Commerce and Accounting · JCE / Double-entry bookkeeping
StructuredPast exam questionForm 3 · JCE
Thato is a trader. 2018 July 2: bought goods on credit from Thabang Wholesalers worth P500. July 3: Thato took goods worth P60 for personal use. Describe how the transactions are recorded in the Purchases Account and balance off the account.
- aPurchases account entries and balance [4]
You'll mark your own answer against the marking guide when you hand it in.
Source: BEC JCE Commerce and Accounting 2019, Paper 1, Question 20
Report a problem
More like this
- Name an accounting concept which states that the financial affairs of a business should be separated from the financial affairs of the owner.
- Complete the table using the words debit or credit to show the double entry rule for assets.
- James bought a motor van on credit from XYZ Motors for P50 000 on 31 June 2020. Describe how this transaction is recorded in the books of James.
- Bame, a trader, had Assets P1 000, Liabilities P700 and Capital P300 on 30 September 2020. On 1 October, Bame paid a creditor P200 by cash. Complete …
- A business received rent of P1 500 cash on 2 May 2020. Describe how this transaction is recorded in the business books.
- Name an account that can have either a debit or a credit balance.
- State a column in a ledger account which indicates where the double entry for a transaction can be found.
- Lebitso sent an invoice to Jim for goods sold on credit. Lebitso is a creditor while Jim is a debtor.