Question 1 of 8The accounting equation
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The accounting equation is stated as
Which is the correct accounting cycle?
Sole proprietorships are
An example of a personal account is
Which subsidiary book is used to record the purchase of office machinery on credit?
The subsidiary book which is part of the ledger is the
G. Moyo received an invoice of $1 600 from City Builders for repairs to the workshop. This transaction was first entered in the
The total of the sales returns journal is posted to the
A disadvantage of a computer in processing accounting data is that
The advantage of using computers in data processing is that they
Which set of items contains nominal accounts?
Which document increases the amount owing on an invoice?
The document sent by the seller to a buyer to request for payment at the end of the month is called a
The total in the sales journal is posted to the
What is the source of information for the entries in an updated cash book?
A document that shows the amount to be paid by a customer is a
Which of the following are source documents for a cash book?
Which of the following is a factory overhead cost?
S. Kamwendo's Trading and Profit and Loss Account for the year ended 31 December 2009 showed a gross profit of 42 600, other income of 90,…
In J. Sithole's departmental accounts for the year ended 31 December 2011, the combined gross profit from the Furniture and Electrical…
Chiedza Fashion Boutique's Income Statement for the year ended 31 December 2014 showed an adjusted gross profit plus other income of 499…
In S. Kamwendo's Statement of Financial Position as at 31 December 2009, the non-current assets were Equipment (net book value 43 740) and…
In J. Sithole's Statement of Financial Position as at 31 December 2011, non-current assets totalled 157 200 and current assets totalled 85…
In Chiedza Fashion Boutique's Statement of Financial Position as at 31 December 2014, non-current assets totalled 331 480 and current…
Wisdom Golf Club's Bar Creditors (Accounts Payable) Account for 2009 opened with a balance of 600, recorded a 800 payment to bar creditors…
Jongwe Limited sold a motor van on 31 December 2009 for 10 000 cash. The van's original cost was 20 000 and the accumulated depreciation on…
In S. Saka's sales ledger, T. Tasara's account was credited with $1 050 for 'Bad debts' on 28 December 2012, writing off the remaining…
Rugare Stores' updated Cash Book showed an overdraft of 2 200 on 31 January 2010. Uncredited cheques of 1 800 and unpresented cheques of $1…
In C. William's Stationery Account for 2011, an entry of 'Profit and Loss $3 100' appears on the credit side at 31 December. What does this…
In S. Saka's sales ledger, T. Tasara's account shows a 'Balance b/d' entry of $1 800 on 1 December 2012. What does this entry represent?
S. Samanyika Toy Products had opening raw material stock of 11 400, purchases of raw materials of 54 000, and closing raw material stock of…
Mwanza Manufacturing Company had opening raw material stock of 13 000, purchases of raw materials of 67 000, freight charged on raw…
Thokozani Sibanda's Furniture department had a turnover (sales less returns inwards) of 900 000 and cost of sales of 600 000 for the year…
S. Samanyika Toy Products' Manufacturing Account for the year ended 31 December 2009 arrived at a prime cost of 93 600, total factory…
Mwanza Manufacturing Company's Manufacturing Account for the year ended 31 December 2010 showed a prime cost of 78 000 and total factory…
N. Chuma's net profit for the year was 369 000 before five errors were corrected. After correcting all five errors -- including removing a…