Worksheets12 accountancy
Total questions: 10
Worksheet time: 4mins
Mohan, from whom an amount of Rs. 12,000 was to be received became insolvent and 60 paise per rupee was received from his estate, What will be the amount debited to Cash A/c?
6000
12000
7200
8000
When recording the receipt of cash from a customer who had previously purchased goods on credit, which accounts are affected in the ledger?
Debit: Accounts Receivable, Credit: Sales
Debit: Cash, Credit: Accounts Receivable
Debit: Sales, Credit: Cash
Debit: Cash, Credit: Revenue
Which of the following is the primary purpose of a ledger in accounting?
To record financial transactions in chronological order
To prepare financial statements
To provide a summary of all accounts with their balances
To record cash transactions only
A journal entry in which two or more accounts are debited or credited, are known as?
Double Entry
Multi Entry
Additional Entry
Compound Entry
The salary paid to a clerk Ramesh should be credited to?
Salary A/C
Ramesh A/C
Cash A/C
P/L A/C
Which of the following account with a normal balance is shown at the credit side of a trial balance?
Bank
Equipment
Cash
Unpaid Expenses
What does a credit balance in the cash account on the trial balance indicate?
Cash is Overdrawn
Cash is a liability
Cash is an asset
Cash is an expense
In trial Balance, which account with normal balance is recorded in the credit side?
Bank Account
Equipment Account
Cash Account
Accrued Expenses Account
Which of the following account with normal balance is shown at the debit side of a trial balance?
Creditors Account
Sales A/c
Rent Income Account
Cash Account
A, B, C were partners sharing Profit and Losses in the ratio of 3:2:1 Books are closed on 31stMarch every year. C dies on 30th, Nov 2018. Under the partnership deed, the executors of deceased partner are entitled to his share of profit up to the date of death, Profit as on ended 31st Mar 2018 was Rs. 2,40,000 C’s share of profit will be
26667
40000
30000
53333
