General Journal & Ledger
Authored by Melinda Grummet
Financial Education
11th Grade
Used 8+ times
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30 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Cash, Debtors (Accounts receivable) & Land are what type of accounts?
Assets (Dr)
Liabilities (Cr)
Expenses (Dr)
Equity (Cr)
Revenue (Cr)
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Loans, Creditors (Accounts payable) & Bank overdraft are what type of accounts?
Assets (Dr)
Liabilities (Cr)
Expenses (Dr)
Equity (Cr)
Revenue (Cr)
3.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Wages, Rent & Telephone are what type of accounts?
Assets (Dr)
Liabilities (Cr)
Expenses (Dr)
Equity (Cr)
Revenue (Cr)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Sales, Fees received & interest received are what type of accounts?
Assets (Dr)
Liabilities (Cr)
Expenses (Dr)
Equity (Cr)
Revenue (Cr)
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Capital is what type of account?
Assets (Dr)
Liabilities (Cr)
Expenses (Dr)
Equity (Cr)
Revenue (Cr)
6.
MULTIPLE SELECT QUESTION
45 sec • 1 pt
The owner introduced $30,000 into the business. Identify the two accounts affected
Capital (Eq)
Cash at Bank (A)
Accounts Receivable (A)
Loan (L)
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
The owner introduced $30,000 into the business. Identify the account that will record a credit transaction
Capital (Eq)
Cash at Bank (A)
Accounts Receivable (A)
Loan (L)
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