10. What is the double entry for receiving a cheque from selling fixed asset?

Select one:

a. Debit bank, credit fixed asset.

b. Debit sales, credit bank.

c. Debit sales, credit fixed asset.

d. Debit fixed asset, credit bank

9. What is the double entry for the return of goods previously sold to Berries Trading on credit?

Select one:

a. Debit Berries Trading, credit purchases returns.

b. Debit sales returns, credit Berries Trading.

c. Debit purchases returns, credit Berries Trading.

d. Debit Berries Trading, credit sales returns.

8. The CEO Biru Laut Enterprise put in RM30,000 cash into the company as additional capital. How does this transaction affect the accounting equation?

Select one:

a. Add RM30,000 to cash account and add RM30,000 to revenue account.

b. Add RM30,000 to cash account and add RM30,000 to capital account.

c. Add RM30,000 to Cash account and add RM30,000 to Debtor account.

d. Add RM30,000 to dividends account and subtract RM30,000 to capital account.

4 An example if a current asset found in Statement of Financial Positions is:

Select one:

a. capital.

b. bank.

c. loan.

d. trade payables.