S.

4 BAFS - Quiz 4 (Double entries)

Group:
Name: Exam no

A. Multiple Choice Questions. (10 marks)

of $2000, premises of $14
Tong set up a firm
and brought in motor vehicles
On 1 January 2012, Mr from the bank to acquire a
1.
the business. The firm borrowed $3000 and $8000 into the
000 and inventory of $5000 to into the firm's cash box
piece of equipment. Meanwhile, Mr Tong put $1000
firm's bank account.
What was the amount
of Mr Tong's capital on 1 January 2012?

A. $9 000
B. $27 000
C. $30 000
D. $33 000

2. Which of the following double entries are correct?

Account to be Account to be
Transactions credited
debited
Bank
000 cash from the Drawings
(1) Withdrew $20
bank account for business use. Cash
Sundry expenses
(2) Paid sundry expenses $3 000 in cash. Bank loan
Bank
(3) Received a bank loan of $200 000
via the bank account.

A. (1) and (2) only

B. (1) and (3) only
(2) and (3) only
2013 DSE Q28
D. (1), (2) and (3)

3. In October 2014, a firm had the following purchases and returns:

Oct 2 Purchased goods on credit from Mr Yu for $2 500

9 Purchased goods in cash for $2 000

17 Returned goods to Mr Yu for $300

26 Purchased goods on credit from Miss Lui for $3200 with a cash discount of 10% if
payment is made within 30 days

Based on the above information, what should be the total amount of purchases recorded for the
month of October 2014 in the Purchases Journal?

A. $5380
B. $5700
C. $7400
D. $7700
2015 DSE Q4
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8
S.4 BAFS - Quiz 4 (Double entries)

Group:
Name: Exam no

A. Multiple Choice Questions. (10 marks)

of $2000, premises of $14
Tong set up a firm
and brought in motor vehicles
On 1 January 2012, Mr from the bank to acquire a
1.
the business. The firm borrowed $3000 and $8000 into the
000 and inventory of $5000 to into the firm's cash box
piece of equipment. Meanwhile, Mr Tong put $1000
firm's bank account.
What was the amount
of Mr Tong's capital on 1 January 2012?

A. $9 000
B. $27 000
C. $30 000
D. $33 000

2. Which of the following double entries are correct?

Account to be Account to be
Transactions credited
debited
Bank
000 cash from the Drawings
(1) Withdrew $20
bank account for business use. Cash
Sundry expenses
(2) Paid sundry expenses $3 000 in cash. Bank loan
Bank
(3) Received a bank loan of $200 000
via the bank account.

A. (1) and (2) only

B. (1) and (3) only
(2) and (3) only
2013 DSE Q28
D. (1), (2) and (3)

3. In October 2014, a firm had the following purchases and returns:

Oct 2 Purchased goods on credit from Mr Yu for $2 500

9 Purchased goods in cash for $2 000

17 Returned goods to Mr Yu for $300

26 Purchased goods on credit from Miss Lui for $3200 with a cash discount of 10% if
payment is made within 30 days

Based on the above information, what should be the total amount of purchases recorded for the
month of October 2014 in the Purchases Journal?

A. $5380
B. $5700
C. $7400
D. $7700
2015 DSE Q4
P.1
 o

F Q ? e88
98e
8- g >
eeee
@ e3:98e
o
99g
) eee
e8 e