WorksheetsAccounting 2.1-2.3
Total questions: 13
Worksheet time: 3mins
The tool used to help us analyze debits and credits
S accounts
accounting equation
T accounts
KFC accounts
The left side of a T account is always a(n)
debit
credit
balance
introvert
All assets have a normal balance
debit
credit
neither. It depends
both. It depends
The accounting equation is written to help with T account analysis and debit/credit recognition.
true
false
truncate
falsetto
Liabilities have a normal ___________ balance
debit
credit
variable
indeterminable
The normal balance side and increases are on the same side of all accounts
true
false
maybe??
Um...
The accounting equation must always balance after each transaction.
false
true
How many steps are there to analyze a transaction?
2
4
6
810
Paid Cash for supplies. What's the debit? What's the credit?
Debit= cash. Credit= supplies
Debit= accounts payable. Credit= Supplies
debit= supplies. Credit= supplies expense
debit= supplies. Credit= cash
A listing of all accounts is called a
account inventory
accounting file
chart of accounts
accounting
received cash from sales. What happens to cash?
cash goes down on the credit side
cash goes down on the debit side
cash goes up on the credit side
cash goes up on the debit side
What account keeps track of revenue?
expenses
Owner's Equity
Capital
Sales
If you pay rent, what happens?
Assets go down. Owner's Equity goes up
Liabilities go up. Owner's Equity goes up
Assets go down. Owner's Equity goes down
Liabilities go down. Assets go up.
