Use the following information to answer questions below
| $ | |
| Cash book balance (credit) | 750 |
| Uncredited cheques | 500 |
| Unprecedented cheques | 1680 |
| Direct credit | 300 |
| Bank charges | 150 |
Balance as per bank statement is
$580 Cr.
$430 Dr.
$430 Cr.
$1,480 Cr.
Correct answer is C
Balance as per bank statement = 300+ 1680 - 500
= 1480
Use the following information to answer questions below
| $ | |
| Cash book balance (credit) | 750 |
| Uncredited cheques | 500 |
| Unpresented cheques | 1680 |
| Direct credit | 300 |
| Bank charges | 150 |
The adjusted cash book balance is
$600 Cr
$300 Cr
$900 Cr
$1,200 Cr
Correct answer is B
Adjusted cash book balance
Dr side = 750
Cr side = 300 + 150
= 450
Bal c/d = 750 - 450
= 300 Cr since the debit side exceed the credit side
The sales ledger contains accounts of
Cash sales
Trade debtors
Credit sales
Trade creditors
Correct answer is B
The sales ledger control account is also called total debtors control account. It is the control account for sales or debtors ledger.
Revenue expenditure of a local government includes purchase of
X-ray machine
Incubators
Drugs
Theatre equipment
Correct answer is C
Revenue expenditure are expenses used for the day to day running of the activities of government. These expenses are charged to consolidated fund and they are not permanent in nature e.g salaries, repairs, purchases of drugs, maintenance of vehicles and stationery etc.
Use the information to answer questions below
| Years | Current Assets | Liabilities | Fixed Assets | Capital |
| # | # | # | # | |
| 2018 | 52550 | 78600 | 127450 | X |
| 2017 | 41650 | 53220 | Y | 116780 |
The letter Y represents
#170,000
#128,350
#94,870
#211,650
Correct answer is B
Y (Fixed Assets) = Capital + Liabilities - Current Assets
= 116,780 + 53,220 - 41,650
= 170,000 - 41,650
= 128,350