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CH-1 Perpetual Inventory System

Quiz by Shouq Isa Rashid Aldoseri

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3 questions
Show answers
  • Q1

    Sold merchandise to customer Ahmed on credit for BD10,000. The merchandise sold had cost BD4,400. Select the correct entry for merchandise sold.

    DR. Cost of goods sold BD4,400 and CR. Merchandise Inventory BD4,400

    DR. Cost of goods sold BD10,000 and CR. Merchandise Inventory BD10,000

    DR. Merchandise Inventory BD4,400 and CR. Cost of goods sold BD4,400

    30s
  • Q2

    Purchased merchandise from Saleh Company for BD13,500.

    DR. Merchandise Inventory BD13,500 and CR. Account Payable BD13,500.

    DR. Account Payable  BD13,500 and CR. Merchandise Inventory BD13,500.

    DR. Purchases BD13,500 and CR. Account Payable BD13,500.

    30s
  • Q3

    Returned sold merchandise by cash to Sara Company for BD 1,750.

    DR. Cash BD1,750 and CR. Sales Returns BD1,750

    DR. Sales BD1,750 and CR. Cash BD1,750

    DR. Sales Returns BD1,750 and CR. Cash BD1,750

    20s

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