Cash Payments Journal (Grade 10 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What is the primary purpose of a Cash Payments Journal?
What is the primary purpose of a Cash Payments Journal?
To track all payments made by cheques/bank
Which benefit does the CPJ provide to a business?
Which benefit does the CPJ provide to a business?
Provides an audit trail for payments
What information must appear in the CPJ heading?
What information must appear in the CPJ heading?
Name of journal, business, time period
What is typically recorded in the 'Doc' column of the CPJ?
What is typically recorded in the 'Doc' column of the CPJ?
The cheque number
What is the nature of 'Discount received' in accounting?
What is the nature of 'Discount received' in accounting?
It is income - a benefit to the business
What formula shows the discount relationship in the CPJ?
What formula shows the discount relationship in the CPJ?
Bank + Discount received = Creditors' ctrl
Which column is used to record dishonoured cheques (R/D)?
Which column is used to record dishonoured cheques (R/D)?
Debtors control
Where would wages paid to employees be recorded in the CPJ?
Where would wages paid to employees be recorded in the CPJ?
Wages column
What does the Creditors control column record?
What does the Creditors control column record?
Total amount creditor's account decreases
Which transaction is commonly recorded in the CPJ?
Which transaction is commonly recorded in the CPJ?
Paying creditors