7223277
Beschreibung
Quiz von Angelica Vannarath, aktualisiert more than 1 year ago
|
Erstellt von Angelica Vannarath
vor fast 8 Jahre
|
|
Frage 1
Frage
Which of the following groups of accounts are increased with credits?
Antworten
-
Unearned Revenue, Accounts Payable, and Common Stock
-
Land, Notes Receivable, and Prepaid Insurance
-
Sales Revenue, Cash, and Equipment
-
Rent Expense, Retained Earnings, and Interest Revenue
Frage 2
Frage
The recording rules of double-entry accounting related to assets, liabilities, and stockholders' equity accounts can be summarized as
Antworten
-
Debits increase asset accounts; credits decrease liability and stockholders' equity accounts
-
Debits decrease asset accounts; credits increase liability and stockholders' equity accounts
-
Debits decrease asset accounts; credits decrease liability and stockholders' equity accounts
-
Debits increase asset accounts; credits increase liability and stockholders' equity accounts
Frage 3
Frage
Hilliard Company experienced an accounting event that was recorded in the company's general journal as indicated below:
Debit Credit
Cash 43,000
Accounts Receivable 43,000
Antworten
Frage 4
Frage
Willard Company purchased $700 of supplies on account. A result of this transaction would be to
Antworten
-
Credit (right side of T-account) Cash
-
Debit (left side of T-account) Accounts Receivable
-
Credit (right side of T-account) Accounts Payable
-
Credit (right side of T-account) Supplies
Frage 5
Frage
Hanover Company paid $3,600 cash in advance for a one-year insurance policy starting on October 1, 2016. Which of the following is the correct adjusting journal entry to record the portion of insurance used up through December 31, 2016?
Antworten
Frage 6
Frage
Rupert Company provided $12,000 of services on account. Which of the following is the correct general journal entry to record this transaction?
Antworten
Frage 7
Frage
On December 1, 2016, King Company collected $26,000 of cash in advance from a customer for services to be provided from January 1, 2017 through June 30, 2017. Which of the following is the correct general journal entry to record this transaction?
Antworten
Frage 8
Frage
Which of the following best describes where you would find a chronological record of business transactions in the accounting records?
Antworten
-
General ledger
-
General journal
-
Chart of accounts
-
Trial balance
Frage 9
Frage
Is the normal balance of the following accounts a debit or a credit?
Antworten
Frage 10
Frage
Which of the following represents the closing general journal entry for Jarvis Company's revenue accounts?
Antworten
Frage 11
Frage
What is the balance in Retained Earnings after the closing general journal entries are made? (Hint: Use T-accounts to arrive at your answer)
Antworten
-
$58,000
-
$63,000
-
$75,000
-
$92,000
Frage 12
Frage
Prepare an adjusted trial balance for Everett Corporation at December 31, 2016, and determine the correct statement.
Antworten
-
The total debits equal $178,000.
-
The total debits equal $206,000.
-
The total debits equal $186,000.
-
Equal debits and credits in the trial balance ensure that there are no errors in the accounting records.
Möchten Sie mit GoConqr kostenlos Ihre eigenen Quiz erstellen? eigenen Mehr erfahren.