Quiz 37: Debit Credit In Accounting Quiz

Debit Credit In Accounting Quiz

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

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1. A fixed asset is disposed of for cash. What type of entry is made on the fixed assets account?
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2. A business makes cash purchases. What type of entry is made to the cash account?
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3. A business signs a contract with a new employee. What type of entry is made to the wages account.
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4. Wages of 1,500 are paid to an employee. What type of entry is made to the wages account?
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5. Goods are sold on account to a customer. What type of entry is made to accounts receivable?
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6. Commission is earned by a business. What type of entry is made to the commissions earned account?
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7. Discounts are allowed to a customer. What type of entry is made to the discounts allowed account?
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8. Inventory is are purchased on account from a supplier. What type of entry is made on the accounts payable account?
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9. Goods are sold for cash. What type of entry is made on the accounts receivable account?
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10. A business owner injects cash into a business. What type of entry is made to the cash account?
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Quiz 37: Debit Credit In Accounting Quiz December 14th, 2016Team

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