1) Double Entry means each transaction affects at least ________accounts. a) one b) two c) three d) no 2) Entries must include a _______ and a ________ a) left; right b) beginning; end c) debit; credit d) none of the above 3) A form for recording transactions in chronological order a) Entry b) Double entry c) journal d) journalizing 4) Recording transactions in a journal a) Entry b) Double entry c) journal d) journalizing 5) is applied when a source document is prepared for each transaction. a) objective evidence b) business entity c) journal d) monetary unit 6) A form describing the goods or services sold, the quantity price, and the terms of sale a) check b) sales invoice c) invoice d) memorandum 7) Determining that the amount of cash agrees with the accounting records a) check b) Proving Cash c) Proving debits and credits d) memorandum 8) Jan 5, Received cash from owner, Jenny Reed, $2,000. R1 What is the source document number? a) Jan 5 b) Debit: Cash c) Credit: General - Jenny Reed, Capital d) Credit: General - Jenny Reed, Drawing e) R 1 9) Jan 5, Received cash from owner, Jenny Reed, $2,000. R1 What would be the debit? a) Debit: General - Jenny Reed, Capital b) Debit: Cash c) Credit: General - Jenny Reed, Capital d) Credit: General - Jenny Reed, Drawing e) Credit: Cash 10) Jan 5, Received cash from owner, Jenny Reed, $2,000. R1 What would be the credit? a) Debit: General - Jenny Reed, Capital b) Debit: Cash c) Credit: General - Jenny Reed, Capital d) Credit: General - Jenny Reed, Drawing e) Credit: Cash 11) Jan 16, Paid cash to owner Jenny Reed) for a withdrawal of equity, $400. Check no 6. What would be the credit? a) Debit: General - Jenny Reed, Capital b) Debit: Cash c) Credit: General - Jenny Reed, Capital d) Credit: General - Jenny Reed, Drawing e) Credit: Cash 12) Jan 16, Paid cash to owner Jenny Reed) for a withdrawal of equity, $400. Check no 6. What would be the debit? a) Debit: General - Jenny Reed, Drawing b) Debit: Cash c) Credit: General - Jenny Reed, Capital d) Credit: General - Jenny Reed, Drawing e) Credit: Cash 13) Jan 16, Paid cash to owner Jenny Reed) for a withdrawal of equity, $400. Check no 6. What would be the source document? a) Jan 16 b) C 6 c) 400 d) Credit: General - Jenny Reed, Drawing e) Credit: Cash 14) A withdrawal __________ Owner's Equity? a) increases b) decreases c) not affected 15) What account title is used on the first line item of the 2nd page? a) Totals b) Carried Forward c) Brought Forward d) The name of the account

Bell Ringer: Chapter 3

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Trykke
Integrere

Rangliste

Visuel stil

Indstillinger

Skift skabelon

Gendan automatisk gemt: ?