O-LevelAccountingSources and recording of data7707/11 · Oct/Nov 2015 · Q71 Mark

The following account appears in the ledger of Chan. Fu account 2015 | $ | 2015 | $ Aug 28 bank | 100 | Aug 1 balance b/d | 100 31 balance c/d | 250 | 12 purchases | 250 | 350 | | 350 Which statement is correct?

AOn 1 August Chan is owed $100 by Fu.

BOn 12 August Fu purchased goods, $250, from Chan.

COn 28 August Chan paid Fu $100 by cheque.

DOn 31 August Fu is a debtor of Chan for $250.

✓ Correct answer

C: On 28 August Chan paid Fu $100 by cheque.

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Topic: Sources and recording of data, O-Level Accounting (syllabus 7707). Multiple choice, 1 mark.
Source: O-Level Accounting, Oct/Nov 2015 Paper 1 Variant 1, question 7.

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