Accounting 1 Chapter 4 4.02 Exam Questions

Accounting 1 Chapter 4 4.02 Exam Questions

9th - 12th Grade

35 Qs

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Accounting 1 Chapter 4 4.02 Exam Questions

Accounting 1 Chapter 4 4.02 Exam Questions

Assessment

Quiz

Other

9th - 12th Grade

Hard

Created by

Cheryl Albright

Used 1+ times

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35 questions

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1.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The transaction RECEIVED A CHECK FOR LEGAL FEES would result in the journal entry:

debit Cash and credit Legal Fees-Expense

debit Cash and credit Legal Fees-Revenue

debit Legal Fees-Expense and credit Cash.

debit Miscellaneous Expense and

credit Legal Fees-Revenue.

2.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The correct journal entry for the transaction PAID CASH TO REPAIR OFFICE EQUIPMENT is:

debit Cash and credit Miscellaneous Expense

debit Cash and credit Repair Expense

debit Miscellaneous Expense and credit Cash

debit Repair Expense and credit Cash

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The correct journal entry for the transaction RECEIVED CASH ON ACCOUNT FROM BILL'S LIMOS is:

debit Accounts Receivable/Bill's Limos and credit Cash

debit Accounts Receivable/Bill's

Limos and credit Jane Smith, Capital.

debit Cash and credit Accounts Receivable/Bill's Limos

debit Cash and credit Jane Smith,

Capital.

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

D.

The correct journal entry for the transaction PAID THE TELEPHONE BILL is:

debit Equipment and credit Cash

debit Telephone Expense and credit Cash

debit Cash and credit Equipment

debit Cash and credit Equipment

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

ill James discovered that a transaction for Utilities Expense was journalized and posted in error as a debit to Repair Expense, $250. The entry to correct the error is:

debit Cash, $250; debit Utilities Expense, $250

.

debit Utilities Expense, $250; credit Cash, $250


debit Utilities Expense, $250; credit

Repairs Expense, $250.

debit Repair Expense, $250; credit

Utilities Expense, $250.

6.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The correct journal entry for the transaction PAID CASH ON ACCOUNT TO VENDOR JONES SUPPLY is:

debit Supplies and credit Cash

debit Cash and credit Accounts Payable/Jones Supply

debit Accounts Payable/Jones Supply and credit Cash

debit Cash and credit Accounts Receivable/Jones Supply

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

The correct journal entry for the

transaction PAID CASH FOR A DELIVERY (MISCELLANEOUS EXPENSE), is:

debit Supplies and credit Miscellaneous Expense

debit Miscellaneous Expense and credit Cash

debit Miscellaneous Expense and credit Cash

debit Cash and credit Truck Expense

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