Search Header Logo

Basic Accounting Quiz Game

Authored by Kathleen Jose

Business

University

Used 31+ times

Basic Accounting Quiz Game
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

5 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Decrease in asset may

Decrease another asset

Decrease liabilities

Increase capital

Increase liabilities

2.

MULTIPLE CHOICE QUESTION

10 sec • 1 pt

Which of the following errors will cause a trial balance to be out of balance?

A journal entry was accidentally posted twice.

The bookkeeper forgot to journalize a transaction.

A credit was posted to an account as debit.

The bookkeeper forgot to post a journal entry to the ledger.

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

A company’s weekly payroll of P5,000 in a 5-day work week is paid on Fridays. Assume that the last day of the month falls on Wednesday. Which of the following is the required adjusting entry?

Debit Salaries Expense P2,000 and Credit Salaries Payable P2,000

Debit Salaries Payable P3,000 and Credit Salaries Expense P3,000

Debit Salaries Expense P3,000 and Credit Salaries Payable P3,000

Debit Salaries Payable P2,000 and Credit Salaries Expense P2,000

4.

FILL IN THE BLANK QUESTION

45 sec • 1 pt

At the beginning of the year, PICPA Calling Station had liabilities of P100,000 and owner’s equity of P96,000. If assets increased by P40,000 and liabilities decreased to P70,000. What was the owner’s equity at year-end?

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

If Accounts Payable has debit postings of P170,000, credit postings of P140,000, and a normal ending balance of P60,000, which of the following was its beginning balance?

P90,000 Cr.

P90,000 Dr.

P30,000 Cr

P30,000 Dr.

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?