The double entry recording system quiz: O-Level Principles of Accounts (SEAB/Cambridge 7087) quiz

The debit side

The credit side

Either side, depending on the month

Neither side; assets are not posted

Expenses, assets and drawings

Assets, income and drawings

Liabilities, income and capital

Expenses, liabilities and capital

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

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

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

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

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

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

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

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

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

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

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

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

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

Debit the customer $300$; credit returns inwards $300$

Debit returns outwards $300$; credit the supplier $300$

Debit sales $300$; credit bank $300$

Debit returns inwards $300$; credit the customer $300$

Debit the supplier $500$; credit returns outwards $500$

Debit returns outwards $500$; credit the supplier $500$

Debit returns inwards $500$; credit the supplier $500$

Debit the supplier $500$; credit purchases $500$

$12{,}400$ credit, a liability

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

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

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

Because the figures are rounded until they match

Because the balance c/d is inserted on the smaller side to make the totals agree

Because debits are ignored

Because every account must show a profit

On the motor vehicles account

On the cash account

On the rent expense account

On the trade payables (supplier) account

Debit purchases $250$; credit drawings $250$

Debit drawings $250$; credit purchases $250$

Debit sales $250$; credit drawings $250$

Debit drawings $250$; credit bank $250$

Debit cash $600$; credit drawings $600$

Debit drawings $600$; credit cash $600$

Debit drawings $600$; credit capital $600$

Debit cash $600$; credit capital $600$