
Accounting II - Unit 1 Test
Quiz
•
Business
•
9th Grade
•
Practice Problem
•
Hard
Conner Buddington
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35 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the transaction BOUGHT SUPPLIES ON ACCOUNT FROM WAKE SUPPLY CO., the source document is a/an:
memorandum.
check stub.
invoice.
receipt.
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Accounts Payable/Douglas's Office Supplies, Accounts Payable/McKoy Equipment Company, and Accounts Payable/Sully Office Repair are all classified as:
assets
revenue
liabilities
owner's equity
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sally's Pools paid cash on account to Chem-Cycle Supply, $882; covering Purchase Invoice No. 2514 for $900, less a 2% discount, $18. The journal entry for Sally's Pools to record this transaction is:
debit Accounts Payable/Chem-Cycle Supply, $882; credit Cash, $882.
debit Accounts Payable/Chem-Cycle Supply, $900; credit Cash, $900.
debit Accounts Payable/Chem-Cycle Supply, $900; credit Purchase
Discount, $18, Cash, $882.
debit Purchases Discount, $18, Cash, $882; credit Accounts
Payable/Chem-Cycle Supply, $900.
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sammy's Clothes purchased merchandise on account from Polly's Warehouse for $246. The journal entry for Sammy's Clothes to record this transaction is:
debit Accounts Payable/Polly's Warehouse, $246; credit Purchases,
$246.
debit Accounts Receivable/Sammy's Clothes, $246; credit Purchases,
$246.
debit Purchases, $246; credit Accounts Payable/Polly's Warehouse,
$246.
debit Purchases, $246; credit Accounts Receivable/Polly's Warehouse,
$246.
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ben's Barbershop's balance sheet contains no inventory account. This company would be classified as a:
merchandising business
manufacturing business
construction business
service business
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Ashton discovered that a sale on account to Paula Company on March 10 for $750 was incorrectly charged to Paul Company. The journal entry to correct this error is:
debit Accounts Payable/Paul Company, $750; credit Accounts
Payable/Paula Company, $750.
debit Accounts Payable/Paula Company, $750; credit Accounts
Payable/Paul Company, $750.
debit Accounts Receivable/Paula Company, $750; credit Accounts
Receivable/Paul Company, $750.
debit Accounts Receivable/Paul Company, $750; credit Accounts
Receivable/Paula Company, $750.
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sunny Side Furniture received $250 cash from Vince Turner for payment on account. The journal entry for Sunny Side Furniture to record this transaction is:
debit Cash, $250; credit Sales, $250.
debit Sales, $250; credit Cash, $250.
debit Cash, $250; credit Accounts Receivable/Vince Turner, $250.
debit Accounts Receivable/Vince Turner, $250; credit Cash, $250.
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