WHICH OF THE FOLLOWING ARE NOT ASSET ACCOUNTS?
ACCOUNTS PAYABLE
SALES
PREPAID INSURANCE
ACCOUNTS RECEIVABLE
CASH
ADVERTISING EXPENSE
RENT EXPENSE
100
RESTRICTIVE ENDORSEMENT
What is THE TYPE OF ENDORSEMENT THAT SAYS "FOR DEPOSIT ONLY"?
100
BALANCE SHEET CREDIT COLUMN
ON A WORKSHEET, THE BALANCE OF THE OWNER'S CAPITAL ACCOUNT IS EXTENDED TO THE?
100
VALUE OF INSURANCE USED DURING THE FISCAL PERIOD
AFTER THE ADJUSTING ENTRY FOR PREPAID INSURANCE HAS BEEN POSTED, INSURANCE EXPENSE HAS AN UP-TO-DATE BALANCE THAT IS?
200
POSTING
What is THE PROCEDURE FOR TRANSFERRING INFORMATION FROM A JOURNAL ENTRY TO A GENERAL LEDGER ACCOUNT ?
200
DEBIT SIDE
THE NORMAL BALANCE OF ANY EXPENSE ACCOUNT IS?
200
DEBIT PETTY CASH, CREDIT CASH
What is THE ENTRY TO ESTABLISH A PETTY CASH FUND?
200
INCOME STATEMENT CREDIT COLUMN
ON A WORKSHEET, THE BALANCE OF SALES IS EXTENDED TO THE?
200
DEBIT SALES, CREDIT INCOME SUMMARY
What is CLOSING ENTRY FOR SALES?
300
ENTERING THE DATE
What is THE FIRST STEP IN THE POSTING PROCEDURE?
300
CREDIT
THE NORMAL BALANCE OF ANY LIABILITY ACCOUNT IS?
300
DEPOSIT SLIP
What is THE SLIP USED TO PUT MONEY INTO A BANK?
300
INCOME STATEMENT CREDIT; BALANCE SHEET DEBIT
A NET LOSS IS ENTERED IN THE WORKSHEET'S?
300
CREDIT EXPENSES, DEBIT INCOME SUMMARY
What is CLOSING ENTRY FOR EXPENSES?
400
ENTERING THE POST REFER NUMBER INTO THE JOURNAL
What is THE LAST STEP IN THE POSTING PROCEDURE?
400
THAT IT IS LOCATED IN THE EXPENSES DIVISION OF THE GENERAL LEDGER
What DOES THE FIRST DIGIT IN THE ACCOUNT NUMBER 510 MEAN?
400
MONTHLY
WHEN IS PETTY CASH REPLENISHED?
400
INCOME STATEMENT DEBIT, BALANCE SHEET CREDIT
A NET INCOME IS ENTERED IN THE WORKSHEET'S?
400
DEBIT INCOME SUMMARY; CREDIT OWNER'S CAPITAL
What is THE CLOSING ENTRY FOR INCOME SUMMARY WHEN THERE IS A NET INCOME?
500
SALES CREDIT; CASH DEBIT
What is THE ENTRY WHEN CASH IS RECEIVED FROM SALES
500
ASSETS=LIABILITIES+OWNER'S EQUITY
What is THE ACCOUNTING EQUATION?
500
$5,275
What is CASH ACCOUNT BALANCE IF THE BANK STATEMENT SHOWS A CHECKING ACCOUNT BALANCE OF $5,800. THERE ARE OUTSTANDING CHECKS TOTALING $1000, AN OUTSTANDING DEPOSIT OF $500, AND A BANK SERVICE CHARGE OF $25?
500
NET INCOME DIVIDED BY TOTAL SALES
What is THE NET INCOME RATIO?
500
ZERO
What is THE BALANCE OF ALL TEMPORARY ACCOUNTS AT THE BEGINNING OF THE FISCAL PERIOD?