Full stop quiz

Problem questions

100

Received cash from customer amounting 100000 as settlement of his payables

What is the debit and credit?

Debit: Cash - 100000

Credit Accounts Receivable - 100000

200

Receipt stamped paid with amount 500000 was not deducted in the payable yet

What is debit and credit?

Debit: accounts payable 500000

Credit: Cash 500000

300

Purchase office supplies for 8000 and laptop for 22,500, both on credit. 

What will be the debit and credit?

Debit: office supplies 8000

Debit: Equipment/Laptop 22,500

Credit: Accounts payable 30,500

400

Sold a unit of laptop on credit, 40000

Repaired a laptop urgently for 21000 pesos

What is the debit and credit?

Debit: accounts payable 40000

Credit: Sales 40000

Debit Cash 21000

Credit Service Rev 21000

500

Let's say that you prepaid 35000 for rent but in the the actual rent used is only 17500 as of December 31. 

What is the debit and credit?

Debit: Prepaid rent 17500

Credit Rent Expense 17500

Formulas and there uses

100

Assets = ?

Liabilities+ equity

200

Capital = ?

Current Assets - Current Liabilities

300

Net income = ?

= Revenue - Expenses

Name that account type (Normal)

100

Capital

Drawings

Owner's Equity 

200

Building

Land

Computer

Equipment 

(Assets) Debit 

300

Dividends Payable

Stockholders equity 

Sales

Services Expense

Liability

Equity

Revenue

Expense

400

Accounts Receivable

Accounts payable

(Assets) Debit 

(Liability) Credit

500

Freight in

Freight out

(Assets) Debit

(Expense) Credit