IGCSE Accounting Paper-1: Specimen Questions with Answers 256 - 257 of 338

Question number: 256

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MCQ▾

Question

Receipts and Payments A/c of a non-profit organization shows a payment for stationary amounting to $400 and there is opening and closing stationery amounting to $120 and $150 respectively. What is the amount to be considered as an expense in the Income & Expenditure A/c? (Marks 1)

Choices

Choice (4)

a.

$150

b.

$370

c.

$520

d.

All of the above

Answer

b.

Explanation

Consumption (Expense)

Passage

Shri Ram maintains a columnar Petty Cash Book on the imprest system. The imprest amount is $10. From the following information, show how his petty cash book would appear for the month of October 2019.

Shri Ram maintains a columnar Petty Cash Book on the imprest system. Shri Ram maintains a columnar Petty Cash Book on the imprest system.

1 - 10 - 2019

Balance in hand

$2

Received Cash to make up the imprest

Bought Printing Papers

$1

8 - 10 - 2019

Miscellaneous Expenses

$1

10 - 10 - 2019

Repairs

$2

13 - 10 - 2019

Travelling

$1

17 - 10 - 2019

Stamps

$1

30 - 10 - 2019

Miscellaneous Expenses

$2

Repairs

$1

Question number: 257 (1 of 2 Based on Passage) Show Passage

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One Liner Question▾

Write in Brief

Enter these transactions in Shri Ram’s petty cash book and bring the balance on 1stDecember 2019 (Marks 10)

Explanation

Shri Ram’s petty cash book and bring the balance on 1stDecember 2019 Shri Ram’s petty cash book and bring the balance on 1stDecember 2019

Sri Ram

Petty Cash Book

Repairs

$

Miscellaneous Expense $

Travelling

$

Stationery

$

Total Paid $

Details

Date

Total Received $

Shri Ram’s petty cash book and bring the balance on 1stDecember 2019 Shri Ram’s petty cash book and bring the balance on 1stDecember 2019

Sri Ram

Petty Cash Book

Repairs

$

2

1

3

Miscellaneous Expense $

1

2

3

Travelling

$

1

1

Stationery

$

1

1

2

Total Paid $

1

1

2

1

1

2

1

9

1

10

Details

Balance b/d

Cash Reimbursement

Stationery

Miscellaneous Expenses

Repairs

Travelling

Stationery

Miscellaneous Expenses

Repairs

Balance c/d

Balance b/d

Date

1 - 10 - 2019

8 - 10 - 2019

10 - 10 - 2019

13 - 10 - 2019

17 - 10 - 2019

30 - 10 - 2019

30 - 10 - 2019

1 - 11 - 2019

Total Received $

2

8

10

1

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