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WorksheetsAnalyzing Transactions in Accounting
Total questions: 10
Worksheet time: 7mins
The normal balance of an account is always on the...
Left side
Right side
side that is increasing
side that is decreasing
If the asset account balance is $250,000 and the liabilities account balance is $50,000. What is the owner's equity balance? (ALOE)
$25,000
$200,000
$50,000
$300,000
A chart of accounts is a list of all accounts in a business.
True
False
Is this Cash in Bank balance correct?
Yes
No
Accountants use what kind of system to analyze and record transactions?
Google sheets
Journal
Double entry accounting
Artificial Intelligence
Assets = (a) + Owner's Equity
Accounts Payables are Liabilities?
True
False
Accounts Receivable are considered an Asset?
True
False
In accounting "on account" means..
on credit
paid cash
paid with a check
five finger discount
For a T-Chart Debit is on the left and credit is on the right.
True
False
