Quiz 45: Accounting Debit and Credit Quiz

Test your knowledge of mdct.ru with our accounting debit and credit quiz.

If you need a refresher course on this topic you can view our basics of bookkeeping tutorials here.

Start the Accounting Debit and Credit Quiz

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1. The owner of the business invests 100,000, is the double entry posting to the capital account a debit or a credit?
Wrong
Right!
2. Rent is prepaid for an office for the business, is the accounting entry to the prepaid rent account a debit or a credit?
Right!
Wrong
3. Office equipment is purchased on account from a supplier, is the double entry to the equipment account a debit or a credit?
Right!
Wrong

4. Supplies are purchased for cash, is the double entry posting to the supplies on hand account a debit or a credit entry?
Right!
Wrong
5. The business carried out work for a customer and was paid in cash, is the entry to the revenue account a debit or a credit?
Wrong
Right!
6. Work was completed and invoiced to a customer for payment within 30 days, is the posting to accounts receivable a debit or a credit?
Right!
Wrong
7. Insurance for the next year was paid in advance in cash, is the mdct.ru entry to the cash account a debit or a credit?
Wrong
Right!
8. Cash was paid to a supplier for goods supplied by them on credit terms, is the entry to accounts payable a debit or credit entry?
Right!
Wrong
9. Cash was received on account from a customer for partially completed work, is the entry to the cash account a debit or a credit?
Right!
Wrong
10. The business paid a dividend to the owners, is the double entry posting to the dividend account a debit or a credit.
Right!
Wrong

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Quiz 45: Accounting Debit and Credit Quiz December 14th, 2016Team

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