Double entry & Ledger

Double entry involves ______ accounts.

• one

• two

• three

• four

State the double entry: Paid cash into bank.

• Debit : Cash

  Credit : Bank

• Debit: Bank

  Credit: Cash

• Debit: Bank

  Credit: Drawings

• Debit: Drawings

  Credit: Bank

Aisya bought goods by cash. Name the 2 accounts involve

• Goods and Aisya

• Goods and Cash

• Purchases and Cash

• Purchases and Aisya

When owner withdrew cash for personal use, what will the effect on its accounting equation?

• assets increase, liability increase

• assets decrease, liability decrease

• assets increase, equity increase

• assets decrease, equity decrease

Return goods worth $500 to Sy. Amin. Return goods here is _________

• Return inwards

• Return outwards

• Return backwards

• Return upwards

Begin business with cash in hand. State the double entry.

• Capital - Dr

  Cash - Cr

• Capital - Dr

  Bank - Cr

• Cash - Dr

  Capital - Cr

• Bank - Dr

  Capital - Cr

Took goods for personal use. It's double - entry are __________

• Drawings - Dr

  Goods - Cr

• Drawings - Dr

  Purchases - Cr

• Purchases - Dr

  Drawings - Cr

• Purchases - Dr

  Personal -Cr

State the effect of the following transaction on accounting equation:

Paid Amira by cheque

• decrease asset, decrease liability

• decrease asset, increase liability

• increase asset, decrease liability

• increase asset, increase liability

What are the 3 types of ledger?

• Sales, purchases and general

• Sales, purchases and journal

• Income, Sales and Purchases

• Income, Sales and Drawings

State the double-entry for the following transaction:

Bought machinery on credit from Mariam

• Purchases account, Machinery account

• Purchases account, Mariam account

• Machinery account, Mariam account

• Machinery account, Cash account