IGCSE Accounting Paper-1: Specimen Questions with Answers 35 - 36 of 338

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Question 35

Question

MCQ▾

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)

a.

Sale Entry in the Books of Hyundai Motors
Account debitedAccount credited
M. JacobSales

b.

Sale Entry in the Books of Hyundai Motors
Account debitedAccount credited
M. JacobCar

c.

Sale Entry in the Books of Hyundai Motors
Account debitedAccount credited
SalesM. Jacob

d.

Sale Entry in the Books of Hyundai Motors
Account debitedAccount credited
CarM. Jacob

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 36

Question

MCQ▾

A trader provided the following information.

Purchase Transaction of the Trade Information as on 30th April
$
1 April Purchase ledger control account balance9600 credit
30 April totals for the month:
Credit Purchase11300
Purchase return800
Cheque paid to creditor8700

What was the balance on the purchase ledger control account on 30 April?

Choices

Choice (4)

a.

$ 7000

b.

$ 11400

c.

$ 15000

d.

$ 6500

Answer

b.

Explanation

The traders have to take all transactions which are related to the purchase of the company.

Hence

Thus

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