Accounting O Level Notes

500.00

Book Code : 104
Number of Pages : 146
Author : M. Nauman Malik
Language : English
Publishers : Read and Write Publications

 

Categories: ,

Description

TABLE OF CONTENTS
CHAPTER 1 ACCOUNTING BASICS
QUESTION 1 ……………………………………………………………………………………………………………………… 10
QUESTION 2 ……………………………………………………………………………………………………………………… 10
QUESTION 3 ……………………………………………………………………………………………………………………… 10
QUESTION 4 ……………………………………………………………………………………………………………………… 10
QUESTION 5 ……………………………………………………………………………………………………………………… 10
QUESTION 6 ……………………………………………………………………………………………………………………… 11
QUESTION 7 ……………………………………………………………………………………………………………………… 11
QUESTION 8 ……………………………………………………………………………………………………………………… 11
QUESTION 9 ……………………………………………………………………………………………………………………… 11
QUESTION 10 ……………………………………………………………………………………………………………………. 11
QUESTION 11 ……………………………………………………………………………………………………………………. 12
QUESTION 12 ……………………………………………………………………………………………………………………. 12
QUESTION 13 ……………………………………………………………………………………………………………………. 12
QUESTION 14 ……………………………………………………………………………………………………………………. 12
QUESTION 15 ……………………………………………………………………………………………………………………. 13
QUESTION 16 ……………………………………………………………………………………………………………………. 13
QUESTION 17 ……………………………………………………………………………………………………………………. 13
QUESTION 18 ……………………………………………………………………………………………………………………. 13
CHAPTER 2 BOOKS OF ORIGINAL ENTRY
QUESTION 1 ……………………………………………………………………………………………………………………… 14
QUESTION 2 ……………………………………………………………………………………………………………………… 14
QUESTION 3 ……………………………………………………………………………………………………………………… 15
QUESTION 4 ……………………………………………………………………………………………………………………… 15
QUESTION 5 ……………………………………………………………………………………………………………………… 15
QUESTION 6 ……………………………………………………………………………………………………………………… 15
QUESTION 7 ……………………………………………………………………………………………………………………… 16
QUESTION 8 ……………………………………………………………………………………………………………………… 16
QUESTION 9 ……………………………………………………………………………………………………………………… 16
QUESTION 10 ……………………………………………………………………………………………………………………. 16
QUESTION 11 ……………………………………………………………………………………………………………………. 17
QUESTION 12 ……………………………………………………………………………………………………………………. 17
QUESTION 13 ……………………………………………………………………………………………………………………. 17
QUESTION 14 ……………………………………………………………………………………………………………………. 17
QUESTION 15 ……………………………………………………………………………………………………………………. 18
QUESTION 16 ……………………………………………………………………………………………………………………. 18
QUESTION 17 ……………………………………………………………………………………………………………………. 18
QUESTION 18 ……………………………………………………………………………………………………………………. 18
CHAPTER 3 BANK RECONCILIATION STATEMENTS
QUESTION 1 ……………………………………………………………………………………………………………………… 21
QUESTION 2 ……………………………………………………………………………………………………………………… 21
QUESTION 3 ……………………………………………………………………………………………………………………… 21
QUESTION 4 ……………………………………………………………………………………………………………………… 21
QUESTION 5 ……………………………………………………………………………………………………………………… 21
QUESTION 6 ……………………………………………………………………………………………………………………… 22
QUESTION 7 ……………………………………………………………………………………………………………………… 22
QUESTION 8 ……………………………………………………………………………………………………………………… 22
QUESTION 9 ……………………………………………………………………………………………………………………… 23
QUESTION 10 ……………………………………………………………………………………………………………………. 23
QUESTION 11 ……………………………………………………………………………………………………………………. 23
QUESTION 12 ……………………………………………………………………………………………………………………. 24
QUESTION 13 ……………………………………………………………………………………………………………………. 24
QUESTION 14 ……………………………………………………………………………………………………………………. 24
QUESTION 15 ……………………………………………………………………………………………………………………. 24
QUESTION 16 ……………………………………………………………………………………………………………………. 24
QUESTION 17 ……………………………………………………………………………………………………………………. 24
QUESTION 18 ……………………………………………………………………………………………………………………. 25
CHAPTER 4 ACCOUNTING FOR NON CURRENT ASSETS
QUESTION 1 ……………………………………………………………………………………………………………………… 26
QUESTION 2 ……………………………………………………………………………………………………………………… 26
QUESTION 3 ……………………………………………………………………………………………………………………… 26
QUESTION 4 ……………………………………………………………………………………………………………………… 27
QUESTION 5 ……………………………………………………………………………………………………………………… 27
QUESTION 6 ……………………………………………………………………………………………………………………… 27
QUESTION 7 ……………………………………………………………………………………………………………………… 28
QUESTION 8 ……………………………………………………………………………………………………………………… 28
QUESTION 9 ……………………………………………………………………………………………………………………… 28
QUESTION 10 ……………………………………………………………………………………………………………………. 29
QUESTION 11 ……………………………………………………………………………………………………………………. 30
QUESTION 12 ……………………………………………………………………………………………………………………. 30
QUESTION 13 ……………………………………………………………………………………………………………………. 31
QUESTION 14 ……………………………………………………………………………………………………………………. 31
QUESTION 15 ……………………………………………………………………………………………………………………. 32
QUESTION 16 ……………………………………………………………………………………………………………………. 32
QUESTION 17 ……………………………………………………………………………………………………………………. 32
QUESTION 18 ……………………………………………………………………………………………………………………. 32
QUESTION 19 ……………………………………………………………………………………………………………………. 33
QUESTION 20 ……………………………………………………………………………………………………………………. 33
CHAPTER 5 BAD AND DOUDTFUL DEBTS
QUESTION 1 ……………………………………………………………………………………………………………………… 35
QUESTION 2 ……………………………………………………………………………………………………………………… 35
QUESTION 3 ……………………………………………………………………………………………………………………… 35
QUESTION 4 ……………………………………………………………………………………………………………………… 35
QUESTION 5 ……………………………………………………………………………………………………………………… 35
QUESTION 6 ……………………………………………………………………………………………………………………… 36
QUESTION 7 ……………………………………………………………………………………………………………………… 36
QUESTION 8 ……………………………………………………………………………………………………………………… 36
QUESTION 9 ……………………………………………………………………………………………………………………… 37
QUESTION 10 ……………………………………………………………………………………………………………………. 37
QUESTION 11 ……………………………………………………………………………………………………………………. 38
QUESTION 12 ……………………………………………………………………………………………………………………. 38
QUESTION 13 ……………………………………………………………………………………………………………………. 38
QUESTION 14 ……………………………………………………………………………………………………………………. 38
CHAPTER 6 FINANCIAL STATEMENTS OF SOLE TRADERS
QUESTION 1 ……………………………………………………………………………………………………………………… 40
QUESTION 2 ……………………………………………………………………………………………………………………… 40
QUESTION 3 ……………………………………………………………………………………………………………………… 40
QUESTION 4 ……………………………………………………………………………………………………………………… 41
QUESTION 5 ……………………………………………………………………………………………………………………… 41
QUESTION 6 ……………………………………………………………………………………………………………………… 41
QUESTION 7 ……………………………………………………………………………………………………………………… 41
QUESTION 8 ……………………………………………………………………………………………………………………… 41
QUESTION 9 ……………………………………………………………………………………………………………………… 42
QUESTION 10 ……………………………………………………………………………………………………………………. 42
QUESTION 11 ……………………………………………………………………………………………………………………. 42
QUESTION 12 ……………………………………………………………………………………………………………………. 42
QUESTION 13 ……………………………………………………………………………………………………………………. 42
QUESTION 14 ……………………………………………………………………………………………………………………. 42
QUESTION 15 ……………………………………………………………………………………………………………………. 43
QUESTION 16 ……………………………………………………………………………………………………………………. 43
QUESTION 17 ……………………………………………………………………………………………………………………. 43
QUESTION 18 ……………………………………………………………………………………………………………………. 43
QUESTION 19 ……………………………………………………………………………………………………………………. 43
QUESTION 20 ……………………………………………………………………………………………………………………. 43
QUESTION 21 ……………………………………………………………………………………………………………………. 44
QUESTION 22 ……………………………………………………………………………………………………………………. 44
QUESTION 23 ……………………………………………………………………………………………………………………. 44
QUESTION 24 ……………………………………………………………………………………………………………………. 45
QUESTION 25 ……………………………………………………………………………………………………………………. 45
QUESTION 26 ……………………………………………………………………………………………………………………. 45
QUESTION 27 ……………………………………………………………………………………………………………………. 46
QUESTION 28 ……………………………………………………………………………………………………………………. 46
QUESTION 29 ……………………………………………………………………………………………………………………. 47
QUESTION 30 ……………………………………………………………………………………………………………………. 47
CHAPTER 7 PARTNERSHIP ACCOUNTS
QUESTION 1 ……………………………………………………………………………………………………………………… 49
QUESTION 2 ……………………………………………………………………………………………………………………… 49
QUESTION 3 ……………………………………………………………………………………………………………………… 50
QUESTION 4 ……………………………………………………………………………………………………………………… 50
QUESTION 5 ……………………………………………………………………………………………………………………… 51
QUESTION 6 ……………………………………………………………………………………………………………………… 51
QUESTION 7 ……………………………………………………………………………………………………………………… 52
QUESTION 8 ……………………………………………………………………………………………………………………… 52
QUESTION 9 ……………………………………………………………………………………………………………………… 52
QUESTION 10 ……………………………………………………………………………………………………………………. 52
QUESTION 11 ……………………………………………………………………………………………………………………. 53
QUESTION 12 ……………………………………………………………………………………………………………………. 53
QUESTION 13 ……………………………………………………………………………………………………………………. 53
QUESTION 14 ……………………………………………………………………………………………………………………. 53
QUESTION 15 ……………………………………………………………………………………………………………………. 53
QUESTION 16 ……………………………………………………………………………………………………………………. 54
QUESTION 17 ……………………………………………………………………………………………………………………. 54
QUESTION 18 ……………………………………………………………………………………………………………………. 55
QUESTION 19 ……………………………………………………………………………………………………………………. 55
CHAPTER 8 CAPITAL & REVENUE
QUESTION 1 ……………………………………………………………………………………………………………………… 58
QUESTION 2 ……………………………………………………………………………………………………………………… 58
QUESTION 3 ……………………………………………………………………………………………………………………… 58
QUESTION 4 ……………………………………………………………………………………………………………………… 59
QUESTION 5 ……………………………………………………………………………………………………………………… 59
QUESTION 6 ……………………………………………………………………………………………………………………… 59
CHAPTER 9 CORRECTION OF ERRORS
QUESTION 1 ……………………………………………………………………………………………………………………… 61
QUESTION 2 ……………………………………………………………………………………………………………………… 62
QUESTION 3 ……………………………………………………………………………………………………………………… 62
QUESTION 4 ……………………………………………………………………………………………………………………… 62
QUESTION 5 ……………………………………………………………………………………………………………………… 63
QUESTION 6 ……………………………………………………………………………………………………………………… 63
CHAPTER 10 CONTROL ACCOUNTS 
QUESTION 1 ……………………………………………………………………………………………………………………… 64
QUESTION 2 ……………………………………………………………………………………………………………………… 64
QUESTION 3 ……………………………………………………………………………………………………………………… 64
QUESTION 4 ……………………………………………………………………………………………………………………… 64
QUESTION 5 ……………………………………………………………………………………………………………………… 65
QUESTION 6 ……………………………………………………………………………………………………………………… 65
QUESTION 7 ……………………………………………………………………………………………………………………… 65
QUESTION 8 ……………………………………………………………………………………………………………………… 66
QUESTION 9 ……………………………………………………………………………………………………………………… 66
QUESTION 10 ……………………………………………………………………………………………………………………. 66
QUESTION 11 ……………………………………………………………………………………………………………………. 67
QUESTION 12 ……………………………………………………………………………………………………………………. 67
CHAPTER 11 ACCOUNTS FROM INCOMPLETE RECORDS
QUESTION 1 ……………………………………………………………………………………………………………………… 69
QUESTION 2 ……………………………………………………………………………………………………………………… 69
QUESTION 3 ……………………………………………………………………………………………………………………… 70
CHAPTER 12 ACCOUNTS OF NON PROFIT ORGANISATIONS
QUESTION 1 ……………………………………………………………………………………………………………………… 72
QUESTION 2 ……………………………………………………………………………………………………………………… 72
QUESTION 3 ……………………………………………………………………………………………………………………… 72
QUESTION 4 ……………………………………………………………………………………………………………………… 73
QUESTION 5 ……………………………………………………………………………………………………………………… 73
QUESTION 6 ……………………………………………………………………………………………………………………… 73
QUESTION 7 ……………………………………………………………………………………………………………………… 74
QUESTION 8 ……………………………………………………………………………………………………………………… 74
QUESTION 9 ……………………………………………………………………………………………………………………… 74
QUESTION 10 ……………………………………………………………………………………………………………………. 74
QUESTION 11 ……………………………………………………………………………………………………………………. 74
QUESTION 12 ……………………………………………………………………………………………………………………. 74
CHAPTER 13 MANUFACTURING ACCOUNTS 
QUESTION 1 ……………………………………………………………………………………………………………………… 77
QUESTION 2 ……………………………………………………………………………………………………………………… 77
QUESTION 3 ……………………………………………………………………………………………………………………… 77
QUESTION 4 ……………………………………………………………………………………………………………………… 77
QUESTION 5 ……………………………………………………………………………………………………………………… 78
QUESTION 6 ……………………………………………………………………………………………………………………… 78
QUESTION 7 ……………………………………………………………………………………………………………………… 78
QUESTION 8 ……………………………………………………………………………………………………………………… 78
QUESTION 9 ……………………………………………………………………………………………………………………… 79
QUESTION 10 ……………………………………………………………………………………………………………………. 79
QUESTION 11 ……………………………………………………………………………………………………………………. 79
QUESTION 12 ……………………………………………………………………………………………………………………. 80
QUESTION 13 ……………………………………………………………………………………………………………………. 80
QUESTION 14 ……………………………………………………………………………………………………………………. 80
QUESTION 15 ……………………………………………………………………………………………………………………. 80
CHAPTER 14 COMPANY ACCOUNTS
QUESTION 1 ……………………………………………………………………………………………………………………… 82
QUESTION 2 ……………………………………………………………………………………………………………………… 83
QUESTION 3 ……………………………………………………………………………………………………………………… 83
QUESTION 4 ……………………………………………………………………………………………………………………… 83
QUESTION 5 ……………………………………………………………………………………………………………………… 83
QUESTION 6 ……………………………………………………………………………………………………………………… 85
QUESTION 7 ……………………………………………………………………………………………………………………… 85
QUESTION 8 ……………………………………………………………………………………………………………………… 86
QUESTION 9 ……………………………………………………………………………………………………………………… 87
QUESTION 10 ……………………………………………………………………………………………………………………. 87
QUESTION 11 ……………………………………………………………………………………………………………………. 87
QUESTION 12 ……………………………………………………………………………………………………………………. 88
QUESTION 13 ……………………………………………………………………………………………………………………. 88
QUESTION 14 ……………………………………………………………………………………………………………………. 88
QUESTION 15 ……………………………………………………………………………………………………………………. 88
QUESTION 16 ……………………………………………………………………………………………………………………. 89
QUESTION 17 ……………………………………………………………………………………………………………………. 89
QUESTION 18 ……………………………………………………………………………………………………………………. 89
QUESTION 19 ……………………………………………………………………………………………………………………. 89
QUESTION 20 ……………………………………………………………………………………………………………………. 89
QUESTION 21 ……………………………………………………………………………………………………………………. 89
QUESTION 22 ……………………………………………………………………………………………………………………. 90
QUESTION 23 ……………………………………………………………………………………………………………………. 90
QUESTION 24 ……………………………………………………………………………………………………………………. 90
QUESTION 25 ……………………………………………………………………………………………………………………. 90
QUESTION 26 ……………………………………………………………………………………………………………………. 91
QUESTION 27 ……………………………………………………………………………………………………………………. 91
CHAPTER 15 RATIO ANALYSIS
QUESTION 1 ……………………………………………………………………………………………………………………… 94
QUESTION 2 ……………………………………………………………………………………………………………………… 94
QUESTION 3 ……………………………………………………………………………………………………………………… 94
QUESTION 4 ……………………………………………………………………………………………………………………… 94
QUESTION 5 ……………………………………………………………………………………………………………………… 95
QUESTION 6 ……………………………………………………………………………………………………………………… 95
QUESTION 7 ……………………………………………………………………………………………………………………… 95
QUESTION 8 ……………………………………………………………………………………………………………………… 95
QUESTION 9 ……………………………………………………………………………………………………………………… 96
QUESTION 10 ……………………………………………………………………………………………………………………. 96
QUESTION 11 ……………………………………………………………………………………………………………………. 96
QUESTION 12 ……………………………………………………………………………………………………………………. 97
QUESTION 13 ……………………………………………………………………………………………………………………. 97
QUESTION 14 ……………………………………………………………………………………………………………………. 97
QUESTION 15 ……………………………………………………………………………………………………………………. 98
QUESTION 16 ……………………………………………………………………………………………………………………. 98
QUESTION 17 ……………………………………………………………………………………………………………………. 98
QUESTION 18 ……………………………………………………………………………………………………………………. 99
QUESTION 19 ……………………………………………………………………………………………………………………. 99
QUESTION 20 ……………………………………………………………………………………………………………………. 99
QUESTION 21 ……………………………………………………………………………………………………………………. 99
QUESTION 22 ………………………………………………………………………………………………………………….. 100
QUESTION 23 ………………………………………………………………………………………………………………….. 100
QUESTION 24 ………………………………………………………………………………………………………………….. 100
QUESTION 25 ………………………………………………………………………………………………………………….. 100
QUESTION 26 ………………………………………………………………………………………………………………….. 101
QUESTION 27 ………………………………………………………………………………………………………………….. 101
QUESTION 28 ………………………………………………………………………………………………………………….. 102
QUESTION 29 ………………………………………………………………………………………………………………….. 102
QUESTION 30 ………………………………………………………………………………………………………………….. 103
QUESTION 31 ………………………………………………………………………………………………………………….. 103
QUESTION 32 ………………………………………………………………………………………………………………….. 103
QUESTION 33 ………………………………………………………………………………………………………………….. 104
QUESTION 34 ………………………………………………………………………………………………………………….. 104
QUESTION 35 ………………………………………………………………………………………………………………….. 104
QUESTION 36 ………………………………………………………………………………………………………………….. 105
QUESTION 37 ………………………………………………………………………………………………………………….. 105
QUESTION 38 ………………………………………………………………………………………………………………….. 105
QUESTION 39 ………………………………………………………………………………………………………………….. 106
QUESTION 40 ………………………………………………………………………………………………………………….. 106
QUESTION 41 ………………………………………………………………………………………………………………….. 106
QUESTION 42 ………………………………………………………………………………………………………………….. 106
QUESTION 43 ………………………………………………………………………………………………………………….. 107
QUESTION 44 ………………………………………………………………………………………………………………….. 107
QUESTION 45 ………………………………………………………………………………………………………………….. 107
QUESTION 46 ………………………………………………………………………………………………………………….. 108
QUESTION 47 ………………………………………………………………………………………………………………….. 108
QUESTION 48 ………………………………………………………………………………………………………………….. 108
QUESTION 49 ………………………………………………………………………………………………………………….. 108
QUESTION 50 ………………………………………………………………………………………………………………….. 109
QUESTION 51 ………………………………………………………………………………………………………………….. 109
QUESTION 52 ………………………………………………………………………………………………………………….. 109
QUESTION 53 ………………………………………………………………………………………………………………….. 109
QUESTION 54 ………………………………………………………………………………………………………………….. 110
QUESTION 55 ………………………………………………………………………………………………………………….. 110
QUESTION 56 ………………………………………………………………………………………………………………….. 111
QUESTION 57 ………………………………………………………………………………………………………………….. 111
QUESTION 58 ………………………………………………………………………………………………………………….. 111
QUESTION 59 ………………………………………………………………………………………………………………….. 111
QUESTION 60 ………………………………………………………………………………………………………………….. 112
QUESTION 61 ………………………………………………………………………………………………………………….. 113
QUESTION 62 ………………………………………………………………………………………………………………….. 113
CHAPTER 16 ACCOUNTING CONCEPTS
QUESTION 1 ……………………………………………………………………………………………………………………. 115
QUESTION 2 ……………………………………………………………………………………………………………………. 115
QUESTION 3 ……………………………………………………………………………………………………………………. 115
QUESTION 4 ……………………………………………………………………………………………………………………. 115
QUESTION 5 ……………………………………………………………………………………………………………………. 115
QUESTION 6 ……………………………………………………………………………………………………………………. 116
QUESTION 7 ……………………………………………………………………………………………………………………. 116
QUESTION 8 ……………………………………………………………………………………………………………………. 116
QUESTION 9 ……………………………………………………………………………………………………………………. 116
QUESTION 10 ………………………………………………………………………………………………………………….. 116
QUESTION 11 ………………………………………………………………………………………………………………….. 116
QUESTION 12 ………………………………………………………………………………………………………………….. 117
QUESTION 13 ………………………………………………………………………………………………………………….. 117
QUESTION 14 ………………………………………………………………………………………………………………….. 117
QUESTION 15 ………………………………………………………………………………………………………………….. 117
QUESTION 16 ………………………………………………………………………………………………………………….. 118
QUESTION 17 ………………………………………………………………………………………………………………….. 118
QUESTION 18 ………………………………………………………………………………………………………………….. 118
QUESTION 19 ………………………………………………………………………………………………………………….. 118
QUESTION 20 ………………………………………………………………………………………………………………….. 119
QUESTION 21 ………………………………………………………………………………………………………………….. 119
QUESTION 22 ………………………………………………………………………………………………………………….. 120
QUESTION 23 ………………………………………………………………………………………………………………….. 120
QUESTION 24 ………………………………………………………………………………………………………………….. 121
QUESTION 25 ………………………………………………………………………………………………………………….. 122
QUESTION 26 ………………………………………………………………………………………………………………….. 122
QUESTION 27 ………………………………………………………………………………………………………………….. 123
QUESTION 28 ………………………………………………………………………………………………………………….. 123
QUESTION 29 ………………………………………………………………………………………………………………….. 124
QUESTION 30 ………………………………………………………………………………………………………………….. 124
QUESTION 31 ………………………………………………………………………………………………………………….. 125
QUESTION 32 ………………………………………………………………………………………………………………….. 125
QUESTION 33 ………………………………………………………………………………………………………………….. 125
QUESTION 34 ………………………………………………………………………………………………………………….. 125
CHAPTER 17 DEPARTMENTAL ACCOUNTS (ONLY FOR O LEVEL)
QUESTION 1 ……………………………………………………………………………………………………………………. 126
QUESTION 2 ……………………………………………………………………………………………………………………. 126
CHAPTER 18 INFORMATION & COMMUNICATION TECHNOLOGY (ONLY FOR O LEVEL) 
QUESTION 1 ……………………………………………………………………………………………………………………. 127
QUESTION 2 ……………………………………………………………………………………………………………………. 127
CHAPTER 19 PAYROLL ACCOUNTING (ONLY FOR O LEVEL) 
QUESTION 1 ……………………………………………………………………………………………………………………. 129
QUESTION 2 ……………………………………………………………………………………………………………………. 129
QUESTION 3 ……………………………………………………………………………………………………………………. 129
QUESTION 4 ……………………………………………………………………………………………………………………. 129
QUESTION 5 ……………………………………………………………………………………………………………………. 130
QUESTION 6 ……………………………………………………………………………………………………………………. 130
QUESTION 7 ……………………………………………………………………………………………………………………. 130
QUESTION 8 ……………………………………………………………………………………………………………………. 131

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