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WorksheetsADJUSTMENT ENTRIES
Total questions: 15
Worksheet time: 11mins
Depreciation on equipment is classified as (a) .
Expenses paid in advance is classified under (a) .
Unearned revenue is classified as (a) for the business.
Revenue was already performed but not yet received any cash is classified under (a) .
Accrued expense is also known as (a) .
Account to be contra to Depreciation expense is (a) .
Prepaid advertising has been used for the month.
What is the account to be credit?
Cash
Prepaid advertising
Advertising expense
Prepaid expense
Bad debt expense was RM500.
Which journal is correct?
Dr Bad debt expense RM500
Dr Account Receivable RM500
Cr Bad debt expense RM1,000
Cr Account Receivable RM1,000
Unearned barber service RM1,700 was already earned.
What is account to be debit?
Unearned barber service
Barber service
Bank
Unearned revenue
Accrued wages was RM2,490.
Which journal is correct?
Dr Wages expense RM2,490
Dr Accrued wages RM2,490
Cr Accrued wages RM2,940
Cr Wages expense RM2,940
Rent expense for the year still unpaid.
What is account to be debit?
Rent expense
Accrued expense
Accrued rent
Account Payable
Supplies on hand was RM1,500.
Which journal is correct?
Dr Supplies expense
Cr Supplies
Dr Supplies
Cr Supplies expense
Dr Supplies expense
Cr Prepaid supplies
Dr Supplies
Cr Prepaid supplies
Depreciation for Saloon Equipment was RM350 per year.
What is account to be credit?
Account Receivable
Account Payable
Depreciation expense
Accumulated depreciation
We need to change the word 'Expense' or 'Revenue' accordingly to the question.
TRUE
FALSE
Economic Entity assumption was the reason why the adjustment need to be record.
TRUE
FALSE
