When a transaction was recorded in a wrong class of account, the error is known as

A credit sale of RM10,000 to Lynda was credited to sales account but wrongly debited in Linda's account (a receivable). This is a/an _____________

A receivable account is overstated by RM1,200 and a payable account is also overstated by RM1,200. This is called a/an __________________

Adam Trading made settlement for utilities bills amounting to RM650 by cheque. However, the account clerk has credited the bank account with an amount of RM560. The error made by the account clerk is known as

An account clerk has mistakenly recorded a rent received by cheque by debited rent received account and credited bank account. Identify the error:

One of the errors that affect Trial Balance agreement is

Payment for repairs of motor vehicle by cash RM800 was correctly recorded in the cash account but incorrectly recorded in the motor vehicle account. Identify the error:

The cash sales to Mike Trading amounting to RM800 had only been recorded in the credit side of sales account. The error involved in the transaction is called ______________

The repair and maintenance expense amounting to RM1,500 had been recorded in the credit side of both accounts.

Which of the following best describe this error.

The drawings of goods amounted to RM900 had been recorded as RM960 in the general journal.

The name of this error is __________________

A receipt of RM2,800 from Alpha Co, an account receivable had been posted to the credit side of Alphad Co in error.

The correction of this error should be made in ________________

"Paid cash RM850 for repair to motor van had been debited to motor van account".

Which of the following is the correcting entry for this error?

Purchased of goods from Syarikat Ummah Trading RM2,800 was credited in the Purchase account and debited in the Syarikat Ummah Trading.

The journal entry for the correction of this error is _____________

Given the following error:

"A purchase of office furniture by cash amounted to RM1,600 was not recorded in the cash account"

Which of the following is the technique to correct this error?

in a manufacturing account, prime cost comprises three cost: direct materials, direct labour and production overheads

in a manufacturing account, prime cost comprises three cost: direct materials, direct labour and production overheads

a manufacturing accounts records the administrative expenses and the finance expenses of the business

Cost of raw materials used is calculated as opening inventory of raw materials + purchases - closing inventory of raw materials

changes in work in progress are shown in the manufacturing account and changes in the inventory of finished goods are shown in the trading section of the income statement

the SOFP of manufacturing business shows only the closing inventory value of finished goods

A manufacturing account shows a figure for cost of raw materials used $60 000. During the period of the account, production was 30 000 units of output. This means that the unit cost of goods manufactured is $2 per unit

the use of transfer price enables a factory to make a contractual (notional) profit which is added into profit for the year in the income statement

a manufacturing business values its finished goods inventory at $22,000 including a manufacturing profit of 10%. Therefore, the manufacturing cost of these goods is $9,800.

A cash deposit made by customer appears on the bank statement as _______ balance.

If the final balance of the bank statement is credit, it indicates that the business owes the bank money.

If the bank charges the business fees, the bank makes a debit entry in the bank statement.

What do we call a cheque that the bank refused to pay the payee because the drawer has insufficient funds in his current account?

Which of the following is already recorded in the Cash at Bank account but not in the Bank Statement?

What to be recorded for updating cash book? (more than 1 answer)

What to be recorded in a bank reconciliation? (more than 1 answer)

The following are the reasons for dissimilarity between balances in the bank statement and the cash book, except

In preparing a bank reconciliation statement, which of the following items will not be included in updating the cash book?

A bank reconciliation statement is a statement that is

Uncredited cheques are

Direct debit means

A cheque is drawn by the business for RM609 for payment of liability was recorded in the journal as RM906. This item would be included in the bank reconciliation as _________.

A cheque received from a debtor on 28 April 20x8 was credited into the bank on 30 April 20x8. However, on 7 May 20x8, the bank returned the cheque. This is known as _______.

The bank reconciliation statement shows a debit balance RM2,470 as per the cash book, unpresented cheques amounting to RM858, and a credit balance of RM1,198 as per the bank statement. What is the amount of the deposits not yet credited?