Accounting 1 - Chapter 2

Accounting 1 - Chapter 2

9th - 12th Grade

16 Qs

quiz-placeholder

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Accounting 1 - Chapter 2

Accounting 1 - Chapter 2

Assessment

Quiz

Other

9th - 12th Grade

Practice Problem

Easy

Created by

Rachel Nally

Used 22+ times

FREE Resource

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16 questions

Show all answers

1.

OPEN ENDED QUESTION

3 mins • Ungraded

Paid cash to the owner for personal use. What account is debited?

Evaluate responses using AI:

OFF

Answer explanation

Drawing

2.

OPEN ENDED QUESTION

3 mins • Ungraded

Received cash on account from Oakdale School. What account is debited?

Evaluate responses using AI:

OFF

Answer explanation

Cash

3.

OPEN ENDED QUESTION

3 mins • Ungraded

Paid cash for rent. What account is debited?

Evaluate responses using AI:

OFF

Answer explanation

Rent Expense

4.

OPEN ENDED QUESTION

3 mins • Ungraded

When $1,500 cash is received on account is Accounts Receivable increased or decreased?

Evaluate responses using AI:

OFF

Answer explanation

Decreased

5.

OPEN ENDED QUESTION

3 mins • Ungraded

Paid cash on account to Supply Depot. What is the credit?

Evaluate responses using AI:

OFF

Answer explanation

Cash

6.

OPEN ENDED QUESTION

3 mins • Ungraded

Bought supplies on account. What is the credit?

Evaluate responses using AI:

OFF

Answer explanation

Accounts Payable

7.

OPEN ENDED QUESTION

3 mins • Ungraded

Paid cash for supplies. What is the debit?

Evaluate responses using AI:

OFF

Answer explanation

Supplies

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