What is the corresponding relationship when customers advance money by bank deposits?

Assets increase - Assets decrease

Liabilities increase - Liabilities decrease

Assets decrease - Liabilities decrease

Assets increase - Liabilities increase

What is the corresponding relationship when advancing goods for cash to the seller?

Assets increase - Assets decrease

Liabilities increase - Liabilities decrease

Assets decrease - Liabilities decrease

Assets increase - Liabilities increase

What is the corresponding relationship when contributing capital with a fixed asset?

Assets increase - Assets decrease

Liabilities increase - Liabilities decrease

Assets decrease - Liabilities decrease

Assets increase - Liabilities increase

What is the corresponding relationship when purchasing raw materials without payment to the seller?

Assets increase - Assets decrease

Liabilities increase - Liabilities decrease

Assets decrease - Liabilities decrease

Assets increase - Liabilities increase

What is the corresponding relationship when goods are sent for sale?

Assets increase - Assets decrease

Liabilities increase - Liabilities decrease

Assets decrease - Liabilities decrease

Assets increase - Liabilities increase

How is the ending balance of accounts determined?

Ending balance = Beginning balance + Increases - Decreases

Ending balance = Beginning balance - Increases - Decreases

Ending balance = Beginning balance - Decreases + Increases

Ending balance = Beginning balance + Increases + Decreases

How is the ending balance of asset accounts determined?

Ending balance = Beginning balance + Debits - Credits

Ending balance = Beginning balance - Debits - Credits

Ending balance = Beginning balance + Debits - Credits

Ending balance = Beginning balance - Debits + Credits

How is the ending balance of liability accounts determined?

Ending balance = Beginning balance + Debits - Credits

Ending balance = Beginning balance - Debits - Credits

Ending balance = Beginning balance + Debits - Credits

How is the ending balance of the NV account determined?

Ending balance = Beginning balance - Debit + Credit

Ending balance = Beginning balance + Debit - Credit

Ending balance = Beginning balance - Debit - Credit

Ending balance = Beginning balance + Debit - Credit

Where can an increase in an account be recorded?

Debit side if it is an asset or expense account, Credit side if it is a liability or revenue account

Record the following transaction: 'Purchase of raw materials worth 50,000, VAT 10%, half paid by bank transfer, the remaining part not yet paid.'

Debit 'Raw Materials' 50,000 Debit 'Recoverable VAT' 5,000 Credit 'Bank' 27,500 Credit 'Accounts Payable' 27,500

Debit 'Raw Materials' 50,000 Debit 'Recoverable VAT' 5,000 Credit 'Bank' 25,000 Credit 'Accounts Payable' 25,000

Debit 'Raw Materials' 50,000 Debit 'Recoverable VAT' 5,000 Credit 'Bank' 55,000

Debit 'Raw Materials' 50,000 Debit 'Recoverable VAT' 5,000 Credit 'Accounts Payable' 55,000

Record the following transaction: 'Paying salary debt to employees from the previous period in cash 20,000.'

Debit 'Cash' 20,000 Credit 'Payable to Employees' 20,000

Debit 'Cash' 2000 Credit 'Payable to Employees' 2000

Debit 'Payable to Employees' 2000 Credit 'Cash' 2000

Debit 'Payable to Employees' 20,000 Credit 'Cash' 20,000

Record the following transaction: 'Supplementing the Reward Fund from undistributed profits 10,000.'

Debit 'Undistributed Profits' 10,000 Credit 'Reward Fund' 10,000

Debit 'Undistributed Profits' Credit 'Reward Fund'

Debit 'Reward Fund' 10,000 Credit 'Undistributed Profits' 10,000

Debit 'Reward Fund' 10,000 Credit 'Business Capital' 10,000

Record the following transaction: 'Receiving capital contribution in the form of a fixed asset worth 20,000.'

Debit 'Fixed Assets' 20,000 Credit 'Business Capital' 20,000

Debit 'Undistributed Profits' 20,000 Credit 'Fixed Assets' 20,000

Debit 'Fixed Assets' 20,000 Credit 'Capital Contribution' 20,000

Debit 'Fixed Assets' 2000 Credit 'Business Capital'

Record the following transaction: "Purchase of fixed assets paid in advance worth 20,000"

Debit Account "Fixed Assets" 20,000 Debit Account "VAT deductible" 2,000 Credit Account "Advance Payment" 22,000

Debit Account "Fixed Assets" 20,000 Credit Account "Cash" 20,000

Debit Account "Fixed Assets" 20,000 Credit Account "Advance Payment" 20,000

Debit Account "Advance Payment" 20,000 Credit Account "Cash" 20,000

Record the following transaction: "Cash advance for purchasing materials 50,000"

Debit Account "Advance Payment" 50,000 Credit Account "Cash" 50,000

Debit Account "Cash" 50,000 Credit Account "Advance Payment" 50,000

Debit Account "Materials" 50,000 Credit Account "Cash" 50,000

Debit Account "Materials" 50,000 Credit Account "Advance Payment" 50,000

Record the following transaction: "Customer paid in advance for goods via bank transfer 20,000"

Debit Account "Accounts Receivable" 20,000 Credit Account "Bank Deposit" 20,000

Debit Account "Accounts Payable" 20,000 Credit Account "Bank Deposit" 20,000

Debit Account "Bank Deposit" 20,000 Credit Account "Accounts Receivable" 20,000

Debit Account "Bank Deposit" 20,000 Credit Account "Accounts Payable" 20,000

Record the following transaction: "Advance payment for goods via bank transfer 20,000"

Debit Account "Accounts Receivable" 20,000 Credit Account "Bank Deposit" 20,000

Debit Account "Accounts Payable" 20,000 Credit Account "Bank Deposit" 20,000

Debit Account "Bank Deposit" 20,000 Credit Account "Accounts Receivable" 20,000

Debit Account "Bank Deposit" 20,000 Credit Account "Accounts Payable" 20,000

Record the following transaction: "Capital contribution in cash 20,000 and in bank deposit 10,000"

Debit Account "Bank Deposit" 20,000 Debit Account "Cash" 10,000 Credit Account "Business Capital" 30,000

Debit Account "Business Capital" 30,000 Credit Account "Cash" 10,000 Credit Account "Bank Deposit" 20,000

Debit Account "Bank Deposit" 20,000 Debit Account "Cash" 10,000 Credit Account "Capital Contribution" 30,000

Debit Account "Capital Contribution" 30,000 Credit Account "Cash" 10,000 Credit Account "Bank Deposit" 20,000

What is the accounting entry for withdrawing cash from the bank to pay salaries for employees 20,000?

Debit Account 'Payable to Employees', Credit Account 'Cash' 20,000

Debit Account 'Payable to Employees' 20,000, Credit Account 'Bank' 20,000

Debit Account 'Cash' 20,000, Credit Account 'Bank' 20,000

Debit Account 'Bank' 20,000, Credit Account 'Cash' 20,000

What is the accounting entry for exporting goods worth 20,000?

Debit Account 'Goods' 20,000, Credit Account 'Goods Sent for Sale' 20,000

Debit Account 'Goods Sent for Sale' 20,000, Credit Account 'Goods' 20,000

Debit Account 'Raw Materials' 20,000, Credit Account 'Goods Sent for Sale' 20,000

Debit Account 'Goods Sent for Sale' 20,000, Credit Account 'Finished Goods' 20,000

Which accounts are used for 'Goods purchased in transit from the previous period'?

Raw Materials, Goods in Transit

Which accounts are used for 'Short-term loan to repay short-term debt and pay taxes into the budget'?

Short-term Loan, Payable to Seller

Short-term Loan, Receivable from Customers

Short-term Loan, Payable to Seller

Which accounts are used for 'Using cash to repay short-term loans and pay taxes into the budget'?

Cash, Short-term Loan, VAT Payable

Cash, Short-term Loan, Taxes and Fees Payable to the Budget

Cash, VAT Deductible, Short-term Loan

Which accounts are used for 'Customer advances cash for goods'?

Cash, Advance Payment to Seller

What account is used when the customer pays in advance for goods in cash?

Cash, advance payment to the seller

Cash, receivable from customers

What account is used when the advance payment for goods to the seller is made in cash?

Buyer advances goods, bank deposit

Receivable from customers, bank deposit

What account is used when supplementing business capital from the development investment fund?

Business capital, development investment fund

Business capital, undistributed profit

Business contribution, development investment fund

Business contribution, undistributed profit

How does paying off debt to the seller in cash affect the balance sheet?

Assets decrease, liabilities unchanged

No effect on assets and liabilities

Assets increase, liabilities unchanged

Affects both assets and liabilities

How does the customer's advance payment for goods in cash affect the balance sheet?

Total assets and total liabilities both decrease

Total assets and total liabilities both increase

Total assets and total liabilities remain unchanged

How does disbursing cash advances to staff affect the balance sheet?

Total assets and total liabilities both decrease

Total assets and total liabilities both increase

Total assets and total liabilities remain unchanged

State the economic content of the transaction: Debit 'Tangible Fixed Assets' 20,000 / Credit 'Business Capital' 20,000

Receive capital contribution in tangible fixed assets worth 20,000

Bring tangible fixed assets to contribute capital worth 20,000

Tangible fixed assets are invested by business capital worth 20,000

Tangible fixed assets purchased for use worth 20,000

NLKT

Quiz

•

Other

•

University

•

Practice Problem

•

Hard

Nhi Yến

FREE Resource

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The item 'Buyer advances payment' belongs to:

Asset

Capital

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The reciprocal relationships learned are:

Asset increase - Asset decrease, Liability increase - Liability decrease, Asset decrease - Liability increase, Asset increase - Liability increase

Asset increase - Asset decrease, Liability increase - Liability decrease, Asset decrease - Liability decrease, Asset increase - Liability increase

Asset increase - Asset decrease, Liability increase - Liability decrease, Asset increase - Liability decrease, Asset decrease - Liability decrease

Create a free account and access millions of resources

Create resources

Host any resource

Get auto-graded reports

Continue with Google

Continue with Email

Continue with Classlink

Continue with Clever

or continue with

Microsoft

Apple

Others

By signing up, you agree to our Terms of Service & Privacy Policy

Already have an account?

Similar Resources on Wayground

111 questions

okayed

Quiz

•

University

117 questions

гмт1

Quiz

•

University

111 questions

Câu hỏi về tài chính p1

Quiz

•

University

116 questions

Quiz về Kế toán Quản trị

Quiz

•

University

116 questions

Ngân hàng và Tổ chức Tín dụng

Quiz

•

University

120 questions

cuối kì công nghệ 11

Quiz

•

11th Grade - University

110 questions

1-111

Quiz

•

University

110 questions

Câu hỏi về Marketing 1

Quiz

•

University

Popular Resources on Wayground

10 questions

Honoring the Significance of Veterans Day

Interactive video

•

6th - 10th Grade

9 questions

FOREST Community of Caring

Lesson

•

1st - 5th Grade

10 questions

Exploring Veterans Day: Facts and Celebrations for Kids

Interactive video

•

6th - 10th Grade

19 questions

Veterans Day

Quiz

•

5th Grade

14 questions

General Technology Use Quiz

Quiz

•

8th Grade

25 questions

Multiplication Facts

Quiz

•

5th Grade

15 questions

Circuits, Light Energy, and Forces

Quiz

•

5th Grade

19 questions

Thanksgiving Trivia

Quiz

•

6th Grade

Discover more resources for Other

20 questions

Definite and Indefinite Articles in Spanish (Avancemos)

Quiz

•

8th Grade - University

7 questions

Force and Motion

Interactive video

•

4th Grade - University

9 questions

Principles of the United States Constitution

Interactive video

•

University

18 questions

Realidades 2 2A reflexivos

Quiz

•

7th Grade - University

10 questions

Dichotomous Key

Quiz

•

KG - University

25 questions

Integer Operations

Quiz

•

KG - University

7 questions

What Is Narrative Writing?

Interactive video

•

4th Grade - University

20 questions

SER vs ESTAR

Quiz

•

7th Grade - University

NLKT

115 questions

Which account below is an asset?

Which account below is not an asset account?

Which account below is a source of capital?

Which account below is not a source of capital?

The item 'Advance payment to seller' belongs to:

The item 'Buyer advances payment' belongs to:

The reciprocal relationships learned are:

Paying off the previous salary of employees in cash belongs to which reciprocal relationship?

Receiving goods in transit from the previous period belongs to which reciprocal relationship?

Customers advance payment by bank deposit belongs to which reciprocal relationship?

Create a free account and access millions of resources

Similar Resources on Wayground

Popular Resources on Wayground

Discover more resources for Other