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Questions and Answers
What is the total amount of cash contributed by the owner during June 2024?
What is the total amount of cash contributed by the owner during June 2024?
- $630,000 (correct)
- $630000 plus the value of the neon sign
- $630,000 minus the value of the office furniture
- $600,000
What is the cash balance as at 30 June 2024?
What is the cash balance as at 30 June 2024?
- $134,110 (correct)
- $600,000 minus total expenses
- $134,110 plus the value of the neon sign
- $114,110
What is the correct general ledger account to debit when recording the purchase of office furniture?
What is the correct general ledger account to debit when recording the purchase of office furniture?
- Office Equipment Account
- Assets Account
- Furniture Account (correct)
- Office Furniture Expense
What is the purpose of preparing a Trial Balance?
What is the purpose of preparing a Trial Balance?
What is the normal balance of the Cash Account?
What is the normal balance of the Cash Account?
What is the purpose of posting journal entries to the general ledger?
What is the purpose of posting journal entries to the general ledger?
What is the likely presentation of work that shows a well-developed understanding of the income statement?
What is the likely presentation of work that shows a well-developed understanding of the income statement?
What is the characteristic of a work that shows little understanding of the Statement of Changes in Equity?
What is the characteristic of a work that shows little understanding of the Statement of Changes in Equity?
What is the consequence of not being able to prepare a balance sheet?
What is the consequence of not being able to prepare a balance sheet?
What is the characteristic of a work that shows a good understanding of the income statement?
What is the characteristic of a work that shows a good understanding of the income statement?
What is the likely outcome of a work that shows no errors in the Statement of Changes in Equity?
What is the likely outcome of a work that shows no errors in the Statement of Changes in Equity?
What is the characteristic of a work that shows a well-developed understanding of the balance sheet?
What is the characteristic of a work that shows a well-developed understanding of the balance sheet?
What characterizes a student's journal entries that demonstrate a well-developed understanding of the principles of journalising?
What characterizes a student's journal entries that demonstrate a well-developed understanding of the principles of journalising?
What is characteristic of a ledger that shows a good understanding of Ledger accounts?
What is characteristic of a ledger that shows a good understanding of Ledger accounts?
What distinguishes a trial balance that shows a well-developed understanding of Trial Balance?
What distinguishes a trial balance that shows a well-developed understanding of Trial Balance?
What is a characteristic of a ledger that shows little understanding of Ledger accounts?
What is a characteristic of a ledger that shows little understanding of Ledger accounts?
What characterizes a trial balance that shows little understanding of Trial Balance?
What characterizes a trial balance that shows little understanding of Trial Balance?
What is a feature of a ledger that is extremely well organised?
What is a feature of a ledger that is extremely well organised?
