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JC Bookkeeping Exer
JC Business Studies Bookkeeping Exercise
| Question | Answer |
|---|---|
| Light and heat is a | Dr because it is a Expense |
| Stock is a | Dr because it is a Asset |
| Telephone is a | Dr because it is a Expense |
| Purchases returns is a | Cr because it is a Thing given |
| Equipment is a | Dr because it is an Asset |
| 10-year loan is a | Cr because it is a Liability |
| Delivery expenses is a | Dr because it is an Expense |
| Rent received is a | Cr because it is a Gain |
| Land and buildings is a | Dr because it is an Asset |
| Sales returns is a | Dr because it is a Thing received |
| Purchases is a | Dr because it is a Thing received |
| Bank current a/c is a | Dr because it is an Asset |
| Furniture and fittings is a | Dr because it is an Asset |
| Bank deposit a/c is a | Dr because it is an Asset |
| Wages and salaries is a | Dr because it is an Expense |
| Bank overdraft is a | Cr because it is a Liability |
| Machinery is a | Dr because it is an Asset |
| Rent paid is a | Dr because it is an Expense |
| Motor vehicles is a | Dr because it is an Asset |
| Sales is a | Cr because it is a Thing given |
| Moloney Ltd purchased a display unit from AB Furniture Supplies Ltd and paid by cheque. | Dr Furniture Account Cr Bank Account |
| Moloney Ltd purchased a delivery van from Elton Garages and paid by cheque. | Dr Delivery van Account Cr Bank Account |
| Moloney Ltd purchased a computer system (equipment) from Office Supplies Ltd and paid by cheque. | Dr Equipment Account Cr Bank Account |
| Moloney Ltd purchased chocolate and cake mix from Mandy's Wholesale and paid in cash. | Dr Purchases Account Cr Cash Account |
| Moloney Ltd purchased cardboard cake packing cases from LT Paper Products and paid by cheque. | Dr Purchases Account Cr Bank Account |
| Moloney Ltd sold cakes for cash. | Dr Cash Account Cr Sales Account |
| Moloney Ltd sold cakes and received payment by cheque. | Dr Bank Account Cr Sales Account |
| Moloney Ltd sold an old oven for cash. | Dr Cash Account Cr Equipment Account |
| Moloney Ltd paid wages by cheque. | Dr Wages Account Cr Bank Account |
| Moloney Ltd paid an electricity bill in cash. | Dr Electricity Account Cr Cash Account |
| Moloney Ltd received a commission from Celebration Cakes Ltd and lodged the cheque to the bank. | Dr Bank Account Cr Commission Received Account |
| Moloney Ltd paid their insurance premium by cheque. | Dr Insurance Account Cr Bank Account |
| Moloney Ltd paid for repairs to their computer system by cheque. | Dr Repairs Account Cr Bank Account |
| Moloney Ltd received a loan from Easy Terms Financial Services and lodged the cheque to their bank account. | Dr Bank Account Cr Loan Account |
Created by:
MrFromholz
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