Search Header Logo

Double Entry Concepts

Authored by Fathimath Lamha

Business

7th Grade

Used 1+ times

Double Entry Concepts
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

9 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the double entry to record a purchase of a computer by cash ?

Debit cash, credit purchases

Debit computer, credit bank

Debit purchases, credit cash

Debit computer, credit cash

2.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

When a sale is made, which accounts are impacted in double entry?

Sales account and Inventory account

Cash account and Equity account

Sales account and Accounts Receivable or Cash account

Revenue account and Accounts Payable account

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Describe the double entry for capital when the owner invests more money into the business.

Debit Capital, Credit Cash

Debit Capital, Credit Accounts Payable

Debit Capital, Credit Revenue

Debit Cash, Credit Capital

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens in double entry when a sales return is processed?

Debit Sales returns, credit trade receivables

Debit trade receivables, Credit Sales returns

Debit Sales, credit trade receivables

Debit trade receivables, Credit Sales

5.

MULTIPLE CHOICE QUESTION

45 sec • 1 pt

How are purchase returns recorded in double entry?

Debit Purchase Returns, Credit Accounts Payable

Debit Inventory, Credit Purchase Returns

Debit trade receivables, credit purchase returns

Debit trade Payable, Credit Purchase Returns

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Discuss the double entry for recording rent received by cash

Debit rent received, credit cash

Debit cash, credit rent received

Debit rent payable, credit cash

Debit rent received, credit bank

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Explain the double entry for expenses paid by cheque

Debit expenses, credit cash

Debit cash, credit expenses.

Debit bank, credit expenses

Debit expenses, credit bank

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?

Discover more resources for Business