Journal Entry 1-10

Which of the following transactions would have no impact on stockholders' equity?

Net loss

Dividends to stock holders

Investment of cash by stockholders

Purchase of the land from the proceeds of bank loan

Correct! Wrong!

How much types a transaction has?

Four

Three

One

Two

Correct! Wrong!

The amount brought in by owner of the business should be credited to?

Owner Equity

All of the given options

Drawing

Cash

Correct! Wrong!

Sales made to Ahmed on credit should be debited to?

Cash

Account Receivable-Ahmed

Account Receivable

Sales

Correct! Wrong!

According to the rules of debit and credit for balance sheet accounts?

Increase in assets, liabilities and owner equity recorded by debit

Decrease in asset and liability are recorded by credit

Increase in asset and owner’s equity are recorded by debit

Decrease in liability and owner’s equity are recorded by debit

Correct! Wrong!

Of the following account types, which would be increased by a debit?

Assets and equity

Equity and revenues

Assets and expenses

Liabilities and expenses

Correct! Wrong!

Which of the following transactions occurs on daily basis in a large business organization?

Payment of suppliers

Purchaser of equipment

Credit sales

Payroll

Correct! Wrong!

All of the following are true regarding journal entries except?

Each journal entry should begin with a date

The debited account titles are listed first

Journal entries provide account balances

Journal entries show the effects of transactions

Correct! Wrong!

Transactions are initially recorded in the?

T Accounts

Accounting Equation

Book of Final Entry

Book of Original Entry

Correct! Wrong!

In which order does the Journal list transactions?

Decreasing

Alphabetical

Chronological

Increasing

Correct! Wrong!

Which of the following transactions would have no impact on stockholders' equity?

How much types a transaction has?

The amount brought in by owner of the business should be credited to?

Sales made to Ahmed on credit should be debited to?

According to the rules of debit and credit for balance sheet accounts?

Of the following account types, which would be increased by a debit?

Which of the following transactions occurs on daily basis in a large business organization?

All of the following are true regarding journal entries except?

Transactions are initially recorded in the?

In which order does the Journal list transactions?

Search