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WorksheetsInventory and the Accounting equation
Total questions: 10
Worksheet time: 10mins
A credit sale of inventory will
Increase Assets and Increase A/C Receivable
Decrease Assets and Decrease A/C Receivable
Increase GST Payable
None of the Above
A cash sale of Inventory will
Decrease Inventory and Increase Bank and Decrease GST
Increase Assets; Increase Liabilities and Owners Equity
Increase Inventory and Decrease Bank and Increase GST
Increase Owners equity
Inventory Loss will
Increase assets, decrease liabilities and decrease Owners Equity
Increase assets, increase liabilities and decrease Owners Equity
Decrease assets, and decrease Owners Equity
Decrease assets, decrease liabilities and decrease Owners Equity
A purchase return will
Increase Inventory and Decrease Accounts Payable and GST
Decrease Inventory and Decrease Accounts Payable and GST
Decrease Inventory and Decrease Accounts Payable and Increase GST
Increase Inventory and Increase Accounts Payable and Decrease GST
A credit purchase of inventory will
Decrease Inventory and Decrease Accounts Payable and Increase GST
Increase Inventory and Decrease Accounts Payable and Increase GST
Increase Inventory and Increase Accounts Payable and Increase GST
Increase Inventory and Increase Accounts Payable and Decrease GST
A donation of inventory will
Increase Inventory and Increase Owners equity
Decrease Inventory and Decrease Bank
Decrease Inventory and Decrease Net Profit
Decrease Inventory and Increase Net Profit
A sales return of inventory will
Decrease Inventory and decrease Bank and GST
Decrease Inventory, decrease Accounts Receivable and decrease GST
Decrease Inventory, decrease Accounts Payable and decrease GST
Increase Inventory, decrease Accounts Receivable, decrease GST and decrease Owners Equity
Drawings of inventory will
Decrease Owners equity
Decrease Bank and Owners Equity
Decrease Inventory and Increase Owners equity
Decrease Inventory and Decrease Owners equity
An inventory Gain will
Decrease Inventory and Increase Owners equity
Increase Inventory and Increase Bank
Increase Inventory and Increase Owners equity
Decrease Inventory and Increase GST
Do you love Accounting?
Yes!
Why not?!
How would I say no!
Oh god Accounting is my life!
