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Worksheetsمراجعة قبل الوقفة التعليمية الاولى -مقرر محا212
Total questions: 16
Worksheet time: 18mins
chapter 1 •Ahmed purchased goods for BD8,000 from Abdulla, terms 2/10 n, 30. If Ahmed paid within a discount period, the payment cash is BD7,840:
true
false
chapter 1/ fawaz purchased goods for BD10,000 from Rehab, terms 5/15 n, 30. The journal entry must be r-ecorded,
• Dr. Merchandise Inventory
Cr. Cash
True
False
chapter 1/ perpetual inventory system apply on service business
True
False
chapter 1 / perpetual inventory system is a double entry system.
True
False
chapter 1/ On Jan 1 2020, Sara Company invested cash BD 50,000 in the business. It recorded in the general journal:
Dr. Capital
Cr. Cash
Dr.Cash
Cr.Capital
chapter 1/ On Jan 2 2020, Maryam Company purchased merchandise from Raja Est, BD8,000 for cash. It recorded in the general journal:
Dr.Cash
Cr. Capital
Dr. Merchandise inventory
Cr. Cash
Dr. Cash
Cr. Merchandise inventory
chapter1/ On Jan 7 2020, Salman’s Company purchased merchandise from Sultan Est, BD5,500
on account. It recorded in the general journal:
Dr.Merchandise inventory
Cr. Cash
Dr. Merchandise inventory
Cr. Account payable
Dr.Cash
Cr.Merchandise inventory
Dr.Account payable
Cr.Merchandise inventory
chapter 1/ Bader’s Company uses the perpetual inventory system and had the following transactions during October 2020:
Oct 2: Purchased merchandise for BD5000. The seller credit terms are 4/10, n/30.
Oct 6: Returned merchandise for BD300 worth of defective units on credit.
Oct 8: Paid the amount due, less the returned items.
Required:
Prepare journal entries to record each of the preceding transactions.
chapter 2/ Purchase goods on account with discount:
2 /10, n/30
this terms mean
10 % Discount
30 % Discount
2% Discount
chapter 3/ Method of Write-off for uncollected amount are:
4
3
2
chapter 3/ On Jan 1 2020 , Noora Company has BD 7,300 balance of account receivable and decided to write off as unncollectable Salma’s BD500 balance.
Bad Debts exp 500
Account receivable 500
Bad Debts exp 7300
Account receivable 7300
Account receivable 500
Bad Debts exp 500
On Jan 12 2019, Aisha won money and paid BD500 from her balance which wrote off on Jan 1 2020. This entry called
Recovery stage
Providing service stage
write-off stage
Abdulla Company has credit sales of BD500,000 in 2018. Of this amount , BD100,000 remains uncollectible and credit balance of allowance for doubtful accounts BD20,000 at Dec 31 2018. The manger estimated that 10% of credit sales will be uncollectible.
Dr.Bad Debts Expense (20,000×10%) 20,000
Cr. Allowance for Doubtful Accounts 20,000
Dr.Bad Debts Expense (100,000×10%) 10,000
Cr. Allowance for Doubtful Accounts 10,000
Dr.Bad Debts Expense (500,000×10%) 50,000
Cr. Allowance for Doubtful Accounts 50,000
The retailer generally considers sales from the use of national credit card (Visa & Master Card) sales as
Cash Sales
Credit sales
chapter 3/The retailer generally considers sales from the use of national credit card (American &Diner’s Club Card) sales as
Credit sales
cash sales
The following an aging schedule for khalid Company.
If the trail balance shows allowance for doubtful accounts with a credit balance of BD4,400,
1- Prepare the necessary journal entries for estimating bad debts expense.
Bad Debts Expense 7000
Allowance for Doubtful Accounts 7000
Bad Debts Expense 5000
Allowance for Doubtful Accounts 5000
