The double entry recording system quiz: N(A)-Level Principles of Accounts (SEAB 7086) quiz

Rent paid

A bank loan

Capital

Sales

The credit side

The debit side

Either side

Neither side

Expenses, assets and drawings

Assets, income and drawings

Liabilities, income and capital

Expenses, liabilities and capital

A loss the business has made

The right side of the account

Money the business owes

The left side of the account

Debit capital $15{,}000$; credit bank $15{,}000$

Debit bank $15{,}000$; credit capital $15{,}000$

Debit drawings $15{,}000$; credit bank $15{,}000$

Debit bank $15{,}000$; credit sales $15{,}000$

Debit bank $1{,}200$; credit rent $1{,}200$

Debit rent $1{,}200$; credit bank $1{,}200$

Debit rent $1{,}200$; credit capital $1{,}200$

Debit drawings $1{,}200$; credit bank $1{,}200$

Debit the supplier $2{,}600$; credit purchases $2{,}600$

Debit purchases $2{,}600$; credit the supplier $2{,}600$

Debit purchases $2{,}600$; credit bank $2{,}600$

Debit sales $2{,}600$; credit the supplier $2{,}600$

Debit sales $4{,}000$; credit the customer $4{,}000$

Debit the customer $4{,}000$; credit sales $4{,}000$

Debit bank $4{,}000$; credit sales $4{,}000$

Debit purchases $4{,}000$; credit the customer $4{,}000$

The name of the other account in the double entry

The profit for the year

The owner's name

The bank's address

$12{,}400$ credit, a liability

$2{,}600$ credit balance c/d, brought down as a debit balance representing cash held

$2{,}600$ debit balance c/d, representing money owed

$4{,}900$ credit, the closing cash

On the motor vehicles account

On the rent expense account

On the trade payables (supplier) account

On the cash account

Because credits are ignored

Because every account must show a profit

Because the bank checks it

Because every transaction is recorded as an equal debit and credit

Debit cash $600$; credit drawings $600$

Debit drawings $600$; credit cash $600$

Debit drawings $600$; credit capital $600$

Debit cash $600$; credit capital $600$