Chapter 2 Review - T-Account and Transactions

Place the correct transaction on the debit or credit side.

a

Sold Services on Account

Receive Cash on Account.

Drag two transactions to the correct side of the T-Account.

a

b

Bought Supplies on Account.

Paid Cash on Account.

Sold Services on Account.

Received Cash on Account.

Drag two transactions to the correct side of the T-Account.

a

b

Paid Cash on Account.

Received Cash on Account from West End. 

Sold Services on Account to West End.

Bought Supplies on Account.

Drag the transaction to the correct side of the T-Account.

a

b

Paid Cash .....

Received Cash ......

Sold Services on Account. 

Bought Supplies on Account.

Which two owner's equity accounts increase on the credit side of the T Account?

• Capital

• Drawing

• Expense

• Sales

Which two owner's equity accounts increase on the debit side of its T Account?

• Capital

• Drawing

• Expense

• Sales

Drag the correct account or transaction with the following categories.

Groups:

(a) Increase with a Debit

,

(b) Decrease with a Credit

,

(c) Increase with Credit

,

(d) Decrease with a Debit

• A.R. - Received Cash on Account.

• Accounts Payable
• Sales

• Capital

• Supplies

• Received Cash

• Paid Cash

• Prepaid Insurance

Drag two transactions to correct side of the T-account.

b

c

Bought Supplies on Account

Sold Services on Account.

Received Cash from Sales.

Drag the transaction to the correct T-account.

a

Received cash from owner as investment.

Paid cash for rent expense. 

Paid cash to owner for personal use.