STD: FYJC HR TEST Subject: Accounts

Topic- Cashbook, Petty Cashbook and Trial Balance. Marks: 150

(1) Capital account has ________ balance in the trial balance.

(a) Credit (b) Debit (c) Won't be recorded

(2) Rent received will have _________balance.

(a) Debit (b) Credit (c) Won’t be recorded

(3) Salaries paid will have ______ balance.

(a) Debit (b) Credit (c) Won’t be recorded

(4) Rent paid will have ________ balance.

(a) Debit (b) Credit (c) Won’t be recorded

(5) Drawings will be recorded in the trial balance.

(a) Debit (b) Credit (c) Won’t be recorded

(6) Closing stock will be recorded on the _________ side of the trial balance.

(a) Debit (b) Credit (c) Won’t be recorded

(7) Trial balance checks the _________ accuracy.

(a) Mechanical (b) Arithmetic (c) Technical

(8) Petty cash book records large amount of cash transaction.

(a) True (b) False

(9) Opening stock will have ________ balance.

(a) Credit (b) Debit (c) Won't be recorded

(10) Which of the following statements is true about the balance in the petty cash account?

(a) It is a liability (b) It is an asset (c) It is an expense (d) None of the above.

(11) What is the primary purpose of a cashbook?

(a) It records receipts and payments of cash (b) It records payments of cash

(c) It records receipts of cash (d) It helps to compute the profit and loss of a business

(12) Which of the following is not a part of ‘cash and cash equivalents’ in a cashbook?

(a) Special investments (b) Cheques (c) Money orders (d) Coins
(13) A cashbook serves the following purpose:

(a) It works as a ledger account (b) It works as a book of original entry as well as a ledger account

(c) It works as a book of original entry (d) None of the above

(14) Which of the following statements about cash is correct?

(a) The business activities involve regular cash transactions

(b) Cash is a current asset that can meet the immediate obligations of a business

(c) Cash is universally accepted as a mode of payment

(d) All of the above

15. Which of the following cashbooks is similar to a cash account?

(a) Double column cashbook (b) Triple column cashbook

(c) Petty cashbook (d) Single column cashbook

16. The credit side of a cashbook is ________:

(a) The loss side (b) The receipt side (c) The profit side (d) The payment side

17. Once you add a bank column to both sides of a single cashbook, it becomes a _______:

(a) Petty cashbook (b) Double column cashbook (c)Triple column cashbook (d) None of the above

18. In a three column cashbook, the ______ column is not balanced:

(a) Discount column (b) Cash column (c) Bank column (d) None of the above

19. In a cashbook, a contra entry involves __________:

(a) A cash account and a bank account (b) A cash account and a sales account

(c) A cash account and a discount account (d) A bank account and a discount account

21. In a cashbook, a contra entry is recorded on the __________:

(a) Debit and credit side of a cashbook (b) Debit side of a cashbook

(c) Credit side of a cashbook (d) Not recorded in the cashbook

22. The transaction that does not affect a cashbook is ___________:

(a) Cheque received from Mr B and deposited in the bank

(b) Depreciation expense recorded for the year

(c) Mobile charges paid from the online company’s bank account

(d) Cash paid to creditors for goods purchased from them

23. Which one of the following transactions will be recorded in the cashbook as a contra entry?

(a) Cash is withdrawn from the bank for office use (b) Cash is deposited in a company’s bank account

(c) A cheque that was received earlier is deposited into the company’s bank account

(d) All of the above

24. A cashbook that records minor expenses of a business on a day-to-day basis is a ________:

(a) Petty cashbook (b) General cashbook (c)Extra cashbook (d) Additional cashbook

25. The person who is responsible for recording transactions in a petty cash book is a ____________:

(a) Counter cashier (b) General cashier (c) Additional cashier (d) Petty cashier

26. Another name for the debit side of a cashbook is ________:

(a) Receipts side (b) Income side (c) Expense side (d) Payment side

27. Which of the following details is not posted in a ledger?

(a) Total of the discount column on the credit side (b) Total of the discount column on the debit side

(c) Opening and closing balances of the cashbook (d) All of the above

28. A company issues a cheque for paying a creditor. What is the effect of that transaction?

(a) increase in assets, decrease in liabilities (b) Decrease in assets, decrease in liabilities

(c) Increase in assets and stockholder’s equity (d) Increase in assets, increase in liabilities

29. A cheque is received from a creditor and paid into the bank on the same day. How will this transaction be
recorded in the cashbook?

(a)It will be recorded in the cash column of the cashbook

(b) It will be recorded both in the cash and bank column of the cashbook

(c) It will be recorded in the bank column of the cashbook

(d) None of the above

30. Which of the following statements about a cashbook is not true?

(a) It is a journalised ledger (b) It is a double purpose book (c) It is a dual book (d) It records liabilities

31. How do we record the overdrawn balance of a cashbook?

(a) It is credited if the balance is mentioned as an overdrawn balance

(b) If debit or credit balance is not mentioned, then it will be an overdrawn balance

(c) If an overdraft balance is mentioned, then it will be debited on the debit side of the cashbook

(d) None of the above

32. Which of the following transactions will not be included in the cashbook?

(a) Cash receipt from Anil for Rs. 40000 (b) Purchases worth Rs. 30000

(c) Credit sales worth Rs. 20000 (d) Cash sales worth Rs. 40000

33. The amount mentioned in the discount column on the debit side of a cashbook represents:

(a) Trade discount allowed or discount expense (b) Cash discount allowed or discount expense

(c) Trade discount received or discount income (d) Cash discount received or discount income

34. The total of the discount column on the debit side of a cashbook is posted to the:
(a) Debit side of the discount allowed account in the ledger

(b) Credit side of the discount allowed account in the ledger

(c) Debit side of the discount received account in the ledger

(d) Credit side of the discount received account in the ledger

35. A firm that properly maintains its cashbook does not need to maintain:

(a) Cash payment journal (b) Cash account in the ledger (c) Cash receipt journal (d) All of the above

36. Trial balance is used to check the accuracy of

(a) Balance sheet balances (b) Ledger accounts balances

(c) Cash flow statement balances (d) Income statement balances

37. In the books of account if a transaction is completely deleted, will it affect the trial balance?

(a) No (b) Yes (c) A transaction cannot be omitted

38. What is used in preparing trial balance?

(a) Specialised Journals (b) Balance Sheet (c) Ledger Accounts (d) General Journal

39. What is the trial balance used for?

(a) It is a financial statement (b) It records balances of a balance sheet

(c) It doesn’t contribute to the accounting cycle (d) It records balances of accounts

40. When debit balance is equal to credit balance then the trial balance means

(a) Account balances are correct (b) Mathematically Capital+Liabilities=Assets

(c) No mistake in recording transactions (d) No mistake in posting entries to ledger account

41. When is trial balance prepared?

(a) At the end of an accounting period (b) At the end of a year

(c) Frequently during the year (d) At the end of a month

42. Which items influence the trial balance agreement?

(a) Deposit in transit (b) Compensating errors

(c) Complete omission of a transaction (d) Partial omission of a transaction

43. When credit balances = debit balances, the trial balance check and shows ____________ . It also indicates
that there were no errors made during posting and recording and posting.

(a) Understatements of Balances (b) Errors of Commission

(c) Arithmetic Accuracy (d) Omissions of Economic Events

44. Which of the following account with normal balance is shown at the debit side of a trial balance?

(a) Creditors account (b) Unearned income account (c) Rent income account (d) Cash account

45. In trial balance, which accounts with normal balance is recorded at the credit side?

(a) Bank account (b) Equipment account (C) Cash account (d) Accrued expenses.

46. Name the account type with a normal balance of credit.

(a) Revenue (b) Asset (c) Drawing (d) Expense

47. A trial balance shows up on both the equal sides of the credit and debit column:

(a) This means that though the arithmetic is correct, there are still chances of some errors in the sheet

(b) This means that there would be only a single error in the sheet

(c) This means that there would be more than one error in the sheet

(d) This means that there is no error in the sheet

48. What is the need for companies to make a trial balance?

(a) To calculate the status of the financial orders (b) To tally the balance of cash and the bank

(c) For calculating profit and loss (d) For checking the accuracy of ledgers arithmetically

47. Which of the following is used for checking the arithmetical accuracy of the account books?

(a) Ledger (b) Trial balance (c) Journal (d) All of these

48. What is a trial balance?

(a) Personal account (b) Nominal account (c) Real account (d) None of these

49. Should the total of the trial balance always be equal?

(a) Yes, except when the trial balance total is tallied at the end of the year

(b) No, because it depends on the interests of the company

(c) Yes, always

(d) No, because it differs from a balance sheet

50. In which of the following accounts there is a debit balance?

(a) Purchase returns (b) Purchase (c) Discounts (d) Owner equity

51. In which of the following accounts there is a credit balance?

(a) Wages outstanding (b) Return inwards (c) Motor vehicles (d) Prepaid rent

52. What could be the possible description of a trial balance among the following?

(a) Shows the total/balance of books (b) Shows the entries in the sheet

(c) It is a special system (d) Showcases the financial position of a company

53. The number of trial balances is:

(a) 4 (b) 2 (c) 1 (d) 3

54. Before the final accounting, what is the necessity to make a trial balance?

(a) It helps the accountant to make any amendments if required

(b) It gives the adequate accounting to make the final account

(c) It is used for checking the arithmetical accuracy of ledger accounts

(d) It is used to show that both debit and credit columns are equal in value

55. The wages to be paid to the workers for installing new machine equipment would be debited to:

(a) Fixed Over Head Account (b) Machinery account (c) Wages account (d) Factory expenses account

56. Which of the following options do not count as operating revenue?

(a) Goods which are sold for cash (b) Income from fixed asset sales

(c) Sales on credit (d) Fee from the sale of services

57. The difference in balances of debit and credit checked by preparing:

(a) Balance sheet (b) Income statement (c) Trial balance (d) General journal

58. With preparing trial balance, it helps to deduct:

(a) The error of complete omission (b) Compensating error (c) Error of principle (d) Clerical error

59. In which of the given accounts the normal balance is considered as debit?

(a) Prepaid rent (b) Rent revenue (c) Payable rent (d) Unearned rent revenue

60. The suspense accounts which come under trial balance is marked in:

(a) Balance sheet (b) Trading account (c) Income statement (d) Profit and loss statement

61. What is a trial balance?

(a) To prove error-free journal/ledger (b) A formal financial statement

(c) Providing the balance of each account used actively (d) Provide the listing of every account
62. In which of the following options it is counted as a debit balance?

(a) Bank loan (b) Cash (c) Payable account (d) Owner equity

63. Which of the methods is used to create a trial balance?

(a) Compound method (b) Total method (c) Balance method (d) All of the above

64. What kind of entry happens in a Cashbook?

(a) Special entry (b) Original entry (c) Secondary entry (d) All of the above

65. What is an entry made on both sides of a cashbook called?

(a) Contra entry (b) Compound entry (c) General entry (d) Double entry

66. On which side of the cashbook will you find the introduction of capital by the owner?

(a) Expenditure (b) Payments (c) Receipts (d) Income

67. What does the balance on the debit side of the cashbook indicate?

(a) Credit balance as per the bank statement (b) The total amount is withdrawn from the bank

(c) Total amount deposited in the bank (d) None of the above

68. What does the balance in the cash column indicate?

(a) Credit (b) Debit (c) Both of the above (d) None of the above

69. How many kinds of cashbooks are there?

(a) 4 (b) 5 (c) 2 (d) 3

70. If a company issues a cheque to pay the accounts payable, what will it be for?

(a) To increase the asset for the stakeholders (b) To increase the assets of the company

(c) To decrease the assets and liabilities (d) To increase the liabilities for the stakeholders

71. In which case will a transaction be treated as a contra entry?

(a) When the cash is received and deposited from the customer (c) Both of the above

(b) When the cash is withdrawn from the bank for office uses (d) None of the above

72. What is a petty cashbook used for recording?

(a) Payment of petty cash expenses (b) Petty cash receipts (c) All cash payments (d) All of the above

73. What is a cashbook used for recording?

(a) All credit and cash sales (b) All the transactions that happen (c) All receipts and payments in cash (d) All
74. On which side of the cashbook will you record the office’s goods purchased in cash?

(a) Expenditure (b) Receipts (c) Payments (d) Incomes

75. In case of a cashbook contra entry which of these will not be considered a contra entry?

(a) Cash is withdrawn from the bank for personal use (b) Cash deposited to bank

(c) Cash is withdrawn from the bank (d) All of the above

76. On which side of the cashbook is the cash received recorded?

(a) Debit side of the customer’s account (b) Credit side of the customer’s account

(c) Debit side of the sales account (d) Credit side of the sales account

77. In which account is the regular total of Sales Return Journal posted?

(a) Goods account (b) Sales Return account (c) Sales account (d) Any of these

78. Which of these is not recorded in the cashbook?

(a) Bad debts (b) Credit purchases (c) Trade discount (d) All of the above

79.What does the credit in a bank account reflect in a cashbook?

(a) Cash deposited in the bank (b) Cash is withdrawn from the bank (c) Overdraft (d) None of the above

80. If a business is already maintaining a cashbook, what does it not have to maintain?

(a)Sales Book (b) Journal Proper (c) Cash and bank accounts in the ledger (d) Purchase book

81. What do you consider a postdated cheque as?

(a) Cash reverse (b) Accounts receivable (c) Bank balance (d) Cash

82. When is a petty cash fund supposed to be replenished?

(a) Every three months (b) Every half-year (c) Every year (d) At the end of every accounting period

83. What does a favourable balance of cashbook mean?

(a) Adjusted cashbook balance (b) Credit balance in the cashbook (c) Debit balance in the cashbook (d) Overdraft

84. Out of these, which one does not apply in the case of a cashbook?

(a) It is used for recording liabilities (b) It is used as a journalized ledger

(c) It is used as a double purpose book (d) All of the above

85. Where do you record the balance that is overdrawn in a cashbook?

(a) Debit side of the cashbook (b) Credit side of the cashbook (c) Shown separately (d) None of the above

86. If you pay and receive a cheque from the bank on the same day, where would you record it?

(a) Cash column (b) Bank column (c) Both of these (d) None of these

87. A Bank Reconciliation Statement is sent with

(a) Cash payment journal (b) Cash receipt journal (c) Financial statements (d) Cashbook

88. What is the other term used for unpresented cheques?

(a) Bounced cheques (b) Uncollected cheques (c) Uncredited cheques (d) Outstanding cheques

89. Where do you enter a cash discount received?

(a) Purchase (b) Sales (c) Payments (d) None of the above

90. What do you consider postage stamps on hand as?

(a) Accounts receivable (b) Prepaid expenses (c) Both of the above (d) None of the above

91. Which is the main column in a simple cashbook with just a single column?

(a) Cash (b) Bank (c) Discount (d) Payments

91. What do you call a cashbook with both a cash column and a discount column?

(a) Petty cashbook (b) Simple cashbook (c) Two-column cashbook (d) None of the above

92. If you have a credit balance in a cashbook, what does it indicate?

(a) Bank under draft (b) Bank overdraft (c) Bank balance (d) Cash at bank

93. Who is responsible for preparing the cashbook?

(a) Banks cashier (b) Company’s manager (c) Company’s accountant (d) Bank

94. When do you allow a cash discount?

(a) When a lump sum amount of money is paid (b) When there is prompt repayment of debt

(c) Both of the above (d) None of the above

95. On which side of the cashbook do you record the rent expenses?

(a) Income (b) Expenditure (c) Receipts (d) Payments

96. Out of the following, which one will you not record in a cashbook?

(a) Trade discount (b) Bad debts (c) Freight charges (d) Prepaid insurance
97. What do you call a cheque already issued by a company and is yet to be presented to the bank?

(a) Uncredited Cheque (b) Uncollected Cheque (c) Bounced cheque (d) Outstanding cheque

98. What do you call a cashbook that a business uses to record small payments?

(a) Petty cashbook (b) Simple cashbook (c) Single column cashbook (d) All of the above

99. Do you record the interest and the bank charges in a cashbook column?

(a) Bank column (b) Cash column (c) Discount column (d) None of the above

100. Out of these, which is the other account related to the cash account?

(a) Personal account (b) Nominal account (c) Real account (d) None of the above

101. In which kind of cashbook do you record a contra entry?

(a) Single column cashbook (b) Double column cashbook (c) Three column cashbook (d) Both b & c .

102. On 1st April 2016, balance of cash column of cash book was Rs. 10,000. After receiving Rs. 2,000 from Anil,
giving a cheque of Rs. 3,200 to Sunil and making payment of wages Rs.500, balance of cash will be:

(a) Rs. 11,500 (b) Rs. 8,800 (c) Rs. 8,300 (d) Rs. 6,300

103. On 1st May 2016, cash book bank overdraft balance was Rs. 2,000. On depositing Rs. 10,000 into bank and
giving a cheque of Rs. 7,200 for rent, the balance will be:

(a) Rs. 4,800 Dr. (b) Rs.800 Dr. (c) Rs. 4,800 Cr. (d) Rs.800 Cr..

104. Net income is equal to

(a) Revenue + expenses (b) Sales – purchases (c) Assets – Liabilities (d) Revenue – expenses

105. Trial balance contains capital Rs 50000, interest on capital @ 5%p.a at the year end.

(a) Rs. 2500 (b) Rs.1800 (c) Rs. 1875 (d) Rs. 2000

106. Outstanding income given adjustment Rs 250. Income in trial balance Rs 2500, what amount will be recorded
in profit and loss account

(a) 2250 (b) 2750 (c) 2500 (d) 2000

107. Sold goods of Rs 24000 at 20% profit on cost, the purchase price of the goods is?

(a) 18000 (b) 20000 (c) 22000 (d) 16000

108. Intra-state sale to Rakesh Rs. 3,000 and SGST @2.5% and CGST @2.5% applicable. The amount of gst to be
charged is

(a)175 (b) 200 (c) 150 (d) 300

109. Paid to Rakesh Rs. 40,000 @ 2% Cash Discount. The amount to be recorded is

(a) 38200 (b) 39000 (c) 39800 (d) 39200

110. Calculate the purchases return is the cash purchase is Rs. 35000, credit purchases are Rs 55000 and net
purchases are Rs 88000

(a) 10000 (b) 1700 (c) 2000 (d) 1200

111. Opening petty cash balance Rs. 250, petty cash received Rs 1750 and closing petty cash balance is Rs 420.
What are the petty expenses paid?

(a) 1440 (b) 3456 (c) 1580 (d) 1280

112. Cash receipts being Rs 60000, Cash payments being Rs 45000 and total cash being Rs 23000. What is the
opening cash balance?

(a) 7000 (b) 5000 (c) 8000 (d) 9000

113. Cash sales Rs 120000, Credit sales Rs 140000, Total sales Rs 260000. Debtors will be?

(a) 17000 (b) 8000 (c) 4000 (d) 0000

114. What are cash sales if Credit sales are Rs 60000, Sales return Rs 3000 and total sales Rs 102000.

(a) 47000 (b) 45000 (c) 48000 (d) 49000

115. Opening petty Cash Rs 400, Petty expenses paid Rs 1800 And closing petty cash balance Rs 250. how much
petty cash is received?

(a) 1450 (b) 1575 (c) 1625 (d) 1650

116. Cash purchases Rs. 1,60,000 at 10% T.D. and 5% C.D. What is the amount of Net purchases?

(a) 136000 (b) 136800 (c) 140000 (d) 141000

117. Cash purchases Rs 70000, Trade discount Rs 18000 and net purchases Rs 162000. What credit purchases

(a) 115000 (b) 117000 (c) 110000 (d) 108000

118. Purchased goods from Harish Rs. 12,000 @ 7% T.D. What is the amount of Trade discount?

(a) 832 (b) 840 (c) 830 (d) 820

119. Cash sales Rs. 90000, Credit sales Rs 110000 and trade discount Rs 16000. What is total sales?

(a) 184000 (b) 181000 (c) 182000 (d) 183000

120. Sold 50 shirts at Rs.300 per shirt and 40 Trousers at Rs. 600 each, What is the amount of sales?

(a) 38000 (b) 24000 (c) 15000 (d) 39000

121. Sold 30 Jackets at Rs.500 per Jacket at 8% Trade discount, What is the amount of Trade discount

(a) 40 (b) 1200 (c) 1100 (d) 1000

122. Cash purchases are Rs 80000, total purchases Rs 190000 and total creditors are Rs 110000. What are credit
Purchases?

(a) 210000 (b) 215000 (c) 220000 (d) 206000

123. Petty cash received Rs 1800, Petty expenses paid Rs 2250 and Closing petty cash balance is Rs150. Wat is
opening petty cash balance?
(a) 450 (b) 600 (c) 550 (d) 535

124. Veena sold goods of Rs.16,000 at 5% Trade Discount. the gross amount of goods sold is?

(a) 800 (b) 15200 (c) 1600 (d) 14400

125. Purchased goods from Sadhana Stores Rs. 12,000 and sold the same to Aradhana Stores at a profit of 20% on
cost. What is the selling price?

(a) 14400 (b) 2400 (c) 15400 (d) 3400.

126. The amount with the petty cashier is RS 8000, He spent Rs7500, and he received Rs 200. What will be the
imprest amount received in the next month.

(a) 7400 (b) 3200 (c) 7300 (d) 5400

127. The amount with the petty cashier is RS 8000, He spent Rs7500, and he received Rs 200. What will be the
closing cash on hand?

(a) 400 (b) 300 (c) 350 (d) 700

128. The amount with the petty cashier is Rs 350, He received Rs 850 from the head cashier, he spent Rs 600. what
is the imprest amount at the beginning of this month?

(a) 1200 (b) 1500 (c) 1800 (d) 2000

129. Goods sold of Rs 50000 at 10% T.D and 4% C.D to Rakesh, he paid half the amount in cash and half in cheque.
What will be the amount of discount allowed?

(a) 1500 (b) 1700 (c) 1800 (d) 2000

130. Goods sold of Rs 50000 at 10% T.D and 4% C.D to Rakesh, he paid half the amount in cash and half in cheque.
What will be the amount of cash column?

(a) 15000 (b) 21600 (c) 21800 (d) 28000

131. Goods sold of Rs 50000 at 10% T.D and 4% C.D to Rakesh, he paid half the amount in cash and half in cheque.
What will be the amount of bank column?

(a) 15000 (b) 21600 (c) 21800 (d) 28000

132. Goods sold of Rs 50000 at 10% T.D and 4% C.D to Rakesh, he paid half the amount in cash and half in cheque.
What will be the amount of payment received?

(a) 30000 (b) 21600 (c) 43200 (d) 21500

133. Wages paid for installation of machinery Rs 21 will be recorded in petty cashbook in which column?

(a) wages (b) ledger (c) repair (d) installation

134. Gada electronics purchased 10 pencils of Rs 120 per dozen, 6 erasers for Rs 15 each and 2 dozen pens of Rs 5
each. What is the value of printing and stationary

(a) 310 (b) 190 (c) 420 (d) 330

135. If the closing balance appears on the credit side of a ledger account it is known as _______ balance

(a) debit balance (b) credit balance

136. If the closing balance appears on the debit side of a ledger account it is known as _______ balance

(a) debit balance (b) credit balance

Q. In the Subsidiary Books of Navyug Traders :

Mar 2018

01 Sold to Bharat Patil goods ` 10,000 at 10% Trade discount.

04 Purchased from Naresh goods of ` 11,000 less 10% Trade discount.

06 Purchased Furniture from M/s. Sham Furniture Works, of ` 15,000 for office use.

07 Bharat Patil returned 20% of the goods bought by him on 1st March above and we gave him fresh goods in
exchange.

08 Sold to Sundar goods of ` 13,000 less 15% Trade Discount.

10 Sold to Sumit Computer for ` 23,800 with a book value of ` 24,000.

12 Placed an order with Sajan for goods of ` 12,000.

17 Purchased from Naresh goods of ` 14,000 and sold them to Kamesh for ` 16,000.

19 Kamesh returned us goods of ` 1,600 and immediately returned the same to Naresh.

23 Sold to Rakesh for ` 4,500 old Furniture with a book value of ` 4,800.

26 Returned to M/s. Sham Furniture Works, office Furniture of ` 4,500.

28 Sajan executed our order dated 12th March, 2018.

137. The sale of computer to sumit will be recorded in which book?

(a) Sales book (b) Purchase book (c) Discount allowed book (d) All of the above

138. Goods purchased from Naresh on 04 March will be recorded on what price?

(a) 10000 (b) 11000 (c) 10100 (d) 10200

139. On 23rd march the Furniture sold books __________.

(a) Profit (b) Loss (c) No profit No loss

140. The total balance of sales books comes to

(a) 35000 (b)35050 (c) 36000 (d) 36050

141. The total balance of Purchase books comes to

(a) 40000 (b) 35900 (c) 37800 (d) 39700

142. The total balance of sales return books comes to

(a) 1200 (b) 1400 (c) 1500 (d) 1600

143. The total balance of Purchase return books comes to

(a) 1200 (b) 1400 (c) 1500 (d) 1600

Date Particulars Amt

01 Started business with cash 120000
03 Cash paid into Bank of Baroda 50000
05 Purchased goods from Sakshi on credit 20000
06 Sold goods to Divakar and received a bearer cheque 20000
10 Paid to Sakshi cash 20000
14 Cheque received on December 06, 2018 deposited into Bank
18 Sold goods to Shivaji on credit 12000
20 Cartage paid in cash 500
22 Received cash from Shivaji 12000
27 Commission received 5000
30 Drew cash for personal use 2000

144. For the sale of goods to Shivaji the transaction will be recorded on which side of cashbook?

(a) Debit (b) Credit (c) Wont be recorded

145. Cash paid into Bank of Baroda is what type of entry

(a) Debit entry (b) credit entry (c) Contra entry

146. At the year end who is Sakshi to the firm?

(a) Debtor (b) Creditor (c) None of the above

147. Commission received is a type of _________

(a) Income (b) Expense (c) none of the above

148. Drawings is recorded on which side of cashbook?

(a) Debit (b) Credit (c) Wont be recorded

149. the closing balance of bank column is _________

(a) 66000 (b) 30000 (c) 64500 (d) 65000

150. The closing balance of bank column is __________

(a) 76000 (b) 64000 (c) 64000 (d) 70000