Tuesday, July 14, 2015

228 Free Test Bank for Financial and Management Accounting An Introduction 4th Edition Pauline Weetman

Here are 228 Free Test Bank for Financial and Management Accounting An Introduction 4th Edition Pauline Weetman multiple choice questions for your practice exam preparation in order to help you improve effectively knowledge for passing your examination. Let’s enjoy test bank to discover the key topics and the concepts throughout practice process. Furthermore, it is 100% free for your online practice that you just need to take part in testing by answering the requirement’s each question and then check out full answers with a submit clicking. Now, enjoy free financial accounting test bank samples below to develop your critical thinking. With these… questions which are divided 5 small pages that you can practice following each page. Good luck!
Kindly go to the link below to get full questions and answers:
Identify whether the balance brought down, at the year end, in the named account would be on the debit side or credit side of that account. Shop fittings a/c
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The Cashier has recorded the following transaction in a Cash Book, entering the receipts on the debit side and the payments on the credit side. Identify which side of the named account would be posted by the Bookkeeper. Interest account : £2 000 paid as interest on Dave's Loan
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Identify whether the balance brought down, at the year end, in the named account would be on the debit side or credit side of that account. Bank Loan a/c
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A 'T' account is:
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If a business pays a cheque for stationery, the bookkeeping entries are:
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A sale of £7 800 to Peter Blowes has been posted to Paul Blowes. To correct this the journal entry should require which of the following:
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Before inserting a closing balance, accounts representing assets or expenses are likely to have:
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Which of the following statements is correct? A trial balance:
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M Biggs bought several lots of inventory (stock) throughout a period for the following amounts £1 100, £2 200, £3 300, £4 400. He made sales on credit throughout this period of £1 100, £2 200, £3 300, £4 400. He sells inventory (stock) at cost plus 25%. His closing inventory (stock) at the end of the period is valued at:
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If the net assets of a business totalled £540 000 and its liabilities totalled £316 800, its total assets on that date would amount to:
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Identify whether the balance brought down, at the year end, in the named account would be on the debit side or credit side of that account. Stationery account
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If a business commenced the day with £14 200, paid out £58 900 during the day and has £22 900 by the end of the day, it should have received during the day:
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If a trial balance, extracted from the double entry system of a sole trader, shows that total debits equals total credits then:
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Identify the account to which you would post the following transaction recorded in the Cash Account:£240 paid for advertising the availability of mobile phones for sale.
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Identify whether the balance brought down, at the year end, in the named account would be on the debit side or credit side of that account. Cash account
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The effect of a transaction was that it reduced both the assets and the liabilities of a business by £100 000. Which of the following is that transaction likely to be:
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Identify the year-end balance that would be brought down in the following account on 31 December 20x6, taking into account the stated transaction: Office Equipment account: The balance in the account on 1 December 20x6 was £218 400. In December four personal computers were bought for staff use, paying £4 500 for each unit.
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Identify the year-end balance that would be brought down in the following account on 31 December 20x6, taking into account the stated transaction: Ruth Jones' Loan account: A loan of £60 000 was obtained from Ruth on 1 January 20x5, on an agreement that it will be settled in six annual instalments of £10 000 each commencing from 31 December 20x5. The agreement is being complied with.
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Which of the following events will an accountant normally not record?
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A machinery acquired at a cost of £225 000, expected to be in use for five years, with no salvage value, is to be depreciated equally over its useful life. Annual depreciation then is:
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Identify whether the account stated below would represent an Asset, Liability, Income or Expenditure: Buildings account
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Jayantha commenced business on 1 January 20x6 with a capital in cash of £10 000. During the year ending on 31 December 20x6 he paid £12 000 for furniture, £92 400 for purchasing goods for sale and £31 450 for various expenses. He received £139 250 by sale of goods. Identify Jayantha’s capital as at 31 December 2001 in the following situation: Jayantha had sold out all goods purchased during the year and wishes to write off a tenth of the cost of furniture as depreciation.
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Every entry in a ledger should have:
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Identify whether the posting of the transaction to the account named would increase or reduce the balance in that account: Receipt of a Loan from Kingsley Perera. (Perera's Loan account)
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For the purpose of establishing the accuracy of the individual personal ledger balances, a business maintains, on a memorandum basis, a Sales Ledger Control account (S.L.Cont) and a Purchases Ledger Control account (P.L.Cont). Identify the account and its side in which you will enter the dishonouring ('bouncing') of a cheque received from a customer S.L.Cont. P.L.Cont. Neither; Dr Cr Dr Cr a b c d e
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Identify whether the account stated below would represent an Asset, Liability, Income or Expenditure: Bank Loan a/c
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Having placed in a Suspense account the difference in the trial balance, it is found that the difference arose because a pre-paid rent of £12 000 has been brought down as a credit balance in the Rent account. To correct this error which of the following entries should the journal require:
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The total of credit sales found within a sales ledger control account comes from:
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Identify the account to which you would post the following transaction recorded in the Cash Account: £4 000 paid to Ricky Nelson, the landlord, as rent for the premises used for business purposes.
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Identify whether the posting of the transaction to the account named would increase or reduce the balance in that account: Payments to buy goods for sale. (Purchases account)
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A business registered for Value Added Tax has to maintain a VAT account, crediting it with the "output tax" and debiting it with the "input tax" calculated at 17.5 / 117.5 of the transaction value. In respect of the transaction listed below, identify whether you would account for the VAT element by debiting or crediting the VAT account or do neither: Cash sales
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When preparing a bank reconciliation statement, the balance as shown in the bank statement is reconciled with:
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For the purpose of establishing the accuracy of the individual personal ledger balances, a business maintains, on a memorandum basis, a Sales Ledger Control account (S.L.Cont) and a Purchases Ledger Control account (P.L.Cont). Identify the account and its side in which you will enter Return outwards during the month: S.L.Cont. P.L.Cont. Neither; Dr Cr Dr Cr a b c d e
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