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Accounting Chapter 10, 11e

Authored by Heather Pipech

Business

9th - 12th Grade

Used 5+ times

Accounting Chapter 10, 11e
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15 questions

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1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which journal would this transaction be recorded:  Sold merchandise on Account to Sugar Sweet Bakery. 

Sales Journal 
General Journal 
Cash Payments Journal 
Cash Receipts Journal 

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which journal would this transaction be recorded in:  Recorded cash and credit card sales, plus sales tax.

Sales Journal 
Cash Payments Journal 
Cash Receipts Journal 
General Journal 

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What would be the credit part of this transaction?  Received cash on account from Bob Smith. 

Cash 
Sales 
Sales Discount 
Accounts Receivable

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

What would be the debit part of this transaction?  Recorded cash and credit card sales, plus sales tax. 

Cash 
Sales 
Sales Returns and Allowances 
Sales Tax Payable 

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

An account that reduces a related account on the financial system is a: 

Special Account 
Contra Account 
Nonexistent Account 
Cash Account 

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

After the cash receipts journal is proved at the end of the month, cash is proved. 

True 
False 

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Sales tax rates are usually stated as a percentage of sales. 

True 
False 

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