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Knowledge Check: Double-entry Bookkeeping

Authored by Shekinah Debra

Other

University

Used 2+ times

Knowledge Check: Double-entry Bookkeeping
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11 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

During a lively accounting class, Oliver and Freya were tasked with balancing Rock 'n' Rolls' trial balance. To their surprise, the debit column totalled £237,568 while the credit column showed £387,500. Can you help them figure out the difference between these two columns?

DR 149,932

CR 149,932

DR 625,068

CR 625,068

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Imagine you're in a magical accounting class with Harry, Poppy, and Aarav. Would the following accounts typically have debit or credit balances within the trial balance? 1. Purchases returns

Credit

Debit

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Imagine you're running a lemonade stand with Rosie. Would the following account typically have a debit or credit balance in your trial balance? 2. Sales

Debit

Credit

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Arthur and Florence are planning a party and need to keep track of their expenses. Would the following account typically have a debit or credit balance in their trial balance? 3. Entertainment expense

Debit

Credit

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Chloe and James are playing an accounting game. Chloe asks, "James, in our trial balance game, would 'Sales returns' typically have a debit or credit balance?"

Debit

Credit

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Imagine you're the accountant for a magical candy shop run by Isla and Harry. Would the following account typically have a debit or credit balance in the trial balance? 6. Receivables ledger control

Debit

Credit

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Arthur is organizing a treasure hunt and needs to balance his treasure map! Can you help him figure out if the following accounts would typically be debit or credit balances within the trial balance? 7. Payables ledger control

Debit

Credit

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