Creado por ross young
hace casi 7 años
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Pregunta | Respuesta |
What side of the trial Balance is discount received? | credit side |
Purchase ledger control is a debit in the trial balance, true or false? | False |
Capital does not appear in the Statement of profit or loss. True or false | True |
Sales revenue in the Statement of profit or Loss is a debit. True or false | False |
In the extended trial balance where do drawings get posted to? Debit or Credit? | Debit in the Statement of Financial Position |
How is closing inventory posted in the extended trial balance? | Credit in Profit or Loss account Debit in Statement of Financial Position |
What sort of account is carriage in? | Expenses account |
An error is made by debiting a customer P Smith instead of P Smithy whom is the correct customer. Describe this error? | Error of commission |
An amount of £89 for payment of office expenses has been entered into the accounts as £98. Describe this error? | Error of original entry |
In the Extended Trial Balance, premises at cost are entered as a debit. True or false? | True |
In the Statement of financial Position, how is sales ledger control and purchase ledger control posted? | Debit SLCA Credit PLCA |
When drawing up a capital account, what side of the T account would you post drawings and profit to? | Drawings debit Profit credit |
How is a loss shown in the extended trial balance? | As a credit in PoL account Debit in Statement of Financial Position |
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