Which of the following is incorrect where aassets

8. Which of the following is incorrect? Where A=Assets, L=Liabilities and C=Capital
All figures are in Ghana Cedis
A. A=7,850 L=\ ,250
B.
A=8,200 L= 2,800
C. A=9,550 L= 1,150
D. A=6,540 L= 1,120
C=6,600
C= 5,400
C= 8,200
C= 5,420
EXAMINER: RICHARD OBENG Page 2 of 11

STUDENT
10: .................................................................. OATE: .................................... SIGN: ...................................... .
E. A=6,940 L= 1,110 C= 5,320
9. Which of the following statements is correct? Where "j" represent an increase
And " t " represent a decrease
jDebtors
from Hall
10. Which of the following are correct?
(i) Assets increase at Debit and decrease at Credit
(ii) Capital increase at Debit and decrease at
(iii) Liabilities increase at Credit and decrease at
Credit
Debit
10.
Which of the following are correct?
(i) Bought office furniture for cash; Dr. Office furniture and Cr.
(ii) A debtor, P Sangster, pays us by cheque; Dr. Bank and Cr. P Sangster
(iii) Introduced capital by
cheque~
Dr. Capit·al and Cr.
(iv) Paid a creditor, B Lee, by cash; Dr. B Lee and Cr.
Cash
Bank
Cash
only
only
only
only
12.
Which of the following are correct?
(i) Sold van for cash; Dr. Cash and Cr.
(ii) Returned some of Office Equipment to Suppliers Ltd; Dr. Office Equipment
Suppliers Ltd
(iii) Repaid pali of loan from C Charles by cheque; Dr. Loan from C Charle and
(iv) Bought machinery on credit fronl Betterways Ltd; Dr. Betterways Ltd and Cr.
Van
and Dr.
Cr. Bank
Machinery
A. (ii) and (iv)
B. (iii) and (iv)
C.
(ii)
and (iii)
only
only
only
EXAMINER: RICHARD OBENG
Page 3 of 11

STUDENT 10: .................................................................. OATE: .................................... SIGN: ...................................... .
D. (i) and (iii) only
E. All of the above
13. Which of the following, are incorrect?
(i) Goods sold for cash; Dr. Cash and Cr. Sales
(ii) Goods bought on credit from
T
Carter; Dr. Purchases and Cr.
(iii) Goods returned by us to C Barry; Dr. C Barry and Cr. Returns
(iv) Van bought for cash; Dr. Purchases and Cr.
T
Carter
outwards
Cash
only
only