Acct 1101 Ch 13 Flashcard

Front

In accounting, debit represents…

Back

Left

Front

What is the normal balance of an account?

Back

How the account in increased

Front

What is the normal balance of Accounts Receivable? Options: Debit, Credit

Back

Debit

Front

What is the normal balance of Sales Revenue?

Back

Credit

Front

How is the Accounts Payable balance increased? Options: Debit, Credit

Back

Credit

Front

Source documents could include all of the following except: cash register tapes, time cards, deposit slips.

Back

these are all source documents

Front

Which of the following is true regarding accounting journals? Options: All entries are recorded in the general journal only., Entries that are recorded in a special journal must also be recorded in the general journal., Companies must use special journals., Companies may use a general journal only.

Back

Companies may use a general journal only.

Front

Which of the following is true?
Options: Entries must be recorded in the ledger first, and then in the journal., The general ledger is a chronological listing of the company's transactions., The general ledger organizes accounting information by account., A listing of all of the account balance is know as a chart of accounts.

Back

The general ledger organizes accounting information by account.

Front

Which of the following is a temporary account? Salaries payable, Cash, Salaries expense, Common stock

Back

Salaries expense

Front

An adjusted trial balance is prepared after the closing entries have been made. True or False?

Back

False