Accounting Ch 5-8

A columnar form used to summarize general ledger information needed to prepare financial statements is

• a balance sheet
• a trial balance
• a work sheet
• an income statement

All general ledger account titles are listed on

• a balance sheet
• a trial balance
• an income statement
• a post closing trial balance 

A business form ordering a bank to pay cash from a bank account is a

• signature card
• deposit slip
• check
• none of these 

Each time cash or checks are placed in a bank account, the customer prepares a 

• signature card
• deposit slip
• check
• none of these

The entry to establish a $200 petty cash fund is

• debit cash, $200; credit Petty Cash, $200
• debit Misc Expense, $200; credit Cash, $200
• debit Petty Cash, $200; credit Cash, $200
• debit Petty Cash, $200; credit Misc Expense, $200

The ____ accounts are the assets, liabilities, and owner's equity accounts.

• Income Statement
• Balance Sheet

The difference between total revenue and total expenses when total revenue is greater is called

• net income
• net loss
• profit
• earnings 

An endorsement on the back of the check consisting only of a signature is

• a blank endorsement 
• a special endorsement
• a restrictive endorsement
• an incorrect endorsement 

An endorsement on the back of a check consisting of the words "Pay to the order of" and a new check owner's name is a 

• blank endorsement
• special endorsement
• restrictive endorsement
• signature endorsement

The journal entry to adjust Supplies is 

• debit SUpplies; credit Supplies Expense 
• debit Supplies Expense; credit Supplies
• debit Income Summary; credit Supplies
• debit Supplies Expense; credit Income Summary