#17,000
#23,000
#26,000
#30,000
Correct answer is C
Expenses debited to the profit and loss account would be;
Expenses + carriage outwards
20,000 + 6000 = 26000
#100,000
#86,000
#82,000
#76,000
Correct answer is A
sales 232,000
Add: disc. received 18,000
opening stock 28,000
+ purchase 128,000
cost of gds. avail. for sale 156,000
Less:closing stock 10,000
Cost of gds sold 146,000
Add Carriage inwards 4000 150000
Gross profit 100,000
Sales account and credit bank account
Purchases and credit bank account
Cash and credit freehold
Bank and credit freehold
Correct answer is B
In the book of the buyer, we debit stock or purchase account and credit bank
#4,000
#7,000
#11,000
#24,000
Correct answer is A
35,000 - 15000 = 20000
20000/ 5= 4000
i, ii and iii
i, iii and iv
i, ii and iv
iii and iv
Correct answer is C
The basic characteristic of an imprest system is that a fixed amount is reserved, which after a certain period of time or when circumstances require, because money was spent, it will be replenished.