Ann is a trader. On 1 April Cindy's account in Ann's ledger showed a credit balance of $520. The following transactions took place during April. April 2 Ann returned goods, $30, to Cindy. 14 Ann bought goods, $210, from Cindy, and paid in cash. Which statement about the balance on Cindy's account in Ann's ledger on 30 April is correct?

Winston decides to write off a debt due to him from Leroy for goods sold on credit. How is this recorded in Winston'…

An employer provides each employee with a time sheet. Which statement is correct?

The Sandhill Golf Club has 150 members who each pay an annual subscription of $40. On 1 January 2010 subscriptions un…

On 1 January 2009 there was a credit balance on the wages account of $2000. Wages paid during the year amounted to $4…

Rashid maintains a provision for doubtful debts of 5% of the trade receivables (debtors) at the end of each year. Tra…

A taxi firm received $500 from passengers. The firm sold a vehicle for $5000. How should these receipts be treated?