Sold equipment by cash $700. What is the double entry to record this transaction?

Bought motor van paying by cheque $6000

X sells goods with a list price of $5000 to a credit customer. The customer is allowed a 5% trade discount and a further 2.5% cash discount if payment is within 20 days of the invoice date.

What amount should be credited to the Sales account of X?

The balance carried down is at the beginning of the month when balancing off accounts

The difference between the two sides at the beginning of a month,when balancing off accounts is called a balance brought forward

The sales Ledger accounts will normally carry a debit balance

The purchases Ledger accounts will normally carry a credit balance

Which of the following accounts would not be in the general ledger

If a business starts a month with $1000 cash in hand and paid rent of $500 cash and sold goods for cash for $600. What is the cash balance on the business cash book at the end of the month?

If a business starts a month with $4000 in the bank and paid rent of $500 cash, paid wages by cheque $700 and received $5000 cheque rom D. Dean. What is the bank balance on the business cash book at the end of the month?

Sold goods on credit to E. Hamilton $2500. She returned 1000 dollars of goods to us five days later and paid us $500 cash. What is the balance brought down on E. Hamilton's Account?

bought goods on credit from L. Duncan $9000. We returned 2000 dollars of goods and paid $7000 cash. what is the balance on our account with L. Duncan

Rent received is a revenue while rent is an expense.

What is the classification of the cash account?

Which side of the trial balance would advertising expense be placed on?

Which of the following is the correct definition for Trial Balance?

Where do you find the information for composing a Trial Balance?

What should you do if the Trial Balance is not balanced?

Asset Account will have a ___________ balance.

Which of the following appears in Credit column of Trial Balance (you may tick more than one answer):

Trial Balance verifies which kind of accuracy?

Opening stock is ____________ whereas salary is ____________ .

Trial Balance is a statement showing balances of: