2  Ha Le Ngoc

Nguyên lý kế toán*_Quản trị Marketing CLC

64B_AEP(123)_02
Nhà của tôi / Các khoá học của tôi / Nguyên lý kế toán*_Quản trị Marketing CLC 64B_AEP(123)_02
/ Chapter 2: THE RECORDING PROCESS / Quiz

Bắt đầu vào lúc Tuesday, 12 September 2023, 10:52 AM

Trạng thái Ðã xong
Kết thúc lúc Tuesday, 12 September 2023, 11:20 AM
Thời gian thực 28 phút 18 giây
hiện
Ðiểm 26,00/30,00
Ðiểm 8,67 trên 10,00 (87%)

Câu hỏi 1 An accountant has debited an asset account for $1,200 and credited a liability account
Sai for $500. What can be done to complete the recording of the transaction?
Ðạt điểm 0,00
trên 1,00 Select one:
Ðặt cờ a. Nothing further must be done
b. Debit another asset account for $700. 

c. Credit a different asset account for $700.

d. Debit an owner's equity account for $700.

The correct answer is: Credit a different asset account for $700.

Câu hỏi 2 An account will have a credit balance if the

Sai

Ðạt điểm 0,00 Select one:

trên 1,00
a. last transaction entered was a credit.
Ðặt cờ
b. first transaction entered was a credit.
c. debits exceed the credits. 

d. credits exceed the debits.

The correct answer is: credits exceed the debits.

Câu hỏi 3 On June 1, 2012, Portugal Inc. reported a cash balance of $12,000. During June,
Ðúng Portugal made deposits of $3,000 and made disbursements totalling $14,000. What is
Ðạt điểm 1,00 the cash balance at the end of June?
trên 1,00

Ðặt cờ Select one:

a. $1,000 credit balance
b. $15,000 debit balance

c. $1,000 debit balance 

d. $4,000 credit balance

The correct answer is: $1,000 debit balance

Câu hỏi 4 Devendra Banhart withdraws $600 cash from her business for personal use. The entry
Ðúng for this transaction will include a debit of $600 to
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. Owner’s Drawings. 

b. Salaries and Wages Expense.

c. Owner's Salaries Expense.
d. Owner’s Capital.

The correct answer is: Owner’s Drawings.

Câu hỏi 5 The normal balance of any account is the

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. left side.
Ðặt cờ
b. side which increases that account. 

c. right side.
d. side which decreases that account.

The correct answer is: side which increases that account.

Câu hỏi 6 An accountant has debited an asset account for $1,300 and credited a liability account
Ðúng for $500. Which of the following would be an incorrect way to complete the recording
Ðạt điểm 1,00 of the transaction?
trên 1,00

Ðặt cờ Select one:

a. Credit an asset account for $800.
b. Credit an owner's equity account for $800.

c. Credit another liability account for $800.

d. Debit an owner's equity account for $800. 

The correct answer is: Debit an owner's equity account for $800.

Câu hỏi 7 On October 3, Karl Schickele, a carpenter, received a cash payment for services
Ðúng previously billed to a client. Karl paid his telephone bill, and he also bought equipment
Ðạt điểm 1,00 on credit. For the three transactions, at least one of the entries will include a
trên 1,00

Ðặt cờ Select one:

a. credit to Notes Payable
b. credit to Owner’s Capital.
c. credit to Accounts Payable. 

d. debit to Accounts Receivable.

The correct answer is: credit to Accounts Payable.

Câu hỏi 8 At January 1, 2012, Alligator Industries reported owner’s equity of $130,000. During
Ðúng 2012, Alligator had a net loss of $30,000 and owner drawings of $15,000. At December
Ðạt điểm 1,00 31, 2012, the amount of owner’s equity is
trên 1,00

Ðặt cờ Select one:

a. $85,000. 

b. $100,000.
c. $115,000.
d. $145,000.

The correct answer is: $85,000.

Câu hỏi 9 Credits

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. increase both assets and liabilities
Ðặt cờ
b. decrease assets and increase liabilities. 

c. decrease both assets and liabilities

d. increase assets and decrease liabilities.

The correct answer is: decrease assets and increase liabilities.

Câu hỏi 10 At September 1, 2012, Promise Ring Co. reported owner’s equity of $136,000. During
Sai the month, Promise Ring generated revenues of $38,000, incurred expenses of
Ðạt điểm 0,00 $21,000, purchased equipment for $5,000 and withdrew cash of $2,000. What is the
trên 1,00 amount of owner’s equity at September 30, 2012?
Ðặt cờ
Select one:
a. $151,000
b. $156,000 

c. $153,000
d. $146,000

The correct answer is: $151,000

Câu hỏi 11 A debit is not the normal balance for which account listed below?
Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00 
a. d. Service Revenue
Ðặt cờ
b. Cash
c. Drawings

d. Accounts Receivable

The correct answer is: d. Service Revenue

Câu hỏi 12 During 2012, its first year of operations, Neko’s Bakery had revenues of $60,000 and
Ðúng expenses of $33,000. The business had owner drawings of $20,000. What is the
Ðạt điểm 1,00 amount of owner’s equity at December 31, 2012?
trên 1,00

Ðặt cờ Select one:

a. $0
b. $7,000 credit 

c. $18,000 debit
d. $27,000 credit

The correct answer is: $7,000 credit

Câu hỏi 13 In the first month of operations for Gallowsbird Industries, the total of the debit entries
Ðúng to the cash account amounted to $9,000 ($4,000 investment by the owner and
Ðạt điểm 1,00 revenues of $5,000). The total of the credit entries to the cash account amounted to
trên 1,00 $5,500 (purchase of equipment $2,000 and payment of expenses $3,500). At the end
Ðặt cờ of the month, the cash account has a(n)

Select one:
a. $1,500 debit balance.
b. $3,500 credit balance.
c. $3,500 debit balance. 

d. $1,500 credit balance.

The correct answer is: $3,500 debit balance.

Câu hỏi 14 During February 2012, its first month of operations, the owner of Ariel Pink Enterprises
Ðúng invested cash of $25,000. Ariel had cash revenues of $5,000 and paid expenses of
Ðạt điểm 1,00 $7,000. Assuming no other transactions impacted the cash account, what is the
trên 1,00 balance in Cash at February 28?
Ðặt cờ
Select one:
a. $2,000 credit
b. $23,000 debit 

c. $2,000 debit

d. $27,000 debit

The correct answer is: $23,000 debit

Câu hỏi 15 Deerhoof Company purchases equipment for $1,700 and supplies for $400 from
Ðúng Milkman Co. for $2,100 cash. The entry for this transaction will include a
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. credit to Accounts Payable for Deerhoof

b. debit to Equipment $1,700 and a debit to Supplies Expense $400 for Milkman.
c. credit to Cash for Milkman.
d. debit to Equipment $1,700 and a debit to Supplies $400 for Deerhoof. 

The correct answer is: debit to Equipment $1,700 and a debit to Supplies $400 for
Deerhoof.

Câu hỏi 16 The usual sequence of steps in the recording process is to analyze each transaction,
Ðúng enter the transaction in the
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. ledger, and transfer the information to the journal.
b. journal, and transfer the information to the ledger accounts. 

c. book of original entry, and transfer the information to the journal.

d. book of accounts, and transfer the information to the journal.

The correct answer is: journal, and transfer the information to the ledger accounts.

Câu hỏi 17 The standard format of a journal would not include

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. an account title column.
Ðặt cờ
b. a T-account. 

c. a date column.

d. a reference column.

The correct answer is: a T-account.

Câu hỏi 18 An accounting record of the balances of all assets, liabilities, and owner's equity is
Ðúng called a:
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. chart of accounts.

b. compound entry.
c. general ledger. 

d. general journal.

The correct answer is: general ledger.

Câu hỏi 19 Radio Moscow Industries purchased supplies for $1,000. They paid $400 in cash and
Ðúng agreed to pay the balance in 30 days. The journal entry to record this transaction would
Ðạt điểm 1,00 include a debit to an asset account for $1,000, a credit to a liability account for $600.
trên 1,00 Which of the following would be the correct way to complete the recording of the
Ðặt cờ transaction?

Select one:
a. Credit an asset account for $400. 

b. Debit the Capital account for $400.

c. Credit the Capital account for $400.
d. Credit another liability account for $400.

The correct answer is: Credit an asset account for $400.

Câu hỏi 20 On July 7, 2012, Hidden Comera Enterprises performed cash services of $1,700. The
Ðúng entry to record this transaction would include
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. a credit to Accounts Receivable of $1,700.
b. a debit to Service Revenue of $1,700.
c. a debit to Cash of $1,700. 

d. a credit to Accounts Payable of $1,700.

The correct answer is: a debit to Cash of $1,700.

Câu hỏi 21 An account is a part of the financial information system and is described by all except
Ðúng which one of the following?
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. An account has a title.

b. An account is a source document. 

c. An account has a debit and credit side.

d. An account may be part of a manual or a computerized accounting system.

The correct answer is: An account is a source document.

Câu hỏi 22 Which of the following statements is not true?

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. d. Expenses are a negative factor in the computation of net income.
Ðặt cờ
b. Expenses increase owner's equity. 

c. Expenses have normal debit balances.

d. Expenses decrease owner's equity.

The correct answer is: Expenses increase owner's equity.

Câu hỏi 23 At October 1, 2012, Padilla Industries had an accounts payable balance of $30,000.
Ðúng During the month, the company made purchases on account of $25,000 and made
Ðạt điểm 1,00 payments on account of $36,000. At October 31, 2012, the accounts payable balance is
trên 1,00

Ðặt cờ Select one:

a. $21,000.
b. $41,000.
c. $19,000. 

d. $91,000.

The correct answer is: $19,000.

Câu hỏi 24 After transaction information has been recorded in the journal, it is transferred to the
Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. income statement.
Ðặt cờ
b. trial balance.
c. book of original entry.
d. ledger. 

The correct answer is: ledger.

Câu hỏi 25 The best interpretation of the word credit is the

Sai

Ðạt điểm 0,00 Select one:

trên 1,00 
a. increase side of an account.
Ðặt cờ
b. offset side of an account.
c. right side of an account.
d. decrease side of an account.

The correct answer is: right side of an account.

Câu hỏi 26 Which one of the following is not a part of an account?

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. Credit side
Ðặt cờ
b. Debit side
c. Trial balance 

d. Title

The correct answer is: Trial balance

Câu hỏi 27 The standard form of a journal entry has the

Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00 
a. debit account entered first at the extreme left margin.
Ðặt cờ
b. debit account entered first and indented.
c. credit account entered first and indented.
d. credit account entered first at the extreme left margin.

The correct answer is: debit account entered first at the extreme left margin.

Câu hỏi 28 The double-entry system requires that each transaction must be recorded
Ðúng

Ðạt điểm 1,00 Select one:

trên 1,00
a. in a journal and in a ledger.
Ðặt cờ
b. in two sets of books.
c. in at least two different accounts. 

d. d. first as a revenue and then as an expense.

The correct answer is: in at least two different accounts.

Câu hỏi 29 On June 1, 2012 Ted Leo Le buys a copier machine for his business and finances this
Ðúng purchase with cash and a note. When journalizing this transaction, he will
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. make a simple entry.
b. list the credit entries first, which is proper form for this type of transaction.

c. use two journal entries.

d. make a compound entry. 

The correct answer is: make a compound entry.

Câu hỏi 30 On January 14, Edamame Industries purchased supplies of $700 on account. The entry
Ðúng to record the purchase will include
Ðạt điểm 1,00
trên 1,00 Select one:
Ðặt cờ a. a debit to Supplies and a credit to Cash

b. a debit to Accounts Receivable and a credit to Supplies.

c. a debit to Supplies Expense and a credit to Accounts Receivable.
d. a debit to Supplies and a credit to Accounts Payable. 

The correct answer is: a debit to Supplies and a credit to Accounts Payable.

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