receivable -$300

b)

Trade payable -$300

c)

Inventory +$300

d)

Cash in hand -$300

e)

Cash at bank -$300

18.

Returned $200 goods to a supplier whose bill had not paid

a)

Sales returns +$200

b)

Trade receivable -$200

c)

Inventory -$200

d)

Cost of sales +$200

e)

Trade payable -$200

19.

Bought additional shop premises $1,000 by cheque

a)

Inventory +$1,000

b)

Trade payable +$1,000

c)

Land and buildings +$1,000

d)

Cash at bank -$1,000

e)

Cash at bank +$1,000

20.

Repaid by cash $500 we owed to Axa Ltd

a)

Cash at bank -$500

b)

Cash in hand +$500

c)

Loan to Axa Ltd -$500

d)

Loan from Axa Ltd -$500

e)

Cash in hand -$500

21.

Withdrew $2,000 cash from the bank for the cash till

a)

Drawings +$2,000

b)

Cash in hand -$2,000

c)

Cash at bank -$2,000

d)

Cash in hand +$2,000

e)

Cash at bank +$2,000

22.

Sold $700 machinery on credit to Billy

a)

Cash at bank +$700

b)

Trade receivable: Billy +$700

c)

Other receivable: Billy +$700

d)

Inventory -$700

e)

Machinery -$700

23.

Paid $50 for postage stamps by cash

a)

Cash at bank -$50

b)

Cash in hand +$50

c)

Postages +$50

d)

Postages -$50

e)

Cash in hand -$50

24.

Received $800 rent in cash

a)

Cash at bank +$800

b)

Cash in hand -$800

c)

Rent +$800

d)

Rent income +$800

e)

Cash in hand +$800

25.

Received $70 refund of insurance by cheque

a)

Cash in hand +$70

b)

Cash at bank +$70

c)

Insurance income +$70

d)

Insurance +$70

e)

Insurance -$70

26.

A customer paid us $350 cash

a)

Sales revenue +$350

b)

Cash at bank +$350

c)

Cash in hand +$350

d)

Trade payable -$350

e)

Trade receivable -$350

27.

Received commission $500 by cheque

a)

Commission +$500

b)

Cash at bank -$500

c)

Cash at bank +$500

d)

Commission income +$500

e)

Cash in hand +$500

28.

Paid for utilities $280 by cheque

a)

Drawings +$280

b)

Utilities +$280

c)

Utilities -$280

d)

Cash at bank -$280

e)

Cash in hand -$280

29.

Owner brought in $5,000 cash as additional capital for his business

a)

Cash in hand -$5,000

b)

Cash in hand +$5,000

c)

Cash at bank -$5,000

d)

Cash at bank +$5,000

e)

Capital +$5,000

30.

Opened business bank account using company cash $10,000

a)

Capital +$10,000

b)

Cash in hand +$10,000

c)

Cash in hand -$10,000

d)

Cash at bank +$10,000

e)

Cash at bank -$10,000

31.

Paid for office furniture $1,500 with company cheque

a)

Inventory +$1,500

b)

Furniture +$1,500

c)

Cash at bank +$1,500

d)

Capital +$1,500

e)

Cash at bank -$1,500

32.

Purchased office equipment $2,800 on credit from Su Trading

a)

Cash at bank -$2,800

b)

Office equipment +$2,800

c)

Office supplies +$2,800

d)

Trade payable: Su Trading +$2,800

e)

Trade receivable: Su Trading +$2,800

33.

Paid Su Trading $2,800 for amount owing with company cheque

a)

Loan from Su Trading -$2,800

b)

Trade receivable: Su Trading -$2,800

c)

Trade payable: Su Trading -$2,800

d)

Cash in hand -$2,800

e)

Cash at bank -$2,800

34.

Owner deposited private funds $8,000 into the business bank account

a)

Capital +$8,000

b)

Cash in hand +$8,000

c)

Cash at bank -$8,000

d)

Cash in hand -$8,000

e)

Cash at bank +$8,000

35.

Purchased goods for $3,000 cash

a)

Cash at bank +$3,000

b)

Cash at bank -$3,000

c)

Cash in hand +$3,000

d)

Cash in hand -$3,000

e)

Inventory +$3,000

36.

Purchased a building costing $50,000 for the business by cheque

a)

Land and building -$50,000

b)

Land and building +$50,000

c)

Inventory +$50,000

d)

Cash in hand -$50,000

e)

Cash at bank -$50,000

37.

Owner withdrew $500 cash for private use

a)

Cash at bank +$500

b)

Cash at bank -$500

c)

Cash in hand +$500

d)

Cash in hand -$500

e)

Drawings +$500

38.

Owner brought in $20,000 cash as additional capital

a)

Cash at bank -$20,000

b)

Cash in hand +$20,000

c)

Cash in hand -$20,000

d)

Cash at bank +$20,000

e)

Capital +$20,000

39.

Received a bank loan $50,000 which was deposited into the business bank account

a)

Bank Loan -$50,000

b)

Bank Loan +$50,000

c)

Cash in hand +$50,000

d)

Cash at bank +$50,000

e)

Cash at bank -$50,000

40.

Sold goods costing $2,000 for $3,500 cash

a)

Sales revenue +$3,500

b)

Trade receivable +$3,500

c)

Cash in hand +$3,500

d)

Cost of sales +$2,000

e)

Inventory -$2,000

41.

Purchased $5,000 goods on credit from Yu Wholesaler

a)

Trade receivable: Yu Wholesaler +$5,000

b)

Trade payable: Yu Wholesaler +$5,000

c)

Cash at bank -$5,000

d)

Inventory +$5,000

e)

Inventory -$5,000

42.

Owner withdrew $400 cash for own use

a)

Cash at bank -$400

b)

Cash in hand +$400

c)

Cash at bank +$400

d)

Cash in hand -$400

e)

Drawings +$400

43.

Paid $800 cash for rent of premises

a)

Cash at bank -$800

b)

Rent income +$800

c)

Cash in hand -$800

d)

Rent +$800

e)

Rent -$800

44.

Paid $1,000 cash for worker’s wages

a)

Cash at bank -$1,000

b)

Cash at bank +$1,000

c)

Cash in hand -$1,000

d)

Cash in hand +$1,000

e)

Wages +$1,000

45.

Sold goods costing $5,000 on credit to Wong Brothers for $6,500

a)

Trade payable: Wong Brothers +$6,500

b)

Sales revenue +$6,500

c)

Cost of sales +$5,000

d)

Inventory -$5,000

e)

Trade receivable: Wong Brothers +$6,500

46.

Paid $3,000 cash to supplier for amount owing

a)

Inventory +$3,000

b)

Cash at bank -$3,000

c)

Cash in hand -$3,000

d)

Trade receivable -$3,000

e)

Trade payable -$3,000

47.

Received $1,000 cash from Wong Brothers

a)

Inventory +$1,000

b)

Cash at bank +$1,000

c)

Cash in hand +$1,000

d)

Trade payable: Wong Brothers -$1,000

e)

Trade receivable: Wong Brothers -$1,000

48.

Paid $120 for commission

a)

Cash in hand -$120

b)

Commission +$120

c)

Commission -$120

d)

Cash at bank -$120

e)

Capital +$120

49.

Donated $500 to St Luke’s Hospital

a)

Donation +$500

b)

Trade payable: St Luke's Hospital -$500

c)

Trade receivable: St Luke's Hospital -$500

d)

Cash at bank -$500

e)

Cash in hand -$500

50.

Bank charged $80 interest on amount overdrawn

a)

Interest -$80

b)

Interest +$80

c)

Cash in hand -$80

d)

Cash at bank -$80

e)

Drawings +$80

51.

Credit purchases from Sue $500.

a)

Cash in hand -$500

b)

Cash at bank -$500

c)

Trade receivable: Sue +$500

d)

Trade payable: Sue +$500

e)

Inventory +$500

52.

Credit sales to Chan $600. Goods cost $350

a)

Cash at bank +$600

b)

Trade receivable: Chan +$600

c)

Sales revenue +$600

d)

Cost of sales +$350

e)

Inventory -$350

53.

Owner withdrew goods worth $200 for personal use

a)

Cash at bank -$200

b)

Cash in hand -$200

c)

Inventory -$200

d)

Drawings +$200

e)

Drawings -$200

54.

The owner transferred $10,000 from his personal bank account to the business bank account

a)

Cash in hand -$10,000

b)

Cash in hand +$10,000

c)

Cash at bank -$10,000

d)

Cash at bank +$10,000

e)

Capital +$10,000

55.

Paid wages $800 by cheque

a)

Wages -$800

b)

Wages +$800

c)

Cash in hand -$800

d)

Cash at bank +$800

e)

Cash at bank -$800

56.

Received cheque $300 for rent

a)

Cash in hand +$300

b)

Cash in hand -$300

c)

Cash at bank +$300

d)

Rent +$300

e)

Rent income +$300

57.

Discount allowed to Chan $30

a)

Cash at bank -$30

b)

Cash in hand -$30

c)

Discount allowed +$30

d)

Trade receivable: Chan -$30

e)

Trade payable: Chan -$30

58.

Received $570 from Chan

a)

Trade receivable: Chan -$570

b)

Trade payable: Chan -$570

c)

Cash in hand +$570

d)

Cash at bank +$570

e)

Rent received +$570

59.

The owner brought in a delivery van $40,000 for business use

a)

Cash at bank +$40,000

b)

Cash in hand +$40,000

c)

Motor vehicle +$40,000

d)

Capital +$40,000

e)

Trade payable +$40,000

60.

Transferred cash $2,000 from office to bank.

a)

Capital +$2,000

b)

Cash in hand +$2,000

c)

Cash in hand -$2,000

d)

Cash at bank +$2,000

e)

Cash at bank -$2,000

61.

Discount received from Sue $25

a)

Discount received +$25

b)

Discount received -$25

c)

Trade payable: Sue -$25

d)

Trade receivable: Sue -$25

e)

Cash at bank +$25

62.

Paid Sue $475

a)

Trade receivable: Sue -$475

b)

Trade payable: Sue -$475

c)

Cash at bank -$475

d)

Cash in hand -$475

e)

Loan to Sue -$475

63.

Withdrew cash $1,000 from the bank for office use

a)

Cash in hand -$1,000

b)

Cash in hand +$1,000

c)

Cash at bank -$1,000

d)

Cash at bank +$1,000

e)

Drawings +$1,000

64.

Charged interest $80 on customer’s overdue account

a)

Interest +$80

b)

Interest income +$80

c)

Trade receivable +$80

d)

Trade payable +$80

e)

Interest -$80

65.

Paid suppliers $1,000 in full settlement of account $1,050

a)

Trade receivable -$1,050

b)

Trade payable -$1,050

c)

Cash at bank -$1,000

d)

Cash in hand -$1,000

e)

Discount received +$50

66.

Received from customers $3,000 in full settlement of account $3,100

a)

Trade payable -$3,100

b)

Trade receivable -$3,100

c)

Cash at bank +$3,000

d)

Cash in hand +$3,000

e)

Discount allowed +$100

67.

Received $1,200 for commission

a)

Commission +$1,200

b)

Commission -$1,200

c)

Commission income +$1,200

d)

Cash in hand +$1,200

e)

Cash at bank +$1,200

68.

Repaid bank loans of $5,000

a)

Trade receivable -$5,000

b)

Bank loan -$5,000

c)

Cash at bank -$5,000

d)

Cash in hand -$5,000

e)

Trade payable -$5,000

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