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WorksheetsBusiness Transactions
Total questions: 10
Worksheet time: 5mins
What two accounts are involved when you receive cash from owner as an investment?
cash and capital
cash and investment
cash and bank
cash and supplies
Mikaela Mundt invested $2,000.00 of her own money in the business. What two accounts are affected?
Cash and Insurance
Cash and Prepaid Insurance
Cash and Investment
Cash and Capital
Purchased supplies for $68.00 from Southern Supplies on credit. What two accounts are affected?
cash and supplies
supplies and creditors
cash and creditors
cash and check
Wrote an $800.00 check to the owner as a withdrawal for personal use. What two accounts are affected?
Cash and Capital
Cash and Drawings
Cash and creditors
Drawings and Bank
Identify which type of account is affected: Paid liabilities worth $53,000?
Assets and Liabilities
Assets and Capital
Owner's Equity
Assets
Identify which type of account is affected: The business purchase office supplies on account?
Assets and Liabilities
Assets and Capital
Capital and Supplies
Assets and Purchasing
Identify which type of account is affected: Purchased equipment at $20,000 for cash.
Assets and Liabilities
Assets and Capital
Owner's Equity
Assets
Identify which type of account is affected: The owner withdrew supplies worth $5,000.
Assets and Liabilities
Assets and Capital
Capital and Liability
Liability and Capital
Identify which type of account is affected: Paid $340 cash for this month’s utility bill.
Assets and Liabilities
Assets and Capital
Assets and Cash Account
Capital and Liabilities
The purchase of a desk on account will increase Office Furniture and will also increase?
Cash in Bank
Creditors
Debtors
Capital
