Small payments are entered in

Related MCQs

• A few errors committed in Ahhiwalia's books of account are given below. State which errors would affect the Trial Balance. (a) Sales of `950 to Ram completely omitted from books of account (b) Purchases of `720 from Shyam entered in the purchases journal as `700 (c) Purchases Journal is overcast by `1,000 (d) Sales returns journal is undercast by `200 (e) Amount paid to Agarwal wrongly posted to the debit to Mittal's account (f) Bank overdraft shown under debit column in the Trial Balance (g) Sales of `500 to Sadiq entered in sales journal as sales to Mushtaq (h) Wages paid for installation of machinery debited to wages account
• From the following details ascertain the adjusted Bank balance as per Cash Book — Overdraft as per Cash Book ` 80,000; Cheque received entered twice in the Cash Book ` 5,000; Credit side of bank column cast short by ` 500; Bank charges amounting to ` 200 entered twice; Cheque issued but dishonoured ` 2,000
• Which of the following statements is/are true? (i) Cash Book records all cash receipts and cash payments (ii) Cash Book records all sale and purchase transactions of goods both in cash and on credit (iii) Cash Book records discount on Cash Payments
• ABC Ltd. makes payments to its Sundry Creditors through cheques and the Cash Discount received on these payments is recorded in the Triple-columnar Cash Book. In the event of dishonour of any such cheques, the discount so received should be written back through (i) A debit to discount column of the Cash Book (ii) A credit to discount column of the Cash Book (iii) A credit to bank column of the Cash Book (iv) A debit to Discount Account through Journal Proper (v) A credit to Creditor‘s Account through Journal Proper
• ) A Receipts and Payments Account is nothing but a summary of all capital receipts and payments.
• Goods sold on credit will be entered in the
• Cash purchase of fixed asset is entered in the
• Purchase of assets are entered in nonprofit organization’s book is called
• Sold machinery worth Rs 10000 to Ramesh.it is entered in the
• Goods returned from X is entered as