The double entry for refund of unsuccessful application monies is debit
Application for shares account, credit bank account
Bank account, credit application for shares account
Allotment account, credit bank account
Cash account, credit bank accountÂ
Correct answer is A
No explanation has been provided for this answer.
The term bad debt is used to describe
A debt that cannot be recovered
A debt that is long over due
An overcharge on a debtor's account
A debt owned by a former employee
Correct answer is A
No explanation has been provided for this answer.
An amount set out of profit for other uses
An amount of loss from trading activities
An expense of buisiness to be paid for in cash
A loss in value of all business assets
Correct answer is A
No explanation has been provided for this answer.
Carriage inward expenses of a business is treated in
Trading account
Balance sheet
Appropriation account
Profit and loss account
Correct answer is A
No explanation has been provided for this answer.
Which of the following belongs to the normal ledger?
Salaries account
Fixtures account
Stock account
Debtors account
Correct answer is A
No explanation has been provided for this answer.