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Worksheets

ch 3 review

Total questions: 34

Worksheet time: 17mins

Name
Class
Date
1.

Cash increases with a

a)

Debit

b)

Credit

2.

Capital Stock increases with a

a)

Debit

b)

Credit

3.

Notes Payable increases with a

a)

Debit

b)

Credit

4.

Office Supplies decreases with a

a)

Debit

b)

Credit

5.

Retained Earnings increases with

a)

Debit

b)

Credit

6.

Rent Expense decreases with a

a)

Debit

b)

Credit

7.

Dividends increase with a

a)

Debit

b)

Credit

8.

Sales Revenue increases with a

a)

Debit

b)

Credit

9.

Accounts Payable decreases with a

a)

Debit

b)

Credit

10.

Accounts receivable decreases with a

a)

Debit

b)

Credit

11.

Cash decreases with a

a)

Debit

b)

Credit

12.

Accounts Payable increases with a

a)

Debit

b)

Credit

13.

Notes Payable decreases with a

a)

Debit

b)

Credit

14.

Retained Earnings decreases with a

a)

Debit

b)

Credit

15.

Salaries expense decreases with a

a)

Debit

b)

Credit

16.

Consulting Revenue decreases with a

a)

Debit

b)

Credit

17.

Land increases with a

a)

Debit

b)

Credit

18.

Asset accounts have a positive (normal) balance of

a)

Debit

b)

Credit

19.

Liability accounts have a positive (normal) balance of

a)

Debit

b)

Credit

20.

Owner's Equity accounts have a positive (normal) balance of

a)

Debit

b)

Credit

21.

Revenue accounts have a positive (normal) balance of

a)

Debit

b)

Credit

22.

Expense Accounts have a positive balance of

a)

Debit

b)

Credit

23.

Net Income will increase Retained Earnings with a

a)

Debit

b)

Credit

24.

Net Loss will decrease Retained Earnings with a

a)

Debit

b)

Credit

25.

Dividends will ultimately decrease which account

a)

Revenue

b)

Retained Earnings

c)

Capital Stock

26.

Salaries Payable decrease with a

a)

Debit

b)

Credit

27.

Salaries payable decreases with a

a)

Debit

b)

Credit

28.

Telephone expense increases with a

a)

Debit

b)

Credit

29.

Consulting Revenue decreases with a

a)

Debit

b)

Credit

30.

Equipment decreases with a

a)

Debit

b)

Credit

31.

Net Income is equal to

a)

Revenue > Expenses

b)

Expenses > Revenue

32.

Net Loss is equal to

a)

Revenue > Expenses

b)

Expenses > Revenue

33.

The right side of a T account is called

a)

Debit side

b)

Credit side

34.

The left side of a T account is called

a)

The Debit side

b)

The Credit side