Tag: A-Level

What is the balance carried down on the following debtor account on the 20 June ………..?

Select ONE answer:

1. £520 debit
2. £520 credit
3. £1,250 credit
4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 1 – Total debits at 20 June is only £850 – Total credits £330 = difference c/fwd on credit side at that date of £520

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What is the balance carried down on the following debtor account on the 30 June ………..?

Select ONE answer:

1. £520 debit
2. £520 credit
3. £1,250 credit
4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 3 – Total debits £1,650 – Total credits £400 = difference c/fwd on credit side of £1,250

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What is the balance carried down on the following debtor account on the 31 May ………..?

Select ONE answer:

1. £380 debit
2. £395 credit
3. £395 debit
4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 2 – Total debits £745 – Total credits £350 = difference c/fwd on credit side of £395

This work is licensed under a Creative Commons Attribution 4.0 International License.

In the case of a garage which deals with the public, which of the following double-entries is the correct way to record the payment, by cheque, of an electricity bill for the current accounting period ………..?

Select ONE answer:

1. Account to Debit Bank / Account to Credit Electricity
2. Account to Debit Electricity / Account to Credit Cash
3. Account to Debit Electricity / Account to Credit Bank
4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 3 – All expenses are recorded as debit entries in the relevant expense account and the bank balance is thus reduced as a result through a credit.

This work is licensed under a Creative Commons Attribution 4.0 International License.

In the case of a DIY store, which of the following double-entries is the correct way to record the payment of council business rates for the for the current accounting period by cheque ………..?

Select ONE answer:

1. Account to Debit Bank / Account to Credit Rates
2. Account to Debit Rates / Account to Credit Bank
3. Account to Debit Expenses / Account to Credit Bank
4. None of the above

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple choice question is suitable for Accounting KS5 classes.

The answer is 2 – All expenses are recorded as debit entries in the relevant expense account and the bank balance is thus reduced as a result through a credit.

This work is licensed under a Creative Commons Attribution 4.0 International License.