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FA - Journal Entries (New)

Total questions: 35

Worksheet time: 35mins

Name
Class
Date
1.

A sale of goods to Raani for cash is debited to_______

a)

Raani

b)

Cash

c)

Sales

2.

A withdrawal of cash from business by the proprietor is credited to __________

a)

Cash

b)

Drawing

c)

Capital

d)

Business

3.

Samir who trades in electronic goods,gifted a television to his daughter.Will it be recorded in the books of accounts.

a)

Yes

b)

No

4.

Cash paid to Leena debited in to _______A/c

a)

Cash

b)

Leena

c)

bank

5.

Rent Outstanding have ________balance

a)

Credit

b)

Debit

6.

"The owner invested cash BD100 in the business" Cr. side for this transaction is

a)

Capital

b)

Revenue

c)

Drawings

d)

Non of the answers

7.

"Company purchased equipment for 3000 cash" what is the Dr side for this transaction?

a)

Equipment

b)

Cash

c)

Capital

d)

Asset

8.

"The Company paid cash 2000 to creditor". It recorded in the general journal

a)

Dr. Account payable 2000 , Cr. Cash 2000

b)

Dr. Cash 2000, Cr. Account payable 2000

c)

Dr. Account Receivable 2000, Cr. Cash 2000

d)

Dr. Cash 2000, Cr. Account receivable 2000

9.

"Company received cash 4,000 from customer, which was on account ". It recorded in the general journal

a)

Dr. Cash 4000, Cr. Account Receivable 4000

b)

Dr. Account Receivable 4000, Cr. Cash 4000

c)

Dr. Account payable 4000, Cr. Cash 4000

d)

None

10.

Cr. side in journal entry is

a)

Liability, Revenues, and Capital

b)

Liability, Revenues, and Drawings

c)

Assets, Revenues, and Capital

d)

Liability, Expenses, and Capital

11.

Normal Balance of Prepaid Insurance is

a)

Dr. & Cr.

b)

Cr. side

c)

Dr. side

d)

None of the answers

12.

Bad Debts earlier written off and now received are credited to :

a)

Bad Debts a/c

b)

Bad Debts Recovered a/c

c)

Miscellaneous Income a/c

d)

Debtor a/c

13.

Purchase of Machinery for Cash will be credited to :

a)

Cash a/c

b)

Machinery a/c

c)

Purchases a/c

d)

None of these

14.

No entry is made in the books of account of:

a)

Cash Discount

b)

Discount Allowed

c)

Trade Discount

d)

Discount Received

15.

Which account will be credited when goods are given away as Charity?

a)

Purchases a/c

b)

Drawings a/c

c)

Sales a/c

d)

Charity a/c

16.

Rent paid to Landlord should be debited to:

a)

Drawings a/c

b)

Rent a/c

c)

Landlord's a/c

d)

Personal a/c

17.

Debit means:

a)

an decrease in asset

b)

an increase in a liability

c)

an increase in proprietor's equity

d)

a increase in asset

18.

Sundry creditors account is a :

a)

Revenue a/c

b)

Capital a/c

c)

Liability a/c

d)

Asset a/c

19.

Payment of rupees 6000 as wages to workers for installation of machine should be debited to

a)

Wages account

b)

Repairs account

c)

Machinery account

20.

Goods worth rupees 7000 given away as charity should be credited to

a)

Sales account

b)

Purchases account

c)

Charity account

d)

Trustee account

21.

What should be the amount of capital if cash is Rs5,000,furniture Rs12000,stock Rs30000 and creditors 6,000

(a)  

22.

Journal records the transactions of the form in a.....

a)

Periodical manner

b)

Chronological order

c)

Summarised manner

d)

Systematic order

23.

Trade discount allowed is deducted from the gross sales. Sales is recorded in the business books of account at :

a)

(a) Gross sales and trade separately

b)

(b) Net sales invoice

c)

(c) None of the above

d)

(d) Any of (a) and (b)

24.

Nominal accounts are related to ?

a)

(a) assets and liabilities

b)

(b) expenses and incomes

c)

(c) customers and creditors

d)

(d) none of these

25.

The basic rule of book - keeping 'debit the receiver and credit the giver' ?

a)

(a) personal a/c

b)

(b) real a/c

c)

(c) nominal a/c

d)

(d) none of these

26.

Sale of goods to X will be debited to ?

a)

(a) cash a/c

b)

(b) sales a/c

c)

(c) X a/c

d)

(d) none of these

27.

Premium paid on Life insurance policy of the proprietor will be debited to........ Account

a)

Cash

b)

Life insurance policy

c)

Premium

d)

Drawing

28.

Salary paid to Ramesh 2000 in cheque.

Credited to .......................

a)

Cash

b)

Salary

c)

Ramesh

d)

Bank

29.
Business purchased inventory with cash.
a)
Dr Inventory 
     Cr Cash at bank
b)
Dr Goods
     Cr Cash in hand
c)
Dr Purchases
     Cr Cash in hand
d)
Dr Inventory
     Cr Cash in hand
30.
Received interest income in business bank account.
a)
Dr Cash at bank
     Cr Interest income
b)
Dr Cash in hand 
     Cr Interest income
c)
Dr Cash at bank
 Cr Interest expense
d)
Dr Cash in hand
Cr Cash at bank
31.
Owner took goods from warehouse home for his own use.
a)
Dr Inventory
Cr Cash at bank
b)
Dr Inventory
Cr Drawings
c)
Dr Drawings
Cr Own use
d)
Dr Drawings
Cr Inventory
32.
Business paid cheque for rent expense.
a)
Dr Rent expense
     Cr Cash in hand
b)
Dr Rent expense
     Cr Cash at bank
c)
Dr Rent expense
Cr Cheque
d)
Dr Cash at bank
     Cr Rent expense
33.
Owner contributes office equipment to the business.
a)
Dr Cash at bank
     Cr Capital
b)
Dr Capital
     Cr Office eqmt
c)
Dr Office equipment
     Cr Capital
d)
Dr Office equipment 
     Cr Cash at bank
34.

Interest Received on Fixed deposite.

Debited to .......................

a)

Cash

b)

Bank

c)

Interest Received

d)

Interest

35.

Goods Purchase Rs. 2000 from Y. half of the amount received in cash.

Purchase A/c .....................

a)

Debited with 1000

b)

Debited with 2000

c)

Credited with 1000

d)

Credited with 2000

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