General Journal

The double entry rules for General Journal - every transactions affects only one account.

• True

• False

The double entry rules for General Journal - at least one debit and one credit,

• True

• False

The double entry rules for General Journal - total debit will not be equal to the total credit.

• True

• False

The double entry rules for General Journal - the particulars in the account refer to the amount of the account where the entry is recorded.

• True

• False

Rules of General Journal of an Assets Account-

Increases (+) on Debit side, Decreases (-) on Credit side

• True

• False

Rules of General Journal of an Expenses Account-

Decreases (-) on Debit side, Increases (+) on Credit side

• True

• False

Rules of General Journal of Owner’s Equity Account-

Increases (+) on Debit side, Decreases (-) on Credit side

• True

• False

Rules of General Journal of Liabilities Account-

Decreases (-) on Debit side, Increases (+) on Credit side

• True

• False

Rules of General Journal of Revenue Account-

Increases (+) on Debit side, Decreases (-) on Credit side

• True

• False

Rules of General Journal for Capital Account-

Increases (+) on Debit side, Decreases (-) on Credit side

• True

• False