Cash and Credit Transactions (combined)
Cash and Credit Transactions Quiz
Test your knowledge on cash and credit transactions with our comprehensive quiz designed for business students and finance enthusiasts. This quiz covers various scenarios that will challenge your understanding of accounting practices.
What to expect:
- 12 engaging questions
- Multiple choice format
- Instant scoring upon completion
On 5 May, the owner, Mr. Chills, contributed capital of R50 000 via an EFT payment.
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Received R5 000 from P Pete on 7 May, in partial settlement of his account. Issue receipt 205.
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Paid BDE Suppliers R2 500 for an outstanding account. Received R200 discount. This payment was made via EFT on 11 May.
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J Jules cannot pay her R300 account. The owner has decided to write this off as irrecoverable on 12 May.
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Paid the Telkom telephone bill via EFT, R500, on 20 May.
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The owner took stock with a selling price of R900, for personal use on 20 May. Profit is calculated at 50% on the cost price.
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Sold goods to Best Bet Shop on 25 May, R5 000.
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Purchased stationery from Online Pens, R800, on 25 May.
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The bank statement reflected the following transactions on 31 May: Bank charges, R400 and Interest received, R50
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On 31 May a R3 000 payment received from B Blush was reversed by the bank. This payment was in settlement of her account of R2500.
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