WorksheetsSenior 1 - Bookkeeping
Total questions: 20
Worksheet time: 24mins
Discount Received are
Deducted when we receive cash
Deducted to us when we pay our accounts
Given by us when we sell goods on credit
None of the above
Which of the following balances is to be shown in the Statement of Financial Position as Non- Current liability?
Other Payable
Accounts Payable
Bank Overdraft
Bank Loan
Which of the following is a debit balance?
Accounts Payable
Salaries
Bank Overdraft
Loan from Ali
Expenses recorded in the Petty Cash Book are posted to ________________.
A the debit side of Cash Book
the debit side of expenses accounts in General Ledger
The credit side of expenses accounts in General Ledger
The credit side of personal accounts in Creditors Ledger
If the owner himself supplies all the resources for the use of his business, then the accounting equation would be ___________.
Capital = Assets
Capital = Liabilities
Capital = Assets - Liabilities
Capital = Assets + Liabilities
Which of the following should not be called “Sales”?
Office Fixture sold
Goods sold on credit
Goods sold for cash
Sale of item previously included in ‘Purchases’
An alternative name for a Sales Journal is
Sales Invoice
Daily Sales
Sales Ledger
Sales Day Book
A credit balance of RM 400 on the cash columns of the cash book would mean
The book-keeper has made a mistake
We have RM 400 cash in hand
We have spent RM 400 more than we have received
Someone has stolen RM 400 cash
Which of the following is not an Accounting Transaction?
Cash Sales
Order accepted
Cash Purchases
Owner withdraws cash for own use
__________ are shown in Statement of Financial Position.
Revenues and Assets
Assets, Liabilities and Owner’s Equity
Revenues and Expenses
Capital, Revenues and Expenses
Enterprise usually pays its short-term debts_______.
Within half year
After half year
Within one year
After one year
Which of the following is an Asset?
Land
Stationery
Rent Received
Drawings
Which of the following is a liability?
Trade Receivables
Capital
Bank overdraft
Expenses
___________ is used in checking on the posting to see if they are correct.
Trial Balance
Profit and Loss Account
Trading Account
Statement of Financial Position
Repairs of van is a/an_________.
Expenses
Income
Asset
Liability
RM50 cash taken from the cash till and banked is entered
Debit cash column RM50 ; Credit bank column RM50
Debit bank column RM50 ; Credit cash column RM50
Debit cash column RM50 ; Credit cash column RM50
Debit bank column RM50 ; Credit bank column RM50
Which of the following is not a Non-Current Asset?
Bank
Office Equipment
Freehold land
Premises
High Net Sales but low Gross Profit, this means_________.
Low Cost of Sales
High Cost of Sales
Low Operating Expenses
High Operating Expenses
Which of the following cannot be entered into Trial Balance?
Opening Inventory
Closing Inventory
Capital
Drawings
Which of the following is incorrect?
Assets = 7,850 Liabilities = 1,250 Capital= 6,600
Assets = 8,200 Liabilities = 2,800 Capital= 5,400
Assets = 9,550 Liabilities = 1,150 Capital= 8,200
Assets = 6,540 Liabilities = 1,120 Capital= 5,420
