mcq on journal entries pdf
Accounting MCQ Questions and answers with easy and logical explanations. If you have any queries regarding CBSE Class 11 Accountancy Trial Balance and Rectification of Errors MCQs Multiple Choice Questions with Answers, drop a comment below and we will get back to you soon. Journal Entries in Books of accounting Transaction Under GST (All values are sample number for understanding) Outward Supply-Sales Reporting in GSTR table Local Sale – B2B Dr Debtors A/c Cr Local B2B sales A/c Cr 9% Output CGST A/c Cr 9%Output SGST A/c 1,41,600 1,20,000 10,800 We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. 7. 1 Commenced business with cash 4,00,000, 3 Purchased goods from Ravi and payment made through net banking 90,000, 4 Sales made to Kumar, who deposited the money through CDM 10,000, 5 Sales made to Vivek, who made the payment by debit card 60,000, 6 Sold goods to Keerthana, who made the payment through credit card 50,000, 7 Dividend directly received by bank 2,000, 10 Cricket bats donated to a trust 10,000. (d) Nil balances Solution: Journals: Jan 1 Dr Cash on hand 80,000 Dr Bank 20,000 Cr Capital 100,000 Note that in most accounting questions you won't have to account for "Cash on hand" and "Bank" in separate accounts. The column of ledger which links the entry with journal is (a) L.F column (b) J.F column (c) Debit column (d) Credit column 4. We have provided Bank Reconciliation Statement Class 11 Accountancy MCQs Questions with Answers to help students understand the … Jeyaseeli is a sole proprietor having a provisions store. For the following transactions, pass journal entries for the month of January, 2018. 4. D and Co. accepted a bill drawn by Bragathish 30,000, 7 Received a cheque from M in full settlement and deposited the same to the bank 39,000, 8. 1 Commenced business with cash 1,00,000, 2 Purchased goods from A and Co. on credit 3,00,000, 4 Purchased goods from B and Co. and payment made through credit card 5,000, 6 Sold goods to C and Co. and cheque received 50,000, 7 Deposited the cheque received from C and Co. with the bank, 8 Purchased goods from Z & Co. and paid through debit card 12,000, 9 Stationery purchased for and paid through net banking 6,000, 10 Income tax of Deri is paid by cheque 10,000. Goods returned by M 3,000. Download PDF. From the following transactions, pass journal entries for the month of January and February, 2018. B 2. (d) None of the above Mr. Subir Roy keeps the purchase book, sales book, bills receivable book, bills payable book etc. Clipping is a handy way to collect important slides you want to go back to later. Ananth is a trader dealing in textiles. If you have difficulty answering the following questions, learn more about this topic by reading our Accounting Basics (Explanation). (c) Journal Sold goods to D and Co. on credit 30,000, 3. (b) Secondary entry Wrong! For the following transactions, pass journal entries for the month of January, 2018. D.Customer's purchase orders to the sales journal. Journal Entry (1-10) Super Genius *** Excellent *** Very Good ** Good * Fair. ANSWERS 1. Save. 6. 5) For entries not involving either cash or bank transactions we use _____ voucher. 56% average accuracy. Valluvar is a sole trader dealing in textiles. Following are the transactions during the month of January, 2018. Answer : B Discuss. (A) Sold goods on credit (B) Goods purchased and paid by cash (C)Investment made by the owner (D) Purchase goods on credit . Played 88 times. Download. 4 Sold goods to D and Co. on credit 10,000 . Preference Shares.pdf - CA INTERMEDIATE ACCOUNTING... School The Institute of Chartered Accountants of India; Course Title CA ICAI; Uploaded By DoctorTank1757. Accounting Equation MCQ Quiz & Online Test: Below is few Accounting Equation MCQ test that checks your basic knowledge of Accounting Equation abilities.This Accounting Equation MCQ Quiz & Online Test contains questions 40 of multiple choice with 4 options. by cambodiaaccountingclub. for his business institution. (d) None of the above 2 - Stock purchase for sale (cash purchase) = 3,000, credit purchase = 5,000 3 - Wages paid 120,000 (including 20,000 relating to a future year). Download Full PDF Package. What entries should be made in Joel’s books? Concrete Technology and Design. Putting on the credit side of an account is written as Edit. To play this quiz, please finish editing it. Correct! Tally Mock Test Paper in English Set-4 20 Questions | 10 Minutes. Applied Mechanics and Graphic Statics. Meaning of Carriage Inwards. (c) Cash 13 Full PDFs related to this paper. Free Online Test . 5 - Sales made for cash 600,000 and on credit 800,000. (d) From Trial Balance is a statement which accounts all the balances of the Personal account, Real account and Nominal account regardless of either Revenue or Capital A/c. Accounting MCQ is important for exams like CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other accounts department exam. Bragathish is a trader dealing in electronic goods who commenced his business in 2015. An accounting journal entry is the method used to enter an accounting transaction into the accounting records of a business. From the following transactions, pass journal entries for the month of January, 2018. Financial accounting MCQ (ledger) 1. A Contra voucher. The column of ledger which links the entry with journal is Looks like you’ve clipped this slide to already. NTA NET Paper1 Guide, Study Notes, Exam Update, NET Exam Books, Solved Papers, MCQ Research Aptitude , last 10 year answer keys If you continue browsing the site, you agree to the use of cookies on this website. 2. Answer : A Discuss. Fail. All of the following are true regarding journal entries except? MULTIPLE CHOICE QUESTIONS ON BASIC ACCOUNTING Q1] Which accounting concept satisfy the valuation criteria A] Going concern, Realisation, Cost b) Going concern, Cost, Dual aspect c) Cost, Dual aspect, Conservatism d) Realisation, Conservatism, Going concern. 1. Real accounts always show Which trial balance lists all the business accounts before year-end adjusting journal entries are made. In most questions I just combine these into "Bank." Building Construction. Basic Journal Entries Example 1. (a) Debit balance B Journal. MCQ Questions for Class 11 Accountancy with Answers were prepared based on the latest exam pattern. 4 - Salaries paid 200,000 but due 110,000. 0. This quiz is incomplete! (b) J.F column From the following transactions, pass journal entries for the month of March, 2018. D 3. December 2, Owner P created a new Entity B and invested $140,000 in cash. Now customize the name of a clipboard to store your clips. Practice. READ PAPER . March Rs. Journalise them. September 23, 2016 at 2:44 pm This is really very helpful. 19. Complete reversal of entries ; Categories General journal, Multiple choice questions (MCQs) 7 Comments Post navigation. 8. 5. mobile legends cheat on November 21, 2019 at 10:54 am . B 7. You … Goods returned to Y and Co. 4,000, 9. L became insolvent and only 90 paise per rupee is received by cash in final settlement, 10. Each MCQ includes the following attributes: ... C.Cash receipts journal to the customer's purchase orders. (b) Transactions (a) Primary entry 0. General journal – Fill in the blanks. It comprises of 2 columns viz., debit and credit. Reply . (BS) Developed by Therithal info, Chennai. When the debit side total is same as the credit total, a journal entry is balanced. 4. Record the journal entries for the following: 1 - Business started with cash 8,000 and plant & machinery 3,000. These online MCQ tests includes all main concepts of the Journal Entries in CA - CPT Fundamentals of Accounting . 1 Commenced business with cash 2,00,000, 2 Opened a bank account by depositing cash 1,00,000, 3 ‘A 4 papers’ sold on credit to Padmini and Co. 60,000, 4 Bills received from Padmini and Co. for the amount due. (b) Expenses / Losses Basic Journal Entries Examples, discussed here under are for various types of expenses, income, assets and liabilities that take place during the normal course of business. Sanjeev Thakur. journal voucher is the voucher in which all the adjustment related entries and non cash non bank transactions are entered in journal eg-dep, some of them book the bills in journal and while they make a payment they record in payment eg-contractor bill contra appears two times in two sides of a account an account will be treated as contra when 2 Purchased goods from X and Co. on credit 40,000. A journal entry is mostly recorded in a general ledger. 7 Paid Lipton & Co. by cheque for the purchases made on 4th Jan. 8 Bought furniture by cash 4,000, 9 Paid electricity charges by cash 1,000, 10 Bank paid insurance premium on furniture as per standing instructions 300. It is the first step of the accounting process. A ledger account is prepared from (a) Events (b) Transactions (c) Journal (d) None of the above 3. Journal entry is a record of a business transaction taking place in the accounting books of a business. (b) Credit balance Suspense Account : When Trial Balance does not agree, then first of all we try to locate the errors. (b) To balance b/d Reply. 4. Building Materials. Journal Entry Examples. 5. Prepare general journal entries for the following transactions of a business called Pose for Pics in 2016: Aug. 1: ... sir send some difficult journal entries for practice or any pdf of journal entriese. (d) Credit column Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. For multiple-choice and true/false questions, simply press or click on what you think is the correct answer. Tally GST MCQ Questions and Answers Pdf Download: ... B Journal . Journal Entries: Journal Entries online tests for CA - CPT Fundamentals of Accounting. (c) Final entry Solo Practice. Entity A had the following transactions in December 20×1: 1. Deepak is a dealer in stationery items. 2. (b) To Deri is a sole trader dealing in automobiles. Chandran is a sole trader dealing in sports items. When the total of debits and credits are equal, it represents (a) Being (c) Debit column Civil Engineering all Subjects Objective Questions (MCQ) with Answers Practice Test Series: To download the ebook, pdf file of all Civil Engineering Subjects Practice Tests with Answers, go to E-books Corner. From the following transactions, pass journal entries for the month of March, 2018. Carriage Inward Journal Entry – Accounts. For the following transactions, pass journal entries for the month of January, 2018, 1 Commenced business with cash 90,000, 2 Purchased goods from X and Co. on credit 40,000, 3 Accepted bill drawn by X and Co. 20,000, 4 Sold goods to D and Co. on credit 10,000. November 24, 2018 February 16, 2016 by Abbas Ahmad February 16, 2016 by Abbas Ahmad 1 Commenced business with cash 80,000, 3 Purchased goods by paying cash 5,000, 4 Purchased goods from Lipton & Co. on credit 10,000, 5 Sold goods to Joy and received cash 11,000, 6 Paid salaries by cash 5,000. 1 Commenced business with cash 70,000, 2 Purchased goods from X and Co. on credit 30,000, 4 Bought a building from L and Co. on credit 95,000, 5 Cash withdrawn from bank for office use 5,000, 6 Cash withdrawn from bank for personal use of Ananthu 4,000, 8 Shirts taken over by Ananth for personal use 12,000, 9 Sarees distributed as free samples 3,000, 10 Goods (table clothes) used for office use 200, Arun is a trader dealing in automobiles. Item ID: 8985 Key: A AUD.CSO.20190701: AUD.002.005.003 AUD.SSO.20190701: Application:2 19 . 3. Start Now. 1. Preference Shares.pdf - CA INTERMEDIATE ACCOUNTING REDEMPTION OF PREFERENCE SHARES Q2 Journal Entries in Books of PR Ltd Particulars Jan-19 Bank A\/c. Share your Results: Facebook. January 1, 2017 at 12:55 pm Aswome loved it. 1,00,000 and an advance of Rs. Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. 1. We hope the given NCERT MCQ Questions for Class 11 Accountancy Chapter 6 Trial Balance and Rectification of Errors with Answers Pdf free download will help you. A ledger account is prepared from (a) Events Paid Y and Co. through bank in full settlement 58,000, 4. Procure to Pay (P2P) – Accounting Entries. General ledger – MCQs. a year ago. (d) Current balance. A short summary of this paper. (c) By 0402 - Journal entries - MCQ DRAFT. D Purchase. (a) Journal entries show the effects of transactions (b) Journal entries provide account balances (c) The debited account titles are listed first (d) Each journal entry should begin with a date. Introduction to accounting – MCQs. MCQ on Trial Balance. (d) Assets This paper. Managerial accounting ki book download kr lo soft copy mein. Once journal entries are recorded, they can be posted to: general journals ledger accounts income statements expense reports. These online MCQ tests includes all main concepts of the Journal Entries in CA - CPT Fundamentals of Accounting . D Purchase. A) Purchase journal B) Sales journal C) Purchases return journal D) Sales return journal 3) Transactions that a business doesn't record in any specialised journal are recorded in which of the following journals or day books? Edit. MCQs on Journal Entries. 1 Commenced business with cash 90,000, 2 Purchased 20 readymade shirts from X and Co. on credit 10,000, 3 Cash deposited into bank through Cash Deposit Machine 30,000, 4 Purchased 10 readymade sarees from Y and Co. by cash 6,000, 6 Sold 5 sarees to A and Co. on credit 4,000, 7 A and Co. deposited the amount due in Cash Deposit Machine, 8 Purchased 20 sarees from Z & Co. and paid through debit card 12,000, 9 Stationery purchased for and paid through net banking 6,000, 10 Bank charges levied 200. 3. 2. If you continue browsing the site, you agree to the use of cookies on this website. C 5. Tags : Books of Prime Entry | Accountancy Books of Prime Entry | Accountancy, Study Material, Lecturing Notes, Assignment, Reference, Wiki description explanation, brief detail, Journal entries: Illustration Problems with solution, Accountancy : Books of Prime Entry - Journal entries: Illustration Problems with solution, 7 Received a cheque from M in full settlement, Application of rules of double entry system. Record journal entries for the transactions and post them to ledgers. (c) Trial balances Airport Engineering. A 4. Sometimes, in inspite of the best efforts, all the errors are not located and the Trial Balance does not tally. In all journal entries, the total of debit account amounts should be equal to the total of credit account amounts. 5. 20,000 is given in cash. (a) L.F column Q2 Dr. … Professional Development. prakash lamichhane. (c) Nil balance (a) Debit balances For fill-in-the-blank questions press or click on the blank space provided. (A) Sales journal (B) Sales returns journal (C)Purchases journal (D)Purchases returns journal 4. Credit notes issued for goods returned to a supplier will be entered firstly in the (A) General journal (B) Returns inwards journal (C)Returns outwards journal (D)Petty cash journal 5. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Print; Share; Edit; Delete; Host a game. 5 Bills received from Padmini and Co. discounted with the bank 58,000 Feb. (b) Credit balances Purchased goods from Y and Co. on credit 60,000, 2. 195 Accounting Principles Questions and Answers for Accounting Exams and Job ... Financial accounting MCQ ( subsidiary books), No public clipboards found for this slide. MCQ on Journal Entries. C Sales. C . CPT Accounts-Imp Info on Accounting Topics, TYBCom March 2012 Online Rapid Revision Course (Mumbai University), CPT Accounts Joint Venture Revision Sheet. A ledger is called a book of (a) Primary entry (b) Secondary entry (c) Final entry (d) None of the above 2. 1 Commenced business with cash 90,000. 3 Accepted bill drawn by X and Co. 20,000. Finish Editing. Advanced Surveying. You can change your ad preferences anytime. Pages 12 This preview shows page 1 - 4 out of 12 pages. Dylan J paid Joel and Company $600 to settle an account of $720. 1. 14th grade . Check the below NCERT MCQ Questions for Class 11 Accountancy Chapter 5 Bank Reconciliation Statement with Answers Pdf free download. 5 Paid by cash the bill drawn by X and Co. 6 Received cheque from D and Co. in full settlement and deposited the same in bank 9,000, 7 Commission received in cash 5,000, 8 Goods costing Rs. Homework. Besides opening Journal entries, any transaction which is not covered under any of the Subsidiary Book is done in Journal proper. Print PDF. Beside this, he records the discounted entries in other way, because he has clear concept about accounting. See our Privacy Policy and User Agreement for details. Reply. (d) By balance b/d Accounts having credit balance is closed by writing Procure to Pay (P2P) – Accounting Entries. Accounting Journal Entries Definition. A ledger is called a book of 6. See our User Agreement and Privacy Policy. Nominal account having debit balance represents 1. (a) Income / Gain 1. C Sales. Shan abid on December 19, 2019 at 7:25 pm . Which of the following entries will be entered in the General journal? 7 thoughts on “General journal – MCQs” Navjot Kaur. Live Game Live. Copyright © 2018-2021 BrainKart.com; All Rights Reserved. adjusted trial balance unadjusted trial balance post closing trial balance pre closing trial balance. Play. Jan. Rs. 40,000 was sold and cash received 50,000, 10 Building purchased from Kumar and Co. for Rs. Then he prepares the financial statement for knowing about the financial position of the business. pls send more mcqs from more practice to us.. Ur.onlineler learener nikhil shah (a) To balance c/d Journal Entries online tests for CA - CPT Fundamentals of Accounting. Share practice link. For the following transactions took place in the month of March 2018, pass journal entries. B 6. (c) By balance c/d