题目内容

A business owes $500 to a supplier. The supplier has also recently purchased goods on credit from the business of $200. They have agreed to offset these outstanding amounts. What would be the general ledger entries from the journal in the books of the business to account for this offset?

A. DR $200 Payables control account, CR $200 Receivables control account
B. DR $200 Receivables control account, CR $200 Payables control account
C. DR $300 Receivables control account, CR $300 Payables control account
DR $300 Payables control account, CR $300 Receivables control account

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Which of the following is NOT true of the journal?

A. It is a general ledger account
B. It is a book of prime entry
C. It can be used for the correction of errors
D. It can be used to account for irrecoverable debts

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The petty cash box contains vouchers in relation to payments of $235, vouchers in relation to receipts of cash of $35 and IOUs of $75. If the imprest is $750 how much cash should the petty cash box contain?

A. $750
B. $335
C. $555
D. $475

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A cash sale of $1,000 is made by a business but the cash is put into the petty cash box and recorded as sundry income in the petty cash book. At the month end the petty cash cashier discovers the error and pays the $1,000 into the bank. What general ledger entries are required to account for the correction of the error? (Ignore sales tax)

A. DR Sundry income: $1,000, CR Petty cash: $1,000, DR Sales: $1,000, CR Cash: $1,000
B. DR Sundry income: $1,000, CR Petty cash: $1,000, DR Cash: $1,000, CR Sales: $1,000
C. DR Petty cash: $1,000, CR Sundry income: $1,000, DR Sales: $1,000, CR Cash: $1000
DR Petty cash: $1,000, CR Sundry income, DR Cash: $1,000, CR Sales: $1,000

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Which of the following would never be an analysis column heading on the credit side of the petty cash book?

A. Sales tax
B. Sundry
C. Entertainment
D. Sales

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A business owes $500 to a supplier. The supplier has also recently purchased goods on credit from the business of $200. They have agreed to offset these outstanding amounts. What would be the general ledger entries from the journal in the books of the business to account for this offset?

A. DR $200 Payables control account, CR $200 Receivables control account B. DR $200 Receivables control account, CR $200 Payables control account C. DR $300 Receivables control account, CR $300 Payables control account DR $300 Payables control account, CR $300 Receivables control account

Which of the following is NOT true of the journal?

The petty cash box contains vouchers in relation to payments of $235, vouchers in relation to receipts of cash of $35 and IOUs of $75. If the imprest is $750 how much cash should the petty cash box contain?

Which of the following would never be an analysis column heading on the credit side of the petty cash book?

A. DR $200 Payables control account, CR $200 Receivables control account
B. DR $200 Receivables control account, CR $200 Payables control account
C. DR $300 Receivables control account, CR $300 Payables control account
DR $300 Payables control account, CR $300 Receivables control account