Ledger Accounts
Commerce ⇒ Accountancy
Ledger Accounts starts at 11 and continues till grade 12.
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See sample questions for grade 11
Explain the difference between a journal and a ledger.
Explain the difference between a personal account and a real account in the ledger.
Explain the term 'balancing of an account'.
Explain why it is important to maintain a ledger in accounting.
What is a ledger in accounting?
What is meant by 'posting' in the context of ledger accounts?
A business paid rent of Rs. 2,000 by cheque. Which account will be debited in the ledger? (1) Rent Account (2) Bank Account (3) Cash Account (4) Capital Account
A business purchased goods worth Rs. 5,000 on credit from Ram. Which account will be credited in the ledger? (1) Purchases Account (2) Ram's Account (3) Cash Account (4) Sales Account
A business paid rent of Rs. 2,000 by cheque. Which account will be debited in the ledger? (1) Rent Account (2) Bank Account (3) Cash Account (4) Capital Account
A business purchased goods worth Rs. 5,000 on credit from Ram. Which account will be credited in the ledger? (1) Purchases Account (2) Ram's Account (3) Cash Account (4) Sales Account
The balance of which of the following accounts is always debit? (1) Capital Account (2) Sales Account (3) Purchases Account (4) Income Account
Which of the following accounts will normally have a credit balance? (1) Cash Account (2) Capital Account (3) Purchases Account (4) Drawings Account
Fill in the blank: The ledger account that records the amount owed by customers is called the __________ account.
Fill in the blank: The ledger account that records the amount payable to suppliers is called the __________ account.
Fill in the blank: The ledger account which records all cash transactions is called the __________ account.
Fill in the blank: The process of totaling the debit and credit sides of a ledger account is called __________.
State whether the following is True or False: The credit side of a liability account shows increases.
State whether the following is True or False: The ledger contains only personal accounts.
State whether the following is True or False: The ledger is also called the principal book of accounts.
State whether the following statement is True or False: Each account in the ledger has two sides, debit and credit.
