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WorksheetsBK第二次线上评量
Total questions: 20
Worksheet time: 34mins
A cheque received from a customer is dishonoured. Which of the following statements represents the correct entry?
A debit in the Cash Book and a debit in the customer’s account.
A credit in the Cash Book and a debit in the customer’s account.
A debit in the Cash Book and a credit in the customer’s account.
A credit in the Cash Book and a credit in the customer’s account.
A person bought a television set at list price RM2,000 on credit. Trade discount was 10% and cash discount 5%. He settled his debt within the discount period. Which of the following entries in his book is correct?
Credit : Cash RM1,800
Debit : Debtors RM1,800
Debit : Debtors RM1,710
Credit : Cash RM1,710
A company bought goods of RM1,800 on credit at a trade discount of 10% from Lim Company. Entry for the trade discount of RM180 should be _
Debit : -
Credit : -
Debit : Discount Allowed
Credit : Lim Company
Debit : Lim Company
Credit : Discount Received
Debit: Lim Company
Credit : Trade Discount
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
A Petty Cash Book has an imprest of RM300. If the total amount of small payments paid out by the petty cashier is RM230 in a particular period, how much is usually topped up at the end of the period?
RM370
RM230
RM300
RM70
Petty Cash Book is a part of Ledger. In which part of the Statement Of Financial Position would Petty Cash balance appear?
Non-Current Liability
Current Liability
Current Assets
Non-Current Assets
A Bad Debt is the amount which is __________-.
incurred by the supplier
owed by one trader to another
not shown in the Trial Balance
unlikely to be paid by the debtor
A decrease in the Allowance for Doubtful Debts will_________.
decrease the cash balance
increase the profit for the year
decrease the profit for the year
increase the bad debts for the year
The balances in a company’s Sales Ledger total RM64,800. This amount includes RM3,000 owed by customer A who has disappeared.
The company wishes to make a 5% of allowance for doubtful debts on all debtors balances
What is the net amount of Accounts Receivable to be shown in the Statement Of Financial Position?
RM61,560
RM3,090
RM58,710
RM3,240
Give below is a Statement Of Financial Position extract as at 31 December 2015:
Accounts Receivable RM 185,000
Allowance for Doubtful Debts RM 4,625
In 2016 it is decided to maintain 221% of Allowance for Doubtful Debts. If the balance of debtors in 2016 amount to RM196,000, what is the amount of Allowance for Doubtful Debts to be debited to the Profit and Loss Account in 2016?
RM4,900
RM4,625
RM375
RM275
Bad debts can be classified as a/an _______________.
current asset
expense
non-current asset
equity
The cash discount is given to customers for ______.
early payments
bulk purchase
frequent purchases
good business relations
1 Jan Allowance for doubtful debts RM500
31 Dec Allowance for doubtful debts RM400
How should the allowance be treated in the Profit and Loss account?
Debit RM400
Credit RM400
Debit RM100
Credit RM100
Accounts Receivables :
2019 : RM2800;
2020 : RM3100
Allowance for doubtful debts :
2019 : RM280
2020: RM310
What is Net Realizable value for Accounts Receivables should appear in the Statement of Financial Position for 2020?
RM2520
RM2790
RM2510
RM3410
Accounts Receivables :
Year 1 : RM10,000
Year 2: RM12,000
Allowance for doubtful debts is 5% of Accounts Receivables.
What is the amount of the allowance to be charged in the Profit and Loss account for the second year?
RM100
RM600
RM500
RM400
The Balance of Petty Cash is :
An Expense
Revenue
An asset
Liability
In petty cash Book, the system followed:
Accrual System
Imprest System
Cash System
None of these
If Charles paid us RM133 and the business allows him 5% cash discount. What is the amount owed by Charles?
RM 126
RM 150
RM 140
RM 160
In three column cash book, when does contra entry occurs?
withdrawal of cash from bank
payment to creditors
withdrawal of cash from bank for personal use
all of the above
Monies that withdrawn from the bank account for business use are recorded:
as a Drawings transaction
as a Contra transaction
as a credit to Bank Only
as a debit to Cash Only
