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WorksheetsDOUBLE ENTRY (3E) PART 5
Total questions: 10
Worksheet time: 3mins
ODD one out.
cash in hand
cash at bank
motor vehicle
capital
ODD one out.
trade payable
trade receivable
office equipment
fixtures and fittings
ODD one out.
sales revenue
cost of sales
advertising expense
rental expense
When goods are SOLD
DR inventory
CR cost of sales
DR cost of sales
CR inventory
When goods are BOUGHT on CREDIT
DR inventory
CR trade payable
DR trade payable
CR inventory
When goods are SOLD and cash received. DR cost of sales CR inventory
DR sales revenue
CR cash in hand
DR cash in hand
CR sales revenue
When cash payment is made to a trade payable.
DR cash in hand
CR trade payable
DR trade payable
CR cash in hand
When cash is received from a trade receivable.
DR cash in hand
CR trade receivable
DR trade receivable
CR cash in hand
When a loan is taken.
DR cash at bank
CR loan
DR loan
CR cash at bank
When a loan is REPAID .
DR cash at bank
CR loan
DR loan
CR cash at bank
