WorksheetsCASH & CREDIT TRANSACTIONS
Total questions: 8
Worksheet time: 4mins
What are the 2 ways that an owner can invest in his/her business?
Cash & Credit
Cash & Property
Cash & Owner's Equity
Cash & Assets
If a business buys furniture on credit, which 2 accounts are affected?
Cash in Bank & Furniture
Accounts Receivable & Furniture
Assets & Furniture
Accounts Payable & Furniture
A business issues a check to purchase a computer for $1,500, what is the transaction?
increase Accounts Payable - decrease Computers
increase Computers - decrease Cash
increase Cash - decrease Computers
increase Computers - decrease Accounts Payable
A sale on account affects which account?
Accounts Receivable
Accounts Payable
Owner's Equity
None of the above
In accounting, cash and checks are dealt with in the same manner.
True
False
Sometimes
Never
A automobile investment by an owner affects which accounts?
Property & Owner's Equity
Liabilities & Owner's Equity
Assets & Owner's Equity
Vehicles & Owner's Equity
Cash is always affected when the business makes purchases.
True
False
If Cash in Bank decreased, and Delivery Vehicles increased, what transaction happened?
The company sold a vehicle.
The company purchased a business vehicle.
The company sold a vehicle on account.
The company purchased a vehicle on account.
