WorksheetsS1 Bookkeeping -Term 1
Total questions: 20
Worksheet time: 13mins
The credit side of an account is on the ____________.
left side
right side
Which of the following is not an asset?
Buildings
Cash in hand
Accounts receivable
Loan
A sole trader, Boon invested RM 20,000 into the business bank account. What is the double entry to record this transaction?
Dr Bank
Cr Capital
Dr Capital
Cr Bank
Dr Capital
Cr Boon
Dr Boon
Cr Bank
Bought a computer by cash. What is the double entry to record this transaction?
Dr Office Equipment
Cr Cash
Dr Cash
Cr Office Equipment
Dr Cash
Cr Purchases
Dr Purchases
Cr Cash
Chan withdrew goods worth RM 500 from the business for his personal use. What is the double entry to record this transaction?
Dr Goods
Cr Chan
Dr Chan
Cr Drawings
Dr Drawings
Cr Purchases
Dr Purchases
Cr Drawings
Which if the following accounts usually has a credit balance?
Rent paid
Motor vehicle asset
Capital
Petty cash balance
Phone bills, wages and insurance are examples of _____________.
gains
revenue
capital
expenses
Please list out real accounts from the following items.
Inventory
Trade Receivable - Lee
Capital
Bank Loan
Sales account is _____________ account.
Real
Nominal
Personal
None of these
Mr A purchased goods on credit from Mr B but then returned them as they were faulty.
Which of the following statements would be true?
Mr A would send a credit note to Mr B
Mr A would send an invoice to Mr B
Mr B would send a credit note to Mr A
Mr B would send an invoice to Mr A
What is recorded in the purchases ledger?
Account Payable
Account receivables
If we return goods which are previously bought by cash and receive a cash refund, which Special Journal should be used?
Returns Outwards Book
Returns Inwards Book
General Journal
Cash Book
Where is the indication of Contra entry's C is showing?
Date column
Folio Column or Details Column
Bank amount column
Cash amount column
A specialized book which is used for recording all small payments or expenses made by a business in a particular period of time is called _______________.
Purchase ledger
Sales ledger
Cash book
Petty cash book
The method for controlling and recording the petty cash is called the _________________.
Petty Cash Book
General Journal
Cash Book System
Imprest System
“Taxi fare” will be recorded in the ______________ section of the petty cash book.
Postage
Transportation
Stationery
Sundry
Double entry for bad debts:
Dr Trade Receivables
Cr Bad Debts
Dr Bad Debts
Cr Trade Receivables
What will be happened if an increase in allowance for doubtful debts occurred?
expenses increased
expenses decreased
An allowance for doubtful debts was RM 90 and debtors was RM 4,500 at the end of an accounting period. The company decided to make the allowance up to 5% of the debtors. What would be the new allowance for doubtful debts?
RM 90
RM 135
RM 180
RM 225
