Spring
Vacation
Holiday
Time Off
Freedom
100
What is the correct journal entry for the transaction, PAID CASH FOR INSURANCE, $400? A. Debit Insurance Expense and credit Cash B. Debit Prepaid Insurance and credit Cash C. Debit Cash and credit Prepaid Insurance D. Debit Cash and credit Insurance Expense
What is B. Debit Prepaid Insurance and credit Cash
100
What is the correct journal entry for the transaction, PAID CASH TO MARK JOHNSON, OWNER FOR PERSONAL USE, $900? A. Debit Cash and credit Mark Johnson, Capital B. Debit Cash and credit Mark Johnson, Drawing C. Debit Mark Johnson, Capital, and credit Cash D. Debit Mark Johnson, Drawing and credit Cash
What is D. Debit Mark Johnson, Drawing and credit Cash
100
What is the correct journal entry for the transaction, RECEIVED CASH ON ACCOUNT FROM BURKE SUPPLY FOR, $800? A. Debit Accounts Receivable/Burke Supply and credit Cash B. Debit Accounts Receivable/Burke Supply and credit Jane Smith, Capital C. Debit Cash and credit Accounts Receivable/Burke Supply D. Debit Cash and debit Accounts Receivable/Burke Supply
What is C. Debit Cash and credit Accounts Receivable/Burke Supply
100
What is the correct journal entry for the transaction, RECEIVED BIKE RENTAL FEES, $375? A. Debit Cash and credit Rental Fees B. Debit Miscellaneous Expense and credit Cash C. Debit Rental Fees and credit Cash D. Debit Rental Fees and credit Miscellaneous Expense
What is A. Debit Cash and credit Rental Fees
100
What is the correct entry for the transaction, PAID $150 FOR ADVERTISING? A. Credit Cash and credit Advertising Expense B. Debit Advertising Expense and credit Cash C. Debit Cash and credit Advertising Expense D. Debit Cash and credit Miscellaneous Expense
What is B. Debit Advertising Expense and credit Cash
200
What is the correct journal entry for the transaction, PAID THE GAS BILL, $125? A. Credit Cash and credit Equipment B. Debit Cash and credit Utilities Expense C. Debit Equipment and credit Cash D. Debit Utilities Expense and credit Cash
What is D. Debit Utilities Expense and credit Cash
200
What is the correct journal entry for the transaction, PAID CASH FOR REPAIRS, $95? A. Debit Cash and credit Miscellaneous Expense B. Debit Cash and credit Repair Expense C. Debit Miscellaneous Expense and credit Cash D. Debit Repair Expense and credit Cash
What is D. Debit Repair Expense and credit Cash
200
What is the correct journal entry for the transaction, RECEIVED CASH FROM OWNER DANA JACKSON AS INVESTMENT, $5000? A. Debit Cash and credit Dana Jackson, Capital B. Debit Cash and credit Dana Jackson, Drawing C. Debit Dana Jackson Capital and credit Cash D. Debit Miscellaneous Expense and credit Dana Jackson, Capital
What is A.Debit Cash and credit Dana Jackson, Capital
200
What is the correct journal entry for the transaction, RECEIVED CASH ON ACCOUNT FROM BILL'S LIMOS FOR, $500? A. Debit Accounts Receivable/Bills Limos and credit Cash B. Debit Accounts Receivable/Bill's Limos and credit Jane Smith, Capital C. Debit Cash and credit Accounts Receivable/Bill's Limos D. Debit Cash and debit Accounts Receivable/Bill's Limos
What is C. Debit Cash and credit Accounts Receivable/Bill's Limos
200
What is the correct journal entry for the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM JONES SUPPLY COMPANY, $250? A. Debit Accounts Payable/Jones Supply Company and credit Cash B. Debit Supplies and credit Accounts Payable/Jones Supply Company C. Debit Account Payable/Jones Supply Company and credit Supplies D. Debit Supplies and credit Cash
What is B. Debit Supplies and credit Accounts Payable/Jones Supply Company
300
What is the correct journal entry for the transaction, PAID CASH FOR COMPUTER PAPER? A. Debit Cash and credit Owner's Capital B. Debit Owner's Drawing and credit Cash C. Debit Miscellaneous Expense and credit Cash D. Debit Supplies and credit Cash
What is D. Debit Supplies and credit Cash
300
What is the correct journal entry for the transaction, PAID CASH TO REPAIR OFFICE EQUIPMENT, $250? A. Debit Cash and credit Miscellaneous Expense B. Debit Cash and credit Repair Expense C. Debit Miscellaneous Expense and credit Cash D. Debit Repair Expense and credit Cash
What is D. Debit Repair Expense and credit Cash
300
What is the correct entry for the transaction, HANS SCHMIDT INVESTED $2000 OF HIS OWN MONEY INTO THE BUSINESS? A. Debit HANS SCHMIDT, Capital and credit Cash B. Debit Miscellaneous Expense and credit HANS SCHMIDT, Capital C. Debit Cash and credit HANS SCHMIDT, Capital D. Debit Cash and credit Hans Schmidt, Drawing
What is C. Debit Cash and credit HANS SCHMIDT, Capital
300
A journal's column totals are General Debit, $500; General Credit, $200; Sales Credit, $350; Cash Debit, $1,000; Cash Credit, $950. This means that the: A. Cash debit column is incorrect. B. General credit column is incorrect. C. Journal does not prove. D. Journal proves.
What is D. Journal proves.
300
What is the correct journal entry for the transaction, PAID CASH FOR PRINTER CARTRIDGES? A. Debit Owner's drawing and credit Cash B. Debit Cash and credit Owner's Capital C. Debit Supplies and credit Cash D. Debit Miscellaneous Expense and credit Cash
What is C. Debit Supplies and credit Cash
400
What is the correct journal entry for the transaction, BOUGHT SUPPLIES ON ACCOUNT FROM STEINMAN COMPANY, $75? A. Debit Accounts Payable/Steinman Company and credit Cash B. Debit Accounts Payable/Steinman Company and credit Supplies C. Debit Supplies and credit Accounts Payable/Steinman Company D. Debit Supplies and credit Cash
What is C. Debit Supplies and credit Accounts Payable/Steinman Company
400
What is the correct journal entry for the transaction, PAID THE TELEPHONE BILL, $125? A. Debit Equipment and credit Cash B. Debit Utilities Expense and credit Cash C. Debit Cash and credit Equipment D. Debit Cash and credit Utilities Expense
What is B. Debit Utilities Expense and credit Cash
400
What is the correct journal entry for the transaction, PAID CASH FOR INSURANCE, $200? A. Debit Cash and credit Prepaid Insurance B. Debit Cash and credit Insurance Expense C. Debit Insurance Expense and credit Cash D. Debit Prepaid Insurance and credit Cash
What is D. Debit Prepaid Insurance and credit Cash
400
William has almost finished updating the Supplies account at the end of the month. He has transferred all of the information in the General Journal to the General Ledger. What is the LAST step for William to do? A. Balancing the journal. B. Proving cash. C. Record a new account balance. D. Record an account number in the journal.
What is D. Record an account number in the journal
400
What is the correct journal entry for the transaction, PAID CASH ON ACCOUNT TO VENDOR JONES SUPPLY, $1000? A. Debit Accounts Payable/Jones Supply and credit Cash B. Debit Cash and credit Accounts Payable/Jones Supply C. Debit Cash and credit Accounts Receivable/Jones Supply D. Debit Supplies and credit Cash
What is A. Debit Accounts Payable/Jones Supply and credit Cash
500
What is the correct journal entry for the transaction, PAID CASH FOR AN OFFICE DESK, $250? A. Debit Cash and credit Office Equipment B. Debit Cash and debit Office Equipment C. Debit Computer Supplies and credit Cash D. Debit Office Equipment and credit Cash
What is D. Debit Office Equipment and credit Cash
500
What is the correct journal entry for the transaction, RECEIVED CASH FROM SALES, $150? A. Debit Miscellaneous Expense and credit Sales B. Debit Sales and credit Cash C. Debit Cash and credit Sales D. Debit Cash and debit Sales
What is C.Debit Cash and credit Sales
500
What is the correct journal entry for the transaction PAID CASH FOR A DELIVERY (MISCELLANEOUS EXPENSE), $25? A. Debit Supplies and credit Miscellaneous Expense B. Debit Miscellaneous Expense and credit Cash C. Debit Cash and credit Miscellaneous Expense D. Debit Cash and credit Truck Expense
What is B. Debit Miscellaneous Expense and credit Cash
500
What is the correct journal entry for the transaction, PAID CASH ON ACCOUNT TO AVIS SUPPLY COMPANY, $500? A. Debit Cash and credit Owner's Capital B. Debit Accounts Receivable/Avis Supply Company and credit Cash C. Debit Accounts Payable/Avis Supply Company and credit Cash D. Debit Cash and credit Owner's Drawing
What is C. Debit Accounts Payable/Avis Supply Company and credit Cash
500
James discovered that a transaction for an Advertising Expense was journalized and posted in error as a debit to Miscellaneous Expense, $200. What is the entry to correct the error? A. Debit Advertising Expense, $200; credit Cash, $200 B. Debit Miscellaneous Expense, $200; credit Advertising Expense, $200 C. Debit Advertising Expense, $200; credit Miscellaneous Expense, $200 D. Debit Cash, $200; credit Advertising Expense, $200
What is C. Debit Advertising Expense, $200; credit Miscellaneous Expense, $200
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