WorksheetsAccounting System
Total questions: 10
Worksheet time: 5mins
A purchase of supplies for cash is recorded in the
cash payments journal
cash receipts journal
purchases journal
revenue journal
A purchase of supplies on account is recorded in the
revenue journal
general journal
purchases journal
cash payments journal
Which of the following transactions is recorded in the purchases journal?
purchase of store supplies on account
purchase of store supplies for cash
purchase of office equipment for cash
return of damaged office equipment
Which of the following is recorded in the cash receipts journal?
cash withdrawn by the owner
cash purchase of equipment
cash received on customer's account
adjusting entry for depreciation
Services performed for cash should be recorded in the
revenue journal
purchases journal
cash receipts journal
cash payments journal
Which of the following is not considered a special journal?
purchases journal
cash receipts journal
general journal
cash payments journal
Which of the following general ledger accounts normally has a subsidiary ledger?
Capital Stock
Supplies
Retained Earnings
Accounts Payable
Once an accounting system has been implemented, feedback will be used to continuously analyze and improve the system.
True
False
In computerized accounting systems, reports may be generated at any time.
True
False
Beachside Coffee Shop, in an effort to streamline its accounting system, has decided to utilize a cash receipts journal in its operations. If the company records the cash sale of food for $18, which is the correct entry?
Cash Cr., $18; Food Revenue Dr., $18
Cash Dr., $18; Food Revenue Dr., $18
Cash Dr., $18; Food Revenue Cr., $18
Cash Cr., $18; Food Revenue Cr., $18
