WorksheetsBasic Accounting
Total questions: 17
Worksheet time: 17mins
What is accounting
a mandatory element of financial statement
the language which provides information about an organization financial position
list of assets
Please choose all receivables:
funds from the rented flat
salary
funds to be received from loan
Please choose all answers which describe our payables:
refer a friend program at work
loan repayment
monthly bill for phone
Which answer is correct?
The balance sheet is a list of assets and source of financing prepared at a given date and defined format
double entry means that booking could be done just on one side
a cost account belonging to a group of Balance sheet account
Where did you book income from sales?
Dt side
Ct side
both
Where did you book cost paid bank charges?
Dt side
Ct side
both
Where did you book incoming payment in Bank account?
Both
Ct side
Dt side
Choose the right booking of financial transactions: Materials purchase paid from bank account:
DT Materials / CT Bank account
DT Bank account / CT Materials
CT Cash / DT Bank account
Active balance sheet account principle mean:
DT + / CT -
DT - / CT +
DT + / CT +
Passive balance sheet account principle mean?
DT +/ CT +
CT +/DT -
DT + / CT -
Profit and loss are...
commercial document issued by the buyer
a document used to charge the cost or service
the financial statement informed about financial results, which compare revenue, profits, costs, and losses
Profit and loss account principle means:
CT all costs / DT all profits
DT all costs / CT all losses
DT is all costs, losses / CT is all revenue and profits
A business has the following items in it: Land 1.000.000, Machinery 20.000, Cash 10.000. What is the value of owner equity?
1.000.000
1.020.000
1.030.000
A business has the following items: Land 1.000.000, Machinery 20.000, Cash 10.000, Loan 500.000. What is the value of owner equity?
500.000
1.000.000
530.000
Total of the debit entries into Bank account amounted to 2.000 and total of the credit entry into Bank account amounted to 1.500. What is the balance of Bank account?
500 debit balance
500 credit balance
400 debit balance
Please book transaction below: Invoice received for electricity.
DT Bank account/ CT Cost
DT Liabilities / CT Cost
DT Cost / CT Liabilities
Invoice was paid for electricity with bank transfer, what will be the correct posting?
DT Liabilities / CT Bank account
DT Bank account / CT Liabilities
DT Bank account / CT Cost
