Section 4. Accounting procedures for Accounting, O Level - revisedeck

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4. Accounting procedures

A section of Accounting, 7707

Listing 10 of 188 questions

Motor vehicle expenses, $50, were incorrectly debited to the motor vehicles account. Which journal entry corrects this error?

7707_w20_qp_12

MCQ

2020

Paper 1, Variant 2

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George is preparing his purchases ledger control account. Which information would he obtain from his general journal?

7707_w20_qp_12

MCQ

2020

Paper 1, Variant 2

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Kim’s trade payables turnover increased. What could have caused this?

7707_w20_qp_13

MCQ

2020

Paper 1, Variant 3

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Jane purchased goods and paid by credit transfer. How should this be recorded in Jane’s accounting records?

7707_w21_qp_13

MCQ

2021

Paper 1, Variant 3

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What could a credit balance on a ledger account represent?

7707_w23_qp_13

MCQ

2023

Paper 1, Variant 3

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Abdul is a trader. He rents out part of his warehouse to other businesses. Abdul is preparing his financial statements for the year ended 31 December. His rental income account shows that: rent received during the year totalled $2750 rental income transferred to the income statement was $3000 What does the closing balance on the rental income account represent?

7707_w24_qp_12

MCQ

2024

Paper 1, Variant 2

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A sales ledger control account included the following items. discount allowed dishonoured cheques interest on overdue accounts irrecoverable debts For which of these items was the information obtained from the general journal?

7707_w22_qp_13

MCQ

2022

Paper 1, Variant 3

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Thembi is preparing her sales ledger control account. She needs to know: The total for goods which have been returned by credit customers. The amount owed by credit customers which have been written off as irrecoverable. Where can she obtain this information?

7707_s20_qp_12

MCQ

2020

Paper 1, Variant 2

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A trader wrote off the balance on a credit customer’s account as irrecoverable. Which accounting principle was applied?

7707_s20_qp_12

MCQ

2020

Paper 1, Variant 2

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Which statement about a debts recovered account is correct?

7707_s22_qp_11

MCQ

2022

Paper 1, Variant 1

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Questions Discovered

188