WorksheetsSec 3E HBL T3 Week 4
Total questions: 15
Worksheet time: 11mins
Cash of $2000 withdrawn from the business' bank for office use.
+Equipment
-Cash at bank
+Equipment
-Cash in hand
+Cash at bank
-Cash in hand
+Cash in hand
-Cash at bank
Received an invoice of $5000 for goods from Ace Trading.
This is a credit transaction involves in buying of goods.
This is a cash transaction involves in buying of goods
This is a credit transaction involves in the selling of goods
This is a cash transaction involves in the selling of goods
Invoice of $5000 was issued to Tan for goods costing $3800. Which of the followings is/are correct. You may choose more than 1 answer.
+Sales revenue 5000
+Cash at bank 5000
+Inventory 3800
-Cost of sales 3800
+Cost of sales 3800
-Inventory 3800
+Trade receivable 5000
+Sales revenue 5000
Credit note, $900, received for goods returned.
+Sales returns 900
-Trade receivables 900
-Trade receivables 900
-Sales revenue 900
+ Trade payable
900
+Inventory 900
-Trade payable 900
-Inventory 900
Owner used his personal cheque to pay for business insurance of $1800.
+Insurance 1800
- Cash at bank 1800
+Drawings 1800
+Insurance 1800
+Drawings 1800
-Cash at bank 1800
+Insurance 1800
+Capital 1800
Rent income of $5600 received was wrongly recorded as $6500 in the business' books.
+Rent income 900
+Cash at bank 900
-Rent income 900
+Cash at bank 900
-Rent income 900
-Cash at bank 900
+Rent income 900
-Cash at bank 900
Interest expense of $400 paid by cheque was recorded as Dr interest expense $40 and Cr Cash at bank $40. To corrrect......
-Interest expense 360
-Cash at bank 360
+Interest expense 360
-Cash at bank 360
+Interest expense
360
+cash at bank 360
-Interest expense 360
+Cash at bank 360
Cheque of $10000 was received from a credit customer in full settlement of a debt of $10500.
+Discount allowed 500
+Cash at bank 10500
+Discount allowed 500
+Cash at bank 10000
-Trade receivables 10500
+Discount received 500
+Cash at bank 10000
-Trade receivables 10500
+Discount received 500
+Cash at bank 10500
+
Goods returned by business to credit supplier will lead to .......
-Inventory
-Trade payable
+Inventory
+Trade payable
-Inventory
+Trade payable
-Trade payable
+Inventory
Defective goods returned by a credit customers will lead to .........
(You may choose more than one answer)
-Trade receivables
-Sales revenue
-Trade receivables
+Sales returns
-Inventory
+Cost of sales
+Inventory
-Cost of sales
Salaries of $8000 was wrongly recorded in the Utilities expense account.
+Salaries 8000
+Utilities 8000
+Salaries 8000
-Utilities 8000
+Utilities 8000
-Salaries 8000
-Utilities 8000
-Salaries 8000
Owner donated a computer won during lucky draw for business use. This will lead to ....
+Office equipment
+Capital
-Office equipment
+Capital
+Office equipment
-Capital
-Office equipment
-Capital
Cash, $580, was issued for full seetlement of debt of $600.
+Cash at bank 580
+Discount received 20
-Trade payable 600
-Cash in hand 580
+Discount allowed 20
-Trade payable 600
+Cash at bank 580
+Discount received 20
-Trade payable 600
-Cash in hand 580
+Discount received 20
-Trade payable 600
Credit note issued by the business represents goods returned by ______________ to _________________
business; credit supplier
credit customer; business
Cash of $1200 was deposited into the business' bank account.
+Cash in hand 1200
+Cash at bank 1200
-Cash in hand 1200
+Cash at bank 1200
-Cash in hand 1200
-Cash at bank 1200
+Cash in hand 1200
-Cash at bank 1200
