WorksheetsF4 POA Quiz - Cash book, Petty Cash, Books of Original Entry
Total questions: 40
Worksheet time: 37mins
There are (a) books of original entry. (do not include petty cash in your count)
The books of original entry are also called books of (a) entry.
Choose the book of original entry from the options.
Sales ledger
Sales journal
Trial Balance
Income Statement
Which is the first step in the accounting cycle?
Prepare the trial balance
Prepare the Income Statement
Sort and analyse source documents
Post to ledger
Which is the last step in the accounting cycle?
Sort and analyse source documents
Post to the ledger
Prepare the final accounts
Extract a Trial Balance
The Income Statement is prepared from the list of items in the_____________ .
Journal
Ledger
Trial Balance
Cash Book
Which book of original entry records goods sold on credit?
Sales journal
Purchases journal
Cash Book
Which ledger will record the accounts of payables (suppliers)?
Sales ledger
Purchases ledger
General ledger
Which book of original entry records all transactions involving cash and cheques?
Sales journal
Purchases journal
Cash book
Sales ledger
The names in the Sales Journal are______________ ?
Accounts receivables
Accounts payables
Persons who bought goods for cash
The term used when the business returns goods to its suppliers?
Returns outwards
Returns inwards
Discount allowed
Discount received
The discount given, shown on the invoice, to allow a business to make a profit on resale.
Discount allowed
DIscount received
Trade discount
Cash discount
Receipts, bills, cheque counterfoils are source documents for which book of original entry?
Sales journal
Purchases journal
Cash book
Purchases ledger
T accounts are drawn up in which accounting books?
Journals
Ledgers
Machinery sold on credit should be recorded in the sales journal.
True
False
Write one acronym which may be seen in the folio column.
(a)
Which discounts are recorded in the Cash Book?
Discount allowed and Trade Discount
Discount received and Trade Discount
Discount allowed and Discount received
A purchase invoice of $300 was received with a 10% trade discount. What was the final amount of the invoice? (write the number only without the $)
(a)
One of these things is not like the other. Can you tell me which thing is not like the other?
Cash
Accounts payables
Accounts receivables
Inventory
The total Discount Allowed is entered on which side of the Discount Allowed account?
Debit
Credit
A book that combines both the cash and bank account is called a ___________.
Ledgers
Journals
Cash Book
Petty Cash Book
Cash book records ___________ receipts and payments.
cash
credit
cash and credit both
either cash or credit
neither cash nor credit
Cash book is a form of ____________.
Trial Balance
Ledger
Journal
All of the above
There are two cash columns on the debit side and two banks columns on the credit side.
TRUE
FALSE
The balance of the cash column in the cash book never shows a:
Credit Balance
Debit Balance
None of the above
All of the above
When the business receives money, the amount is recorded on the (a) side of the cash book.
Which of the following will not recorded on debit side of cash book?
Cash Sales
Drawings
Credit Sales
Cash Purchases
Which discount happens when the business gives its customers a cash discount?
(a)
Mr A purchased goods on credit from Mr B. This transaction should be recorded into Cash Book.
Yes
No
On Aug 7, Joash paid rent by cheque for $505. How should this transaction be entered in the cash book?
( Ans. format: Dr/Cr Cash/Bank column $ (a) ).
'C' in the folio column stands for (a) .
In three column Cash Book, when does contra entry occurs?
(a) Withdrawal of cash from bank
(b) Payment to creditors
(c) Withdrawal of cash from bank for personal use
(d) all of the above
A Balance c/d on April 30, will appear as what in the new month?
Balance c/d May 30
Balance b/d April 1
Balance b/d May 1
Balance c/d April 30
A book of account used to record small payments is known as the ……
Cash book
Petty cash book
Sales daybook
Ledger book
Which of the following transactions should be entered in the Petty Cash Book?
Salary payments
Stock issued
Subscriptions
Travelling expenses
What is the cash use for the petty cash book called？
Float
Expense
Cheque
None of the above
In petty cash Book, the system followed:
Accrual System
Imprest System
Cash System
None of these
The Balance of Petty Cash is :
(a) An Expense
(b) Revenue
(c) An asset
(d) Liability
Imprest amount - $500.
What will be the amount of re-imbursement if following expenses were incurred by the petty cashier during the month?
Telephone = $150
Tiffin = $50
Small Repairs = $30
General Expenses = $100
300
170
330
270
Postage stamps purchased for $30 by business. This transaction will be recorded in:
Purchase book
Cash Book
Petty Cash Book
Journal
