Acct I - Obj 2.01

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:

• Journal proves
• Cash debit column is incorrect
• Journal does not prove
• General credit column is incorrect

What is the correct journal entry for the transaction, PAID CASH FOR REPAIRS, $95?

• Debit Cash and credit Miscellaneous Expense
• Debit Repair Expense and credit Cash
• Debit Cash and credit Repair Expense
• Debit Miscellaneous Expense and credit Cash

What is the correct journal entry for the transaction, PAID CASH FOR AN OFFICE DESK, $250?

• Debit Office Equipment and Credit Cash
• Debit Cash and credit Office Equipment
• Debit Cash and debit Office Equipment
• Debit Computer Supplies and credit Cash

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?

• Balancing the journal
• Proving cash
• Record a new account balance
• Record an account number in the journal

What is the correct journal entry for the transaction, PAID CASH FOR INSURANCE, $200?

• Debit Cash and credit Prepaid Insurance
• Debit Cash and credit Insurance Expense
• Debit Prepaid Insurance and credit Cash
• Debit Insurance Expense and credit Cash

What is the correct journal entry for the transaction, PAID CASH FOR PRINTER CARTRIDGES?

• Debit Owner's drawing and credit Cash
• Debit Supplies and credit Cash
• Debit Cash and credit Printer Cartridges
• Debit Owner's Equity and credit Printer Cartridges

What is the correct journal entry for the transaction, PAID CASH ON ACCOUNT TO VENDOR JONES SUPPLY, $1000?

• Debit Accounts Payable/Jones Supply and credit Cash
• Debit Cash and credit Accounts Payable/Jones Supply
• Debit Cash and credit Accounts Receivable/Jones Supply
• Debit Supplies and credit Cash

What is the correct journal entry for the transaction, RECEIVED CASH FROM SALES, $150?

• Debit Miscellaneous Expense and credit Sales
• Debit Sales and credit Cash
• Debit Cash and credit Sales
• Debit Sales and credit Cash

What is the correct journal entry for the transaction, RECEIVED CASH FROM SALES, $2500?

• Debit Cash and credit Accounts Payable
• Debit Accounts Payable and credit Cash
• Debit Sales and credit Sales
• Debit Cash and credit Sales

What is the correct entry for the transaction, PAID $150 FOR ADVERTISING?

• Debit Cash and credit Advertising Expense
• Debit Advertising Expense and credit Cash
• Credit Cash and credit Advertising Expense
• Debit Cash and credit Miscellaneous Expense