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DC Advanced

Advanced Bookkeeping Techniques

QuestionAnswer
Which best describes the journal? It is the primary accounting record for non-regular transactions
Which one will be recorded in the journal? Purchase of a fixed asset on credit
Finance year end balance phone account - £800 Of this one-quarter estimated amount private usage. Which journal entry used to record this adjustment? Dr drawings account £200, Cr telephone account £200
£54 debited vehicle expenses account instead of general expenses account. Which journal entry used to correct error? Dr general expenses account £54, Cr vehicle expenses account £54
Which error will be shown by a trial balance? Recording of two debits for a transaction
Which causes difference in a trial balance? Credit sale transaction entered Sales & VAT a/cs, but not recorded in Sales Ledger Control Account
Trial Balance fails to agree £250 difference placed in Suspense A/c. Sales Return this amount S Johnson, debtor, not been entered in Sales Returns account. Which journal entry is used? Dr Sales Returns account, Cr Suspense account
Which sides Sales Ledger Control A/c do items appear: Credit Sales, Sales Returns, Payments Received? Dr: credit Sales. Cr: Sales Returns, Payments Received
Calculate balance SLCA last month information: Dr balance b/d start month £24,350, Credit Sales £32,850, Payments Received £30,450, Cash Discount Allowed £1,350.
Created by: teresa1903