A business commences business in June. Its sales account from the general ledger at the end of June is as follows. What will be the brought-down balance at the start of July? A: CR $1,050 B: DR $1,050 C: DR $950 D: CR $950

2022-06-07

A business commences business in June. Its sales account from the general ledger at the end of June is as follows. What will be the brought-down balance at the start of July? A: CR $1,050 B: DR $1,050 C: DR $950 D: CR $950

A business commences business in June. Its sales account from the general ledger at the end of June is as follows. What will be the brought-down balance at the start of July?
A: CR $1,050
B: DR $1,050
C: DR $950
D: CR $950

答案：

D

举一反三

If a business proprietor pays their personal income into the business bank account, what is the accounting double entry to record the transaction? A: Dr Drawings Cr Cash B: Dr Cash Cr Sales C: Dr Cash Cr Drawings D: Dr Expense Cr Cash
Ignoring sales tax, which of the following are the correct entries to post the total of the discounts received column in the cash book to the general ledger? A: DR discounts received, CR Purchases B: DR Payables control account, CR Discounts received C: DR Purchases, CR Discounts received D: DR Discounts received, CR Payable control account
A business discovers that a customer has become bankrupt. The customer owes the business $2,360. If sales tax is 20%, what accounting entries are necessary? A: DR Irrecoverable debts: $2,360, CR Receivables: $2,360 B: DR Irrecoverable debts: $1,888, DR Sales tax: $472, CR Receivables: $2,360 C: DR Irrecoverable debts: $2,360, CR Sales tax: $393.33, CR Receivables: $1,966.67 D: DR Irrecoverable debts: $1,966.67, DR Sales tax: $393.33, CR Receivables: $2,360
The sales day book total has been undercast by $3,500. What adjustment needs to be made to reconcile the receivables control account to the receivables ledger? A: DR $3,500 to the receivables ledger B: CR $3,500 to the receivables control account C: CR $3,500 to the receivables ledger D: DR $3,500 to the receivables control account
Alana is not registered for sales tax purpose. She has recently received an invoice for goods for resale which cost $500 before sales tax, which is levied at 15%. The total value was therefore $575. What is the correct entry to be made in Alana's general ledger in respect of the invoice? A: Dr Purchases $500, Dr Sales tax $75, Cr Payables $575 B: Dr Purchases $575, Cr Sales tax $75, Cr Payables $500 C: Dr Purchases $500, Cr Payables $500 D: Dr Purchases $575, Cr Payables $575

内容

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1
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