The major source document which enables an employer to calculate the employee wages is the
Nominal roll of employees
Record of number of hours worked
Effort of the employee
Record of number of dependants per employee
Correct answer is B
No explanation has been provided for this answer.
The total credit sales for a period can be extracted from the
Cash book
Sales day book
Petty cash book
Returns inwards
Correct answer is B
The sales day book is a manually-maintained ledger in which is recorded the key detailed information for each individual credit sale to a customer, including the following: Customer name. Invoice number. Invoice date. Invoice amount
Debit Agromachinex and credit cash
Debit equipment and credit Agromachinex
Credit capital and debit cash
Credit cash and debit purchases
Correct answer is A
No explanation has been provided for this answer.
Debit capital and credit cash
Credit cash and debit bank
Debit cash and credit capital
Debit purchases and credit cash
Correct answer is D
Starting a business with 10500 means the business owner must have bought good for resale with that amount of money. Therefore we will debit purchase/stock account and credit cash account
Note; capital (cash in this case) is the money used in started a business
Purchases in accounting are goods bought for resale.
When the debit side total of an account, it means that the account has
Been overdrawn
Been understand
Debit balance
Credit balance
Correct answer is C
No explanation has been provided for this answer.