Theory Q 1

1234567891011121314
Across
  1. 3. This is used when money is deposited via the internet into the bank account of the business.
  2. 5. The contra account for cost of sales.
  3. 6. A ---- deposit is when money is deposited directly into the bank account by a customer
  4. 9. When a vehicle is bought cash, ----will increase and bank will decrease.
  5. 10. ---is used to draw cash.
  6. 12. The double entry principlae in accounting means that for every Debit there is a ---
  7. 13. this is equal to Assets minus liabilities
  8. 14. The source document when goods were bought and paid for via EFT
Down
  1. 1. Stationery is an -----account
  2. 2. A direct ----- is money put directly into the bank.
  3. 4. If an amount is paid on the loan, liabilities will ----
  4. 6. This account will increase when the owner pays with business money for his children goods.
  5. 7. Liabilities are categorised under two headings namely Long term and ---- liabilities
  6. 8. A debtor is a current ----- to the business
  7. 11. The General Ledger is divided into Balance sheet accounts and -----