Can someone please answer these questions

41.In Dalveers cash receipt book for the month of June the trade receivables column totaled $6,570.

What does this amount represent?

a) The amount invoiced to Dalveers customers during June

b) The amount owed by Dalveers customers at the end of June

c) The amount received from Dalveers customers during June

d) The amount of goods returned by Dalveers customers during June

42. Jenny has a bank balance of $550 at the start of the week. During the week the following transactions occur

Day 1 She sells goods on credit for $876

Day 2 She receives a cheque for $400 from a credit customer

Day 3 She purchases office equipment with a list price of $1,000 but receives a 10 % discount for paying immediately by cheque

How much does Jenny have in the bank at the end of the week?

a) $2,826

b) $400

c) $50

d) $126

43. Which of the following are books of prime entry?

1) Sales day book

2) Payables ledger

3) Journal

4) Cash book

Answers

a) 1 3 and 4 b) 1 2 and 4

c) 2 3 and 4 d) 1 2 and 3

44. Pimlico owes Vauxhall for some goods it recently bought. Pimlico are settling the invoice early to obtain a discount.

What is the correct double entry for this in Vauxhall books?

a) Dr Vauxhall

Cr Bank

Cr Discount Received

b) Dr Vauxhall

Dr Discount Received

Cr Bank

c) Dr Bank

Cr Revenue

Cr Pimlico

d) Dr Bank

Dr Revenue

Cr Pimlico

45.Fred works on a car factory assembly line and is paid a rate of $4.50/ hour for a 35-hour week. All overtime is paid at time and a half. In addition, a piecework rate of $25 for every car assembled each week is paid.

Lat week Fred worked 46 hours and completed the assembly of 3 cars.

How much is Freds gross pay for the week?

a) $282.00

b) $256.75

c) $306.75

d) 385.50

46.Which of the following will help to reduce overdue balance in receivables ledger accounts?

a) Improved debt collection methods

b) An increase in the bank overdraft facility

c) Credit customers paying invoices more slowly

d) An increase in credit facilities to customers

47. Carion sells the following goods for cash during January:

Net price Sales tax

$ $

5 Jan To Maurice 386 68

19 Jan To Harris 715 125

28 Jan To Merton 430 75

What are the correct entries in Carion general ledger?

a) Dr Sales $1,799 Dr Sales tax $268 Cr Cash $2,067

b) Dr Cash $2,067 Cr Sales $1,799 Cr Sales tax $268

c) Dr Sales $1,531 Dr Sales tax $268 Cr Cash $1,799

d) Dr Cash $1,799 Cr Sales $1,531 Cr Sales tax $268

48. What journal entry would be posted if a sole trader starts a business by introducing his cash savings and a car into the

business?

a) Dr Motor vehicle Dr Bank Cr Capital

b) Dr Bank Cr Motor vehicles Cr Bank

c) Dr Capital Cr Motor vehicles Cr Bank

d) Dr Motor vehicles Cr Capital Cr Bank

49. Malinda sent a payment to Nicholas along with a document detailing the items and invoices the payment related to

What is this document known as?

a) Debit note

b) Credit note

c) Remittance advice

d) Delivery note

50. Ria prepared her trial balance and had to include a suspense account to make it balance. She subsequently discovered that the receivables control account has been overstated by $12,300.

What was the balance on the suspense account when the trial balance was initially extracted?

a) $12,300 debit

b) 12,300 credit

c) $24,600 debit

d) $24,600 credit