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WorksheetsChpt 2 - Debit & Credit Review
Total questions: 16
Worksheet time: 9mins
Debit means...
Left
Right
Increase
Decrease
Credit means...
Left
Right
Increase
Decrease
Check 2 boxes- The Normal Balance of an Asset is...
Debit
Credit
Increase
Decrease
Check 2 boxes - Normal Balance of Liabilities is...
Debit
Credit
Increase
Decrease
Capital increases on the...
Debit side
Credit side
Expenses increase on the...
Debit side
Credit side
Which account is an Asset?
Accts Payable
Accts Receivable
Capital
Sales
Which account is a Revenue account?
Accts Payable
Accts Receivable
Capital
Sales
Pick 2 boxes - When a business pays rent, Cash is...
Debit
Credit
Increasing
Decreasing
Pick 2 boxes - When a business has Sales on account, Sales is...
Debit
Credit
Increasing
Decreasing
An Debit to Drawing is caused by...
Owner investing the company
Bought Supplies on account from vendor
Had Cash Sales
Owner took money for personal use
An Debit to an Expense is caused by...
Buying Insurance
Paying the rent
Buying Supplies with Cash
Owner took money for personal use
Which account name is NOT correct?
Prepaid Insurance
Accounts Payable
Sales
Miscellaneous Expense
Which account is a Contra account?
Utilities Expense
Accts Receivable-S.Lodes
Capital
Accts Payable-ACME Supplies
When Cash increases, and Acct Rec-S.Lodes decrease what transaction is occurring?
Had cash sales
Business had sales on account
Customer paid off his account
Owner invested money into business
How do you feel about your knowledge of Debits and Credit and your up-coming Chpt 2 test?
I totally got this!
Pretty sure I got this.
Little more practice and I'll be good.
I need to to Zoom with Mrs. Guida
