Help me do all questions. There is questions 10-13 and questions 18-30 and also subjective questions . Need it by 5.30 PM
27. Which of the following does not appear in Statement of Financial Position? a Cash b. Building c. Debtor d. Rent expenses 28. Paid electricity by cash. Which of the following posting is correct? Dr: Cash, Cr: Electricity 6. Dr: Electricity, Cr: Cash Dr: Bank, Cr: Electricity d. None of the above 29. Find out the value of assets if Liabilities = $5000 and Capital = $1000: S4000 S6000 c. $7000 $3000 30. Money received from petty cash must be recorded on a Bank book b. Bit of paper Receipt book d. 4. Petty cash book Question 2 Complete the following table. Account to Account to be debited be credited a. Bought computer on credit from C. Ure Ltd b. A debtor, J.Pike paid us by cheque. Paid a creditor, D.Lord by cash. d. Proprietor puts further amount into the business by cheque. Returned machinery to Sam Ltd. le (10 marks) (Total: 20 marks) END OF PAPER 10. Which of the following best describes the meaning of *Purchases"? .. Items bought b. Goods paid for 11. c. Goods bought for resale 4. Goods bought on credit Which of the following is a liability? . Machinery b. Cash at bank 12 . Motor vehicles 4. Accounts payable for goods $50 cash taken from cash till and banked is entered: .. Debit cash column $50: Credit bank column $50 b. Debit bank column $50: Credit cash column $50 Debit cash column $50: Credit cash column $50 4. Debit bank column $50: Credit bank column $50 13. The Basic accounting equation is: 2. Assets Cash + Capital b. Asset = Expense + Income c. Assets = Capital + Liabilities 1. Assets - Expenses + Capital 18 Accounting is the information system that . Measures business activity 1. Communicate the results to decision makers Processes data into reports 1 All of the above 19. Which of the following should not be called "Sales? Office fixtures sold Goods sold on credit Goods sold for cash Sale of item previously included in "Purchases The resources owned by a business are called 20, Assets Liabilities Owner's equity & The accounting equation 21. The total of the Purchases Journal is transferred to the: Credit side of the Purchases Book Credit side of the Purchases Account Debit side of the Purchases Account Debit side of the Purchases Day Book Bank overdraft is: A current asset A current liability 22 A non-current asset 1 A non-current liability 23. Net profit is calculated in the: Trial balance 6. Trading account . Profit and loss account 4. Statement of financial position Gross profit is: Sales less purchases b. Net profit less expenses of the period c. Cost of goods sold + opening inventory d. Excess of sales over cost of goods sold 24. 25. Goods returned by customer should be debited to which of the following accounts? Sales income account Sales account c. Return inward account 4 Expenses account Which of these best describes non-current assets? Items which will not wear out quickly .Items bought to be used in the business c. Expensive items bought for the business d. Items having long life and not bought specifically for 26. resale 27. Which of the following does not appear in Statement of Financial Position? Cash b. Building c. Debtor
