Fill in the Blanks True or False

1 General ledger 1 1
2 Identification 2 1
3 Journal Enrty 3 1
4 Asset 4 1
5 Journal 5 1
6 Accounting Cycle 6 1
7 Chart of Account 7 1
8 Trial Balance 8 1
9 Fiscal 9 1
10 Journalizing 10 0
11 Transposition Error 11 0
12 Posting 12 0
13 General Journal 13 1
14 Reference Book 14 1
15 Financial Report 15 0
16 Asset 16 1
17 debit, credit 17 1
18 Compound Entry 18 1
19 Asset 19 1
20 1
21 0
22 0
23 0
24 0
25 1
26 1
27 1
Multiple Choice 1 Multiple Choice 2 Multiple Choice 3
1B 1
1B 2B 2
2D 3B 3
3A 4C 4
4C 5B 5
5D 6A 6
6A 7B 7
7C 8D 8
8A 9D 9
9B 10 D 10
10 A 11 B 11
11 12 C 12
13 D 13
14 A 14
15 A 15
16 C 16
17 D 17
18 D 18
19 D 19
20 B 20
21 D 21
22 A 22
23 D 23
24 B 24
25 D 25
26
27
28
Multiple Choice 3
D
A
B
D
A
D
C
B
A
D
D
C
C
C
B
D
D
D
C
D
D
D
D
B
A
C
A
A
 Problem#6 Developong a Chart of Accounts and Recording Transaction in T-Accounts

Chart of Accounts

Balance Sheet Accounts Income Statement Accounts

Asset Income

Cash 27,700.00 Portrait Revenue 20,400.00

A/R 22,500.00 20,400.00
Photography Supplies 21,000.00
Photography Equipment 258,000.00
329,000.00

Liabilities Expenses

A/P 10,500.00 Rent Expense 40,500.00

Unearned Revenue 22,500.00 Utilities expense 5,700.00
33,000.00 Salaries Expense 12,000.00
58,200.00

Owner's Equity

Magpantay,Capital 350,000.00
Magpantay, Drawings 16,000.00
366,000.00

T- Accounts

CASH Magpantay, Capital

1.) 350,000.00 40,500.00 3.) 350,000.00 1.)
13.) 11,400.00 129,000.00 5.)
28.) 7500 75,000.00 10.)
30.) 1500 54,000.00 8.)
10,500.00 19.)
3,600.00 25.)
2,100.00 26.) Salaries Expense
12,000.00 29.) 29.) 12,000.00
16,000.00 31.)
370,400.00 342,700.00
27,700.00

Photography Supplies Accounts Receivable

12.) 21,000.00 22,500.00 17.)
ment Accounts

Magpantay, Withdrawals Accounts Payable

31.) 16,000.00 19.) 10,500.00 21,000.00 12.)
10,500.00
 Rent Expense Utilities expense
3.) 40,500.00 25.) 3,600.00
26.) 2,100.00
5,700.00

Photography Equipment Portrait Revenue

11,400.00 13.)
5.) 129,000.00 7,500.00 28.)
10.) 75,000.00 1,500.00 30.)
8.) 54,000.00 20,400.00
258,000.00

Unearned Revenue
17.) 22,500.00