Sahara’s business received a cheque from debtors of Rs. 20 000 subjected to a 10% discount. The

double entry relevant to this transaction is,

Sanaka’s business paid Rs. 7 200 in cash to the creditors and the discount received was Rs. 800.

The double entry relevant to this transaction is,

Paid creditor Akith of the SMAK business Rs. 8 500 through a cheque. The discount given by

Akith was Rs. 5 00. The double entry relevant to this transaction is,

    The correct answer when column (A) is matched with column (B) is,

How to record the following transaction in the cash book. Select the answers in the correct order.

Dulanjanis’s business had a petty cash balance of Rs. 750 on 2023/01/31. On this day Rs. 1 250

was given by the main cashier for reimbursement. Accordingly, the petty cash expenses of this

business for January and the imprest of this business in correct order are,

The petty cash officer had the balance of Rs.1,200 as at 01.01.2024. Total petty cash expense for January was 3,800. The balance as at 31.01.2024 was Rs.400. What is the petty cash reimbursement for the dated 01.01.2024?

Select the answer in the correct order which states that the below statements are true or false

            i.   The cash book plays a dual role as a ledger account and as a prime entry book

          ii.   Cash discounts are given at the time of purchase and trade discounts are available at the time of

loan settlement.

        iii.   The cash and credit transactions are recorded in the cash book

        iv.   Trade discounts are recorded in accounts.

v. The accounts must be balanced to identify the balance of the account

The balance of petty cash – in the hand of the petty cashier was Rs.800 as at 29^th February 2024 of Lalani’s business. The balance of analysis columns of the petty cash book for February are shown below.

Transport Expenses            Rs.1,200

Stationary Expenses           Rs.2,600

Refreshment Expenses       Rs.1,400

Paid to Dananasooriya       Rs.4,000

The value of petty cash imprest of this business for February 2024 and the total value of ledger account column as at 28 February in correct order,

The bank considers the account of the business’s bank account balance as,

The credit balance of the bank account is for the business.

The double entry for depositing a cheque of RS 20 000 in bank account at the same time

it received from the sales.

If the business issued a cheque of RS 23 000 during a situation where the balance of the

bank account is RS 15 000. The bank settled this transaction. What is correct statement

about the balance of the bank account after this transaction?

The balance of the bank a/c of saduni’s business on 31st of may 2023 was RS 17 000.

The balance of the bank statement was different from the above balance due to following

reasons.

(A) Deposited but not cleared cheques RS 7 000.

(B) Dividends received directly to the bank RS 5 000.

(C) Insurance premiums paid by the bank loan on standing orders RS 4 500.

(i) - Out of the above what is the reason/s that affect for the exceed of the bank statement?

(ii) - The adjusted bank balance as at 31st of May 2023,

Select the answers in correct order

The closing balance of the bank account of Russia’s business was less than the closing

balance of the bank statement. The reason for this is,

The following transactions were revealed when comparing the bank, a/c and the bank

statement sent by the bank at Dilan's business for month of august 2023.

− Bank fee charged by the bank Rs 1,000.

− Cheques issued but not presented for the payment Rs 12, 000.

− Cleared cheques deposited Rs 5 000.

− Direct debtor remittances Rs 13,000.

− Deposited but not cleared cheques Rs 4 000.

− Bank loan installment paid on standing orders Rs 8 000.

Additional information:

− There is a credit balance of Rs 25 000 in the bank account of Dilan's business.

What was the bank statement balance as at 31.08.2023

The balance of the bank account of Sathsara business was Rs. 12 500 as at 31.03.2023. On the same

date, the bank statement balance was Rs.9000. Only one transaction affected for this change.

That transaction is

Select the transaction that is debited to the bank account when adjusting the balance of the bank account of the business after receiving the bank statement.

Cash in hand with the petty cashier of Deepal's business as at 01.09.2019 was Rs. 250. On

the same day petty cash imprest of Rs. 4750 was reimbursed. The total of petty cash expenses

for the month of September 2019 was Rs. 4200.

Select the answer that shows the cash in hand as at 30.09.2019 and the reimbursement as at

01.10.2019 in correct order.

What is the reason that does not become the cause for the difference between the balance of

bank statement and the balance of bank account of the business?

The favorable balance of the bank statement as at 01^st December 2020 is Rs. 20 000. Following are the transactions recorded by the bank during the month.

05/12 Cheques deposited Rs. 5 000

09/12 Payments of standing orders Rs. 8 000

15/12 Payments for the cheques issued to bank Rs. 12 000

25/12 Debtors' remittances Rs. 10 000

What is the balance of the bank statement as at 31st December 2020?

The debit balance of the bank account of the business as at 31.03.2016 was Rs. 15 600 while the balance of the bank statement was Rs. 15 100. The transaction that caused this difference is

Hondahitha stores, sold 10 packets of toffee each at Rs. 200 on credit and the trade discounts deducted was 10%. Due to this transaction in this business,

Value of the petty cash imprest of Amara's business is Rs. 2 000. Cash that remained with the petty cashier as at 31.01,2016 was Rs. 100. From 01.02.2016 onwards it is decided to increase the petty cash imprest of the business up to Rs. 3 000. What is the correct double entry to record the reimbursement of petty cash imprest on 01.02.2016?