T-type Ledger accounts has the following format:
According to double-entry rules, if an asset increases, .......
Which item below is not an asset?
According to double-entry rules, if a liability decreases, .......
A ....... is someone to whom you owe money after you buy on credit.
In the following transaction: ‘The owner puts a further amount into the business by cheque’, which account is debited and which account is credited?
A general term for amounts owing to persons other than the owner is ......
In the accounting equation, ........
The word ......... in the heading of the balance sheet is linked to the idea of the snapshot photograph.
‘Capital’ is ................
4 types of personal accounts include capital, supplier, customer, and ..........
The account ‘T Smith’ has 4 transactions during July, Year 4, including 2 debit entries with £50 & £80 and 2 credit entries with £170 and £230. How much is the balance of this account at the end of July, Year 4?
.............. is direct transfer between bank accounts, involving fixed accounts at regular intervals.
............. accounts are individual accounts of debtors and creditors.
.............. Ledger is used to record creditor accounts
.............. is a direct means of transferring money through the bank systems, which is initiated by the paying party.
.............. Ledger is used to record debtor accounts
The difference between current account and deposit account is that current account is used for ............ banking and withdrawal of money, and in deposit account withdrawals will be .............
Where balances are carried forward from one page to the next, ‘balance .........’ would appear at the bottom of one page and ‘balance .......’ at the top of the next page.
The account ‘Bank’ has 3 transactions during July, Year 4, including 1 debit entries with £2,000 and 2 credit entries with £170 and £240. How much is the balance of this account at the end of July, Year 4?
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