O-LevelAccountingSources and recording of data7707/11 · Oct/Nov 2015 · Q271 Mark

Yousef started a business on 1 April. His employees are paid weekly and any statutory deductions are paid to the authorities monthly in arrears. For the week ended 7 April the net wages paid to employees totalled $7500 and the statutory deductions totalled $1750. Which entries did Yousef make on 7 April?

Abank | 9250 | wages | 7500 statutory deductions | 1750

Bwages | 7500 statutory deductions | 1750 | bank | 9250

Cbank | 7500 statutory deductions | 1750 | wages | 9250

Dwages | 9250 | bank | 7500 statutory deductions | 1750

✓ Correct answer

D: wages | 9250 | bank | 7500 statutory deductions | 1750

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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 27.

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