Japan Chamber of Commerce Bookkeeping Grade 3 | Subsidiary Books, Slips and Trial Balances 01
Problem 1 ・ Question 1 / 10
Which subsidiary book records cash received and paid as each transaction occurs?
View explanation
The cash book records the movements in and balance of the cash account in detail.
Problem 1 ・ Question 2 / 10
Which book manages the movements in and balance of receivables by customer?
View explanation
The customers ledger, also called the accounts receivable ledger, manages receivables customer by customer.
Problem 1 ・ Question 3 / 10
Which book manages the balance of payables by supplier?
View explanation
The suppliers ledger, also called the accounts payable ledger, records liabilities supplier by supplier.
Problem 1 ・ Question 4 / 10
Which book records receipts, issues and stock quantities for each product?
View explanation
The stock ledger is a subsidiary book managing movements in and out and the stock held, product by product.
Problem 1 ・ Question 5 / 10
Which pair are the principal books?
View explanation
The journal and the general ledger, which record and classify all transactions, are the principal books.
Problem 1 ・ Question 6 / 10
Which slip is used exclusively for transactions involving cash received?
View explanation
Transactions bringing cash in are recorded on a receipt slip.
Problem 1 ・ Question 7 / 10
Which slip records transactions that involve no movement of cash?
View explanation
Transactions on account and others not involving cash are recorded on a transfer slip.
Problem 1 ・ Question 8 / 10
Which statement is prepared to check that the debit and credit totals of all the accounts agree?
View explanation
The total trial balance sums the debit and credit totals of each account to check the accuracy of posting.
Problem 1 ・ Question 9 / 10
Which account normally appears on the debit side of a balance trial balance?
View explanation
Cash is an asset and so normally carries a debit balance.
Problem 1 ・ Question 10 / 10
What is the procedure of entering journal entries into the individual accounts of the general ledger called?
View explanation
Transferring what is in the journal to the ledger by account is called posting.
Result
More sets in this exam
- Japan Chamber of Commerce Bookkeeping Grade 3 | Bookkeeping Fundamentals
- Japan Chamber of Commerce Bookkeeping Grade 3 | Merchandise Journal Entries 01
- Japan Chamber of Commerce Bookkeeping Grade 3 | Cash, Deposits, Receivables and Payables 02
- Japan Chamber of Commerce Bookkeeping Grade 3 | Fixed Assets, Expenses and Taxes 03
- Japan Chamber of Commerce Bookkeeping Grade 3 | Everyday Transaction Entries 04
- Japan Chamber of Commerce Bookkeeping Grade 3 | Books and Slips 02