Accounting: set 2
10 questions. Click an option: a correct answer turns green, a wrong one red, and an explanation appears.
Using the data from the previous question, what is the cost of the goods issued under the weighted average cost (AVECO) method?
The warehouse held 10 units at 1 000 soum each; then 10 units arrived at 1 200 soum each. 15 units were issued. What is the cost of the goods issued under FIFO?
An employee returned from a business trip and handed the unused balance of the advance in to the cash desk. What journal entry is made?
Monthly interest has been accrued on a bank loan taken for ordinary working capital. What journal entry is made?
An advance payment for goods from a customer has arrived in the bank. What journal entry is made?
An accountant found a wrong journal entry. He recorded that entry again with exactly the same accounts but with a minus (negative) amount, and then made the correct journal entry. What is this correction method called?
After an LLC was registered, the founder's contribution to the charter capital was recorded as a debt. Now the founder has paid the contribution in cash into the settlement account. What journal entry is made?
A sewing workshop issued fabric from the warehouse to primary production (for sewing shirts). What journal entry is made?
A retail shop records goods at a trade markup. With what journal entry is the trade markup attributable to goods sold written off?
Personal income tax was withheld from employees' accrued wages. What journal entry is made?