Accounting 1.02 VoCats

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Accounting 1.02 VoCats. Test Review. In the transaction, BILLED ANDERSON COMPANY FOR WORK COMPLETED, the source document is a/an:. Check Stub Invoice Memorandum Receipt ANSWER: B. In the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DIXON SUPPLY CO., the source document is a/an:. - PowerPoint PPT Presentation

Transcript of Accounting 1.02 VoCats

Accounting 1.02 VoCats

The transaction, SOLD SERVICES ON ACCOUNT TO BETH PARKER, would result in which journal entry?Debit Accounts Receivable/Beth Parker and credit CashDebit Accounts Receivable/Beth Parker and credit SalesDebit Cash and credit Accounts Receivable/Beth ParkerDebit Cash and credit SalesANSWER: BIn the transaction, BILLED ANDERSON COMPANY FOR WORK COMPLETED, the source document is a/an:Check StubInvoiceMemorandumReceiptANSWER: BIn the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DIXON SUPPLY CO., the source document is a/an:Check StubInvoiceMemorandumReceiptANSWER: BIn the transaction, RECEIVED CASH FROM OWNER AS AN INVESTMENT, the source document is a/an:Calculator TapeCheck StubInvoiceReceiptANSWER: DThe transaction, PAID CASH FOR MISCELLANEOUS EXPENSE, $400, would result in which journal entry?Debit Cash and credit Miscellaneous ExpenseDebit Cash and debit Miscellaneous ExpenseDebit Miscellaneous Expense and credit CashDebit Supplies and credit Miscellaneous Expense

ANSWER: CAssetsOwners Equity(CASH $$)CREDITMisc. Exp.DEBITThe transaction, PAID CASH FOR MISCELLANEOUS EXPENSE, $400, would result in which journal entry?AssetsOwners Equity(Accounts Receivable/ Beth Parker)DEBITREVENUECREDIT

The transaction, SOLD SERVICES ON ACCOUNT TO BETH PARKER, would result in which journal entry?The transaction, PAID CASH FOR ELECTRIC BILL (UTILITIES EXPENSE) would result in which journal entry?Debit Cash and credit Utilities ExpenseDebit Cash and credit Ted Bright, DrawingDebit Ted Bright, Drawing and credit CashDebit Utilities Expense and credit CashANSWER: DAssetsOwners Equity(CASH $$)CREDITUtilities Exp.DEBITThe transaction, PAID CASH FOR ELECTRIC BILL (UTILITIES EXPENSE) would result in which journal entry?AssetsOwners Equity(CASH $$)CREDITRent Exp.DEBITThe transaction, PAID CASH FOR RENT, would result in which journal entry?AssetsAssets(CASH $$)CREDITPrepaid InsuranceDEBITThe transaction, PAID CASH FOR INSURANCE, would result in which journal entry?AssetsLiability(Supplies)DEBITActs Pay.CREDITThe transaction, BOUGHT SUPPLIES ON ACCOUNT FROM DAVIS SUPPLY STORE, would result in which journal entry?AssetsOwners Equity(CASH $$)DEBITREVENUECREDITThe transaction, RECEIVED A CHECK FOR $2500 FOR LEGAL FEES, would result in which journal entry?AssetsOwners Equity(CASH $$)DEBITThe transaction, RECEIVED CHECK FROM FRANK HARPER, OWNER, AS AN INVESTMENT, would result in which journal entry?CREDITAssetsAssets(CASH $$)DEBITAccounts Rec.CREDITThe transaction, RECEIVED CHECK FROM PARKER, INC., IN PAYMENT ON ITS ACCOUNT, would result in which journal entry?