
Accounting Transactions Quiz
Authored by Mirasol Cormanes
Mathematics
11th Grade
Used 1+ times

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10 questions
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1.
OPEN ENDED QUESTION
15 mins • 10 pts
March 1, 2025 - Misoy General Merchandise starts with a capital investment. Cash = 10,000 Owner's Equity = 10,000
Evaluate responses using AI:
OFF
2.
OPEN ENDED QUESTION
15 mins • 10 pts
March 2, 2025 - Bought merchandise inventory worth 5,000 on credit. Inventory = 5,000 Accounts Payable = 5,000
Evaluate responses using AI:
OFF
3.
OPEN ENDED QUESTION
15 mins • 10 pts
March 3, 2025 - Sold merchandise worth 2,000 on credit (cost of goods sold = 1,200). Accounts Receivable = 2,000 Sales Revenue = 2,000 Cost of Goods Sold = 1,200 Inventory = 1,200 (Reduction of inventory for the goods sold)
Evaluate responses using AI:
OFF
4.
OPEN ENDED QUESTION
15 mins • 10 pts
March 4, 2025 - Paid 500 for utility expenses. Utility Expense = 500 Cash = 500
Evaluate responses using AI:
OFF
5.
OPEN ENDED QUESTION
15 mins • 10 pts
March 5, 2025 - Paid 1,500 to suppliers for inventory purchased on March 2. Accounts Payable = 1,500 Cash = 1,500
Evaluate responses using AI:
OFF
6.
OPEN ENDED QUESTION
15 mins • 10 pts
March 6, 2025 - Received 1,800 from customers on account (Accounts Receivable). Cash = 1,800 Accounts Receivable = 1,800
Evaluate responses using AI:
OFF
7.
OPEN ENDED QUESTION
15 mins • 10 pts
March 7, 2025 - Purchased office supplies for 300 on credit. Office Supplies = 300 Accounts Payable = 300
Evaluate responses using AI:
OFF
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