We sold goods to R. Martin on credit for $500. How would this be recorded in the Day Book and Ledger??
Sales Journal and Sales Ledger
Oops!
Check
Okay!
Check
10
If there is a balance brought down on the credit side of the Cash book this indicates what?
An overdraft
Oops!
Check
Okay!
Check
10
A trade discount is given where would this be shown?
On the Invoice
Oops!
Check
Okay!
Check
10
We bought some goods on credit from R. Maye what are the Day books and ledgers used to record this?
Purchases Day book and Purchases Ledger
Oops!
Check
Okay!
Check
lifesaver
Give 25 points!
Oops!
rocket
Go to first place!
Okay!
rocket
Go to first place!
Okay!
banana
Go to last place!
Oops!
heart
Other team wins 20 points!
Oops!
magnet
Take 15 points!
Okay!
gift
Win 25 points!
Okay!
lifesaver
Give 5 points!
Oops!
5
What type of transactions are recorded in the petty cash book?
Small cash payments due
Oops!
Check
Okay!
Check
10
The general journal can be used to record transactions such as opening capital accounts and correction of errors. True or False?
Oops!
Check
Okay!
Check
5
What type of transactions are found in the Cash Book?
Cash and Bank transactions
Oops!
Check
Okay!
Check
5
Return inwards is recorded in the return inwards ledger true or false?
False
Oops!
Check
Okay!
Check
10
What is meant by the imprest system for petty cash book?
A system where the cashier starts with an opening balance "float" and at the end of the month the float is replaced with all of the money that was spent
Oops!
Check
Okay!
Check
5
Return outwards is recorded in the return outwards journal. true or false?
True
Oops!
Check
Okay!
Check
5
What document is used when placing an order as a buyer?
Purchase Order
Oops!
Check
Okay!
Check
5
What must be filled out before money is withdrawn from the petty cashier draw?
Petty Cash Voucher
Oops!
Check
Okay!
Check
10
If a trade discount is given on a transaction for a sale this would be recorded in the journal. True or False
