
Recording financial transactions
Authored by Nermeen Abdalla
Business
University
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10 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Al Omari started a Buiness for furniture manufacturing, he deposited 20,000SAR in the bank and 30,000 SAR machinery.
what is the debit side?
Capital
Cash
Bank and machines
Capital, cash and machines
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Al Omari purchased a land for 100,000 SAR on credit.
what is the journal entry for this transaction?
Dr.Accounts payable
Cr. Land
Dr.land A/C
Cr. Accounts payable A/C
Dr. Cash A/C.
Cr. Land A/C
Dr. Land A/C
Cr. Bank A/C
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alomari purchased raw material from supplier 1 for 19,000 SAR.
the amount paid by cheque.
what is the entry for this transaction?
Dr. Purchases A/C
Cr. Cash A/C
Dr. Purchases A/C
Cr. Bank A/C
Dr. Sales A/C
Cr. Accounts payable A/C
Dr.Accounts receivable A/c
Cr. Sales A/C
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alomari hired 15 workers to work in the assembly line of furniture.
what is the debit side?
Workers
Assembly line
15
Not recorded in the accounting records.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alomari paid the salaries of the employees by cheque.
what is the effect of this transaction?
Decrease in assets, decrease in income.
Decrease in assets, decrease in expenses.
Decrease in assets, decrease in a liability
Decrease in assets, increase in expenses.
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alomari borrowed money from Samba bank and the amount is deposited in Alomari bank account.
what is the effect of this transaction?
Increase in assets, increase in liabilities.
Decrease in assets, decrease in liabilities.
Increase in liabilities, increase in Owner’s equity.
Increase in liabilities, decrease in income.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Alomari sold furniture to customer 1, for 25,000SAR and sent the invoice to him.
what is the entry of this transaction?
Dr. Sales A/C
Cr. Cash A/C
Dr. Bank. A/C
Cr. Sales A/C
Dr. Accounts receivables A/C
Cr. Sales. A/c
Dr. Purchases A/C
Cr. Accounts payable A/C
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