7223277
Descripción
Test por Angelica Vannarath, actualizado hace más de 1 año
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Creado por Angelica Vannarath
hace casi 8 años
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Pregunta 1
Pregunta
Which of the following groups of accounts are increased with credits?
Respuesta
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Unearned Revenue, Accounts Payable, and Common Stock
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Land, Notes Receivable, and Prepaid Insurance
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Sales Revenue, Cash, and Equipment
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Rent Expense, Retained Earnings, and Interest Revenue
Pregunta 2
Pregunta
The recording rules of double-entry accounting related to assets, liabilities, and stockholders' equity accounts can be summarized as
Respuesta
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Debits increase asset accounts; credits decrease liability and stockholders' equity accounts
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Debits decrease asset accounts; credits increase liability and stockholders' equity accounts
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Debits decrease asset accounts; credits decrease liability and stockholders' equity accounts
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Debits increase asset accounts; credits increase liability and stockholders' equity accounts
Pregunta 3
Pregunta
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
Respuesta
Pregunta 4
Pregunta
Willard Company purchased $700 of supplies on account. A result of this transaction would be to
Respuesta
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Credit (right side of T-account) Cash
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Debit (left side of T-account) Accounts Receivable
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Credit (right side of T-account) Accounts Payable
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Credit (right side of T-account) Supplies
Pregunta 5
Pregunta
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?
Respuesta
Pregunta 6
Pregunta
Rupert Company provided $12,000 of services on account. Which of the following is the correct general journal entry to record this transaction?
Respuesta
Pregunta 7
Pregunta
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?
Respuesta
Pregunta 8
Pregunta
Which of the following best describes where you would find a chronological record of business transactions in the accounting records?
Respuesta
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General ledger
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General journal
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Chart of accounts
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Trial balance
Pregunta 9
Pregunta
Is the normal balance of the following accounts a debit or a credit?
Respuesta
Pregunta 10
Pregunta
Which of the following represents the closing general journal entry for Jarvis Company's revenue accounts?
Respuesta
Pregunta 11
Pregunta
What is the balance in Retained Earnings after the closing general journal entries are made? (Hint: Use T-accounts to arrive at your answer)
Respuesta
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$58,000
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$63,000
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$75,000
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$92,000
Pregunta 12
Pregunta
Prepare an adjusted trial balance for Everett Corporation at December 31, 2016, and determine the correct statement.
Respuesta
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The total debits equal $178,000.
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The total debits equal $206,000.
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The total debits equal $186,000.
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Equal debits and credits in the trial balance ensure that there are no errors in the accounting records.
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