Exam 8: Accounts Receivable and Further Record-Keeping
Exam 1: Introduction to Financial Accounting46 Questions
Exam 2: Measuring and Evaluating Financial Position and Financial Performance60 Questions
Exam 3: The Double-Entry System71 Questions
Exam 4: Record-Keeping45 Questions
Exam 5: Accrual Accounting Adjustments66 Questions
Exam 6: Financial Reporting Principles, accounting Standards and Auditing42 Questions
Exam 7: Internal Control and Cash39 Questions
Exam 8: Accounts Receivable and Further Record-Keeping29 Questions
Exam 9: Inventory42 Questions
Exam 10: Noncurrent Assets47 Questions
Exam 11: Liabilities28 Questions
Exam 12: Completing the Balance Sheet44 Questions
Exam 13: Revenue and Expense Recognition: Additional Concepts48 Questions
Exam 14: The Statement of Cash Flows60 Questions
Exam 15: Financial Statement Analysis50 Questions
Exam 16: Accounting Policy Choices39 Questions
Exam 17: Sustainability Reporting21 Questions
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Wrigley Ltd uses subsidiary ledgers for debtors and creditors.At 1 July 2015 debtors owed $7000 and creditors were owed $4000.Transactions for year ended 30 June 2016 were as follows:
- What was the balance of the debtors control account at 30 June 2016?

(Multiple Choice)
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Wrigley Ltd uses subsidiary ledgers for debtors and creditors.At 1 July 2015 debtors owed $7000 and creditors were owed $4000.Transactions for year ended 30 June 2016 were as follows:
- What was the balance of the creditors control account at 30 June 2016?

(Multiple Choice)
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A credit balance in a customer's account in the debtors' ledger could be due to:
(Multiple Choice)
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The trial balance of Allen Ltd at balance date showed a credit balance of $80 000 in the Allowance for doubtful debts account.Although the account of a customer standing at $16 000 had been determined to be uncollectable,this had not been written off.What was the effect of this neglect on the year-end balance sheet?
(Multiple Choice)
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Which of the following is NOT a purpose served by special journals?
(Multiple Choice)
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The trial balance of Anderson Ltd included the following balances:
On 1 October 2016,an account for $1600 was determined to be uncollectable.The journal entry to be made on that date would include a debit to:

(Multiple Choice)
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Management uses the ageing approach method to calculate the allowance for doubtful debts.An analysis of the ageing of accounts receivable shows a substantial increase in the accounts receivable in the over-90-days category.Management does not adjust the allowance for doubtful debts at year-end.As a result:
(Multiple Choice)
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At 30 June 2016 Shifty Ltd had a balance of Accounts receivable of $90 000 and an Allowance for doubtful debts of $4000.It was decided to write off the debt of Wriggler,totalling $2500,as irrecoverable.It was further decided that the Allowance for doubtful debts should stand at 5 per cent of Accounts receivable.What was the journal entry needed to write off the debt of Wriggler as irrecoverable?
(Multiple Choice)
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S Ltd has the following balance sheet information on 28 February 2016: $
On 28 February 2016,the company receives notification from R Ltd that it has filed for bankruptcy.The controller of S Ltd decides to write off R Ltd's account for $10 600.Which of the following statements is true?

(Multiple Choice)
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