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CA Foundation Double-Entry Bookkeeping — practice questions — page 2

Explore 46 free Double-Entry Bookkeeping questions in CA Foundation Accounting. Open each question or exercise to read its content, reference answers and available explanation.

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Double-Entry Bookkeeping questions and exercises with answers

Showing questions 31–46 of 46.

A sale of 4,000 is left out of the books. What happens to the trial balance?Read the answer and worked solution →A purchase invoice of 21 is entered as 12 on both sides. By how much is each trial balance column short?Read the answer and worked solution →A cash sale of 100 is debited to Sales and credited to Cash. What error is this?Read the answer and worked solution →Which errors are multiple unrelated mistakes that together cancel each other out?Read the answer and worked solution →Which accounts are zeroed out when the books close?Read the answer and worked solution →If a company earns a profit for the period, what happens to retained earnings?Read the answer and worked solution →Inventory bought for 10,000 on credit is sold for 15,000 cash. Equity rises by how much?Read the answer and worked solution →Another name for the balance sheet is what?Read the answer and worked solution →Which of these is an equity account?Read the answer and worked solution →Which of these is a long-term liability?Read the answer and worked solution →By accepted practice, how are credit entries shown in a journal?Read the answer and worked solution →A service is performed for a customer who pays later. Which account is credited?Read the answer and worked solution →Revenue and expense accounts are regarded as what kind of accounts?Read the answer and worked solution →What does a chart of accounts list?Read the answer and worked solution →What does the retained earnings account reflect?Read the answer and worked solution →A contra account carries a balance that is what?Read the answer and worked solution →

Worked practice questions

A sale of 4,000 is left out of the books. What happens to the trial balance?

  1. It still agrees as before
  2. Credits exceed debits by 4,000
  3. Both sides fall short by 4,000
  4. Debits exceed credits by 4,000
Show answer and solution

Correct answer: A. It still agrees as before

Omitting both the debit and the credit leaves equal totals, so the trial balance still agrees despite the error.

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A purchase invoice of 21 is entered as 12 on both sides. By how much is each trial balance column short?

  1. 12
  2. 33
  3. 9
  4. 21
Show answer and solution

Correct answer: C. 9

21 minus 12 is 9, and both the debit to purchases and credit to the creditor are 9 less, so the columns still agree.

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A cash sale of 100 is debited to Sales and credited to Cash. What error is this?

  1. Error of commission
  2. Error of omission
  3. Error of principle
  4. Error of reversal
Show answer and solution

Correct answer: D. Error of reversal

The amounts are right but the debit and credit sides are swapped, which is an error of reversal.

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