The accounts receivable | Accounting homework help

 1) The accounts receivable account has total debit postings of $1,900 and credit postings of $1,100. The balance of the account is
a. 800 debit
b. 800 credit
c. 2,600 credit
d. 2,600 debit

2) Jim Walton performed services on credit for 2,450. a debit for this transaction should be recorded to
a revenue
b. accounts receivable
c. accounts payable
d. cash

3) Accounts payable had a normal starting balance of 800. There were debit postings of 600 and credit postings of 300 during the month. The ending balance is
a. 500 credit
b. 1,000 debit
c. 500 debit
d. 1,000 credit

4) When an owner records a credit for 650 for revenue earned but not yet received, the amount of the debit should be
a. 325
b. 0
c. 975
d. 650

5) A category that is not in the chart of accounts is
a. assets
b. liabilities
c. cash flows
d. revenue

6) Which of the statements of the rules of debit and credit is true?
a. decrease accounts receivable with a credit and the normal balance is a credit
b. increase accounts payable with a credit and the normal balance is a credit
c. increase capital with a debit and the normal balance is a debit
d. decrease cash with a debit and the normal balance is a debit

7) The left side of any account is the
a. debit side
b. credit side
c. ending balance
d. footings

8) Which of the following entries records the investment of cash by john, owner of a sole proprietorship?
a. debit john, capital; credit cash
b. debit cash; credit john, withdrawals
c. debit john, withdrawals; credit cash
d. debit cash; credit john, capital

9) The accounts payable account is
a. a revenue, and it has normal debit balance
b. an expense, and it has a normal credit balance
c. a liability, and it has a normal debit balance
d. a liability, and it has a normal credit balance

10) A debit increases the balance in all of the following accounts, except
a. cash
b. withdrawals
c. expenses
d. accounts payable

11) The rigt side of any accounts is the
a. debit side
b. credit side
c. ending balance
d. footings

12) The ledger is
a. a group of accounts that records data from business transactions
b. a tool used to make sure that all accounts have normal balances
c. chronological record of the day’s transactions
d. a tool used to ensure that debits equal credits

13) The beginning balance in the computers account was 2,000. The company purchased an additional 1,000 worth of computers. The balance in the account is
a. debit of 2,000
b. credit of 3,000
c. debit of 3,000
d. credit of 2,000

14) An account is said to have a debit balance if
a. the footing of the debits exceeds the footing of the credits
b. there are more entries on the debit side than on the credit side
c. its normal balance is debit without regard to the amounts or number of entries on the debit side
d. the last entry of the accounting period was posted on the debit side

15) A liability would be credited and an expense debited if
a. the business paid a creditor
b. the business incurred an expense and did not pay the expense immediately
c. the business bought supplies on account
d. the business bought supplies for cash

16) One asset would be debited and another credited if
a. the business provided services to a cash customer
b. the business paid a creditor
c. the business bought supplies paying cash
d. the business provided services to a credit customer                 

Get 20% Discount on This Paper
Pages (550 words)
Approximate price: -

Try it now!

Get 20% Discount on This Paper

We'll send you the first draft for approval by at
Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

Australia Assessments has gained an international reputation of being the leading website in custom assignment writing services. Once you give us the instructions of your paper through the order form, we will complete the rest.

Essays

Essay Writing Services

As we work towards providing the best custom assignment services, our company provides assignment services for any type of academic essay. We will help you develop professionally written essays that are rich in content and free from plagiarism.

Admissions

Admission and Business Papers

Our skilled team of professional writers will ensure that we help you craft a remarkable admission essay for your desired Master's program in your institution of choice. We won't stop there. Once you enter the job market, we will be available to secure you a position at your desired worksite by creating an outstanding portfolio or resume.

Editing

Editing and Proofreading

Our editorial team is always available for all editing and proofreading services. They check completed papers by our writers and also provide professional opinions to papers completed by our clients.

Coursework

Technical papers

We harbor professional academic writers with different qualifications in diverse academic fields. As such, we are capable of handling both simple and technical papers. Ensure that you provide us with correct and complete instructions in the order form.