Midterm Quiz III Fundamentals of Accounting 1
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20 questions
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1.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 1: Started business with cash P95,000
What is the journal entry in debit side?
(a)
2.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 1: Started business with cash P95,000
What is the journal entry in credit side?
(a)
3.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 2: Furniture purchased for cash to be used in business P8,000
What is the journal entry in debit side?
(a)
4.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 2: Furniture purchased for cash to be used in business P8,000
What is the journal entry in credit side?
(a)
5.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 3: Purchased goods for cash P40,000
What is the journal entry in debit side?
(a)
6.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 3: Purchased goods for cash P40,000
What is the journal entry in credit side?
(a)
7.
FILL IN THE BLANKS QUESTION
1 min • 2 pts
January 4: Purchased goods on credit from Big Traders P57,000
What is the journal entry in debit side?
(a)
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