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Sage Accounting Dec Revision Questions And Answers With Complete Solutions | Updated
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Sage Accounting Dec Revision Questions And Answers With Complete Solutions | Updated
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Sage Accounting Dec Revision Questions AndAnswers With Complete Solutions | Updated
What is the correct coding format for entering an overdrawn Bank Current
account (1210) opening balance of £375 and a
Petty Cash (1230) account opening balance of £50 from the suggestions below? -
ANSWER CR, N/C 1230, £50 and DR, N/C 1200, £375
When debtors and creditors opening balances are being posted at the start of the
financial year - 01/02/XX, which of the
following dates could be used? - ANSWER a. 03/01/XX,c. 31/01/XX ,d.
31/12/XX
Company C processes its shop takings using the journal to record their counter
takings monthly and pay them into the bank
account. The accounts assistant notices an over payment of £15.00 in the till, how
would this be posted? - ANSWER Dr Journal to Bank account - CR Journal to
N/C 4000 - increase in profit.
To retain a bank reconciliation that has been partly processed, without losing the
matched transactions, what icon can be
used within the bank reconciliation window? - ANSWER Save Progress
A business owner manager runs a Trial Balance report and is not sure that it is
correct. She decides to send it to the
accountant for review of the balances and runs the report to Preview. What would
be the quickest way to send the
, information to the accountant? - ANSWER c. share, d. email
When using the Journal Reversal function, the information required to locate the
journal that requires removing includes
which of the following? (Tick all that apply). - ANSWER a. transaction number,
b. date
When a VAT Return has been checked, reconciled and sent to HMRC via the
Government Gateway, what Status will the
VAT Return have in the Manage VAT menu? - ANSWER Submitted
The bank has returned a cheque from a Customer. What is the best way of
processing this information? - ANSWER Use the Choose Customer Write offs &
returns.
If payments have been made from the Petty Cash account and the Bank Payments
report is chosen, why might the report
return no information? - ANSWER The Cash Payments report should have been
chosen.
Which function key will copy the cell above in the Batch Invoice screen? -
ANSWER F6
To adjust the accounts to allow for owners private use of some stock totalling
£30.00 + VAT, which of the following journals
would correct the accounts accordingly? - ANSWER CR - Purchases, CR - Sales
Tax Control, DR - Drawings
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