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    Double Entry Bookkeeping - Part A

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    Dhairya Ailani
    This document provides a sample bookkeeping test with questions on: 1) Examples of current assets and current liabilities 2) Where accrued expenses are shown on a statement of financial position 3) Identifying assets and liabilities in a table 4) The accounts credited and debited for a sale on credit 5) The accounts debited and credited for withdrawing cash from a business bank account for personal use.

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    Double Entry Bookkeeping - Part A

    Uploaded by

    Dhairya Ailani
    18 views1 page
    This document provides a sample bookkeeping test with questions on: 1) Examples of current assets and current liabilities 2) Where accrued expenses are shown on a statement of financial position 3) Identifying assets and liabilities in a table 4) The accounts credited and debited for a sale on credit 5) The accounts debited and credited for withdrawing cash from a business bank account for personal use.

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    2. Double Entry Bookkeeping - Part A

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    This document provides a sample bookkeeping test with questions on: 1) Examples of current assets and current liabilities 2) Where accrued expenses are shown on a statement of financial position 3) Identifying assets and liabilities in a table 4) The accounts credited and debited for a sale on credit 5) The accounts debited and credited for withdrawing cash from a business bank account for personal use.

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    18 views1 page

    Double Entry Bookkeeping - Part A

    Uploaded by

    Dhairya Ailani
    This document provides a sample bookkeeping test with questions on: 1) Examples of current assets and current liabilities 2) Where accrued expenses are shown on a statement of financial position 3) Identifying assets and liabilities in a table 4) The accounts credited and debited for a sale on credit 5) The accounts debited and credited for withdrawing cash from a business bank account for personal use.

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    of 1

    Podar International School

    2. Double Entry Bookkeeping - Part A

    1. Give an example of:

    (i) a current asset ……………………………………………………………

    (ii) a current liability……………………………………………………..... [2]

    2. In which section of the statement of financial position sheet will accrued


    expenses be shown? [1]

    ………………………………………………………………………………

    3. In the table below, place a tick (√) under the correct heading to show whether
    each item is an asset or a liability. [3]

    Asset Liability
    i Motor
    ii Accrued expenses payable
    iii Trade receivables
    4. Annie makes a sale on credit to Bill. State the names of the accounts in
    Annie’s ledger which will be: [2]
    (i) credited …………………………………………………………………...
    (ii) debited …………………………………………………………………….
    5. Amy is a trader. She withdrew cash from the business bank account for personal
    use. How will this transaction be recorded? [1]
    account to be debited account to be credited
    A bank cash
    B cash bank
    C bank Drawings
    D drawings bank

    Parvez Noor – Double Entry Bookkeeping - Part A Page 1

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