IGCSE Accounting Paper-1: Specimen Questions with Answers 35 - 36 of 214
Question number: 35
Question
Hyundai Motors sold a delivery car on credit to M. Jacob.
Which entries will be made in the books of Hyundai Motors?
Choices
| Choice (4) | Response | |||||
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| a. |
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| b. |
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| c. |
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| d. |
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Answer
a.Explanation
When goods are sold on credit then the customer name should be debited and sales account should be credited. In cash sales, the cash will be debited and sales will be credited in the book of seller.
Question number: 36
Question
A trader provided the following information.
| $ | |
| 1 April Purchase ledger control account balance | 9600 credit |
| 30 April totals for the month: | |
| Credit Purchase | 11300 |
| Purchase return | 800 |
| Cheque paid to creditor | 8700 |
What was the balance on the purchase ledger control account on 30 April?
Choices
| Choice (4) | Response | |
|---|---|---|
| a. | $7000 |
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| b. | $11400 |
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| c. | $15000 |
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| d. | $6500 |
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Answer
b.Explanation
The traders have to take all transactions which are related to the purchase of the company.
Hence
Thus