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Punjab (PTB) · Chapter test · Free

1st Year Principles of Accounting Chapter 7 TestSpecial Journals

30 marks · 40 minutes · 21 questions. Covers: CHAP 7: Special Journals.

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1st Year Principles of Accounting Chapter 7 Test

1st Year · Principles of Accounting · Punjab (PTB)

Name: ____________Roll No: ________Class/Section: ________Date: ________Total marks: 30Time: 40 minutes

Q1. Multiple choice questions (Attempt all · 10 × 1 = 10)

  1. Which book is used to record all credit purchases?

    1. Purchases book

    2. Purchase returns book

    3. Cash book

    4. Debit note book

  2. All the bills given to the creditors are recorded in:

    1. Creditor’s book

    2. Bill payable book

    3. Bill receivable book

    4. Bank book

  3. A document given by the seller to the buyer for credit sale of goods or assets is called:

    1. Cash memo

    2. Invoice

    3. Voucher

    4. None of these

  4. A  book which is used to record small expenses is called:

    1. Expenses book

    2. Cash book

    3. Petty cash book

    4. Purchases book

  5. When the goods are returned to the suppliers, an intimation is sent to them is called:

    1. Currency note

    2. Invoice

    3. Debit note

    4. Credit note

  6. All the acceptances received from the debtors are recorded in:

    1. Cash book

    2. Bills payable book

    3. Debtor’s book

    4. Bills  receivable book

  7. The periodical total of purchases returns book is posted to:

    1. Debit of returns outwards account

    2. Credit of returns inwards account

    3. Debit of returns inwards account

    4. Credit of returns outwards account

  8. The book which is used to record all goods returned to us by our customers is called:

    1. Returns outwards book

    2. Returns inwards book

    3. Sales book

    4. Cash book

  9. Which book is used to record all cash receipts and cash payments?

    1. Sale book

    2. Purchase book

    3. Cash book

    4. Petty cash book

  10. Sales returns book periodical total is posted to:

    1. Debit of returns inwards account

    2. Credit of returns inwards account

    3. Debit of returns outwards account

    4. Credit of returns outwards account

Q2. Short questions (Attempt any 6 of 8 · 6 × 2 = 12)

  1. What is bills receivable book?

  2. Define “Cash Book”, or “Cash Journal”.

  3. What do you understand by Purchases book/Purchases journal?

  4. Write down the names of four Subsidiary books.

  5. What is meant by “Debit note”?

  6. What is general journal?

  7. What is bills payable book?

  8. Explain Sales Book/ Sales Journal.

Q3. Long questions (Attempt any 2 of 3 · 2 × 4 = 8)

  1. Write up the purchases Journal (Book) of Mr. Asif from the following particulars and show their posting into the ledger.

    Jan 01, 2022:    Purchased from Bashir Plastic Co. Ltd. 12 dozens of plastic tubes @ Rs. 140 per dozen.
    Jan 02, 2022:    Bought of Imran & Sons 20 table glasses @ Rs. 30 each.
    Jan 10, 2022:    Bought of Rafiq Ltd. 30 tables @ Rs. 120 each and 5 chairs @ Rs. 200 each.
    Jan 18, 2022:    Bought of Riaz & Sons 50 shirts @ Rs. 100 each less 10% trade discount.

  2. From the following particulars write up the sales Journal of Raza computers and show their posting into the ledger.

    April 02, 2022:   Sold to Ali & Bros on credit 14 hard disks @ Rs. 2000 each.
    April 08, 2022:   Sold to Asim & Sons 20 modems @ Rs. 1100 each.
    April 15, 2022:   Sold to Saad computers 14 processors @ Rs. 2,500 each.
    April 22, 2022:   Sold to Tariq & Sons on credit 12 monitors @ Rs. 4,000 each, less trade discount 10%.

  3. Enter the following transactions in the Sales Returns Journal (Returns Inwards Book) and post them to the ledger accounts.

    April 03, 2022:   Received back from Sohail & Co. 10 tables @ 100 per table not according to specification.
    April 12, 2022:   Returned by K. Khalid an almirah valued at Rs. 600 for damaged in transit.
    April 18, 2022:   Received back from M. Ashraf 12 chairs @ Rs. 50 each not according to order.
    April 20, 2022:   Returned by Waseem & Bros a show case valued at Rs. 1,000 for inferior quality.