Free online quizzes and exams to copy For Business and Teachers

Tour Menu

Go back to browse: Free exams and quizzes

Free Exam: A payables ledger control account showed a credit balance of $768,420. The payables ledger balances

Number of Questions in Test: 2

Note: Answers are not shown below but will be copied with this test.

Copy this test to my quiz maker account

Register with ClassMarker to copy free tests to give to your Test takers.

Register now

Question 1

At 1 January 2006 a company had an allowance for receivables of $49,000.
At 31 December 2006 the company's trade receivables were $863,000 and it was decided to write off balances
totalling $23,000 and to adjust the allowance for receivables to the equivalent of 5% of the remaining receivables
based on past experience.
What total figure should appear in the company's income statement for bad debts and allowance for receivables?

Type: Multiple choice
Points: 1
Randomize answers: No

Question 2

A payables ledger control account showed a credit balance of $768,420. The payables ledger balances totalled
$781,200.
Which one of the following possible errors could account in full for the difference?

Type: Multiple choice
Points: 1
Randomize answers: No

Register now for a quiz maker account to create online tests for free.

ClassMarker is a Quiz maker for teachers and businesses alike.

Did you know, with ClassMarker you can: