Journalizing Accounting Entries! Trivia Questions Quiz

10 Questions
Settings
Please wait...
Journalizing Accounting Entries! Trivia Questions Quiz

For each of the transactions, state which accounts are affected. Each transaction involves at least two accounts but could be more.

More Financial Accounting Quizzes
Quiz: Test Your Knowledge On Financial Accounting
Principles Of Financial Accounting Quiz!
Acct 2301.02 Principles Of Financial Accounting Quiz
Featured Quizzes
Quiz: What Pokemon Type Best Suits Your Personality?
What U.S. City Should You Live In?
Will The Real Slim Shady Please Take The Quiz?
Related Topics
Questions and Answers
  • 1. 
    A new computer was purchased by paying 30 percent cash down and signing a banknote for the remainder.
    • A. 

      Cash/Notes Payable/Owner’s Equity

    • B. 

      Cash/Accounts Payable/Computer Equipment

    • C. 

      Cash/Notes Payable/Computer Equipment

  • 2. 
    Salaries for the month were paid from cash.
    • A. 

      Accounts Payable/Wages

    • B. 

      Cash/Salaries Expense

    • C. 

      Accounts Receivable/Salaries Expense

  • 3. 
    The owner withdrew cash for her personal use.
    • A. 

      Accounts Receivable/Cash

    • B. 

      Cash/Owner Withdraw

    • C. 

      Cash/Notes Payable

  • 4. 
    Office supplies were purchased on account.
    • A. 

      Office Supplies/Cash

    • B. 

      Office Supplies/Accounts Receivable

    • C. 

      Office Supplies/Accounts Payable

  • 5. 
    Sales charged to guests were placed on account.
    • A. 

      Sales/Accounts Receivable

    • B. 

      Sales/Accounts Payable

    • C. 

      Cash/Accounts Payable

  • 6. 
    Karyn’s Kraft Catering catered a party for $2,000. She received $500 cash and the remaining balance is placed on account. Chose the correct journal entry that best reflects this transaction. 
    • A. 

    • B. 

    • C. 

  • 7. 
    Kraft Catering purchased equipment on account for $125,000. Chose the correct journal entry that best reflects this transaction. 
    • A. 

    • B. 

    • C. 

  • 8. 
    Kraft Catering purchased $500 of beverages with cash upon delivery. Chose the correct journal entry that best reflects this transaction. 
    • A. 

    • B. 

    • C. 

  • 9. 
    Kraft Catering paid advertising bill of $1,500. Chose the correct journal entry that best reflects this transaction.
    • A. 

    • B. 

    • C. 

  • 10. 
    Kraft Catering received $600 cash for the catering party that was performed two months ago. Chose the correct journal entry that best reflects this transaction.
    • A. 

    • B. 

    • C. 

Back to top