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Q22-2.3 Principles of Bookkeeping Controls > Practice Assessment 1 > Flashcards

Practice Assessment 1 Flashcards

1
Q

What are unpresented cheques?

A

-payments sent to suppliers at the end of the month have not yet appeared on bank statement

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2
Q

What is a counter credit?

A

-cheques and cash received by the business are deposited in the bank every day

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3
Q

What is the journal entry for recording payroll?

A

Dr gross
Dr ER’s NI
Cr PAYE
Cr all NI
Cr net wages

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Q22-2.3 Principles of Bookkeeping Controls (9 decks)

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