Question 1

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

-     Another name for the accounting books or simply the books 
A) Credit 
B) Journal 
C) Account 
D) Ledger 
E) Source documents 
F) Accounting records 
G) Debit 
H) T-account 
I) Posting 
J) Double-entry accounting

Accepted Answer

The answer of Match the following definitions and terms by...

Question 2

Match between columns
                        Premises: The process of transferring journal entry information to the ledger
A simple form used as a helpful tool in understanding the effect of transactions and events on specific accounts
A written promise from a customer to pay a definite sum of money on a specified future date
The most flexible type of journal, it can be used to record any kind of transaction
A record of the increases and decreases in a specific asset, liability, equity, revenue or expense item
A journal entry that affects at least three accounts
A list of all accounts used by a company and the identification number assigned to each account
Liabilities created when customers pay in advance for products or services; satisfied by delivering the products or services in the future
A list of accounts and their balances at a point in time; the total debit balances should equal the total credit balances
A column in journals where individual account numbers are entered when entries are posted to ledger accounts

Accepted Answer

The Answer of T-account  and  Posting  and is...

Question 3

Match between columns
                        Premises: The ratio of total liabilities to total assets; used to reflect the risk associated with the company's debts
A list of accounts and their balances at a point in time; the total debit balances should equal the total credit balances
An increase in an asset, dividend and expense account and a decrease in a liability, common stock and revenue account; recorded on the left side of a T-account
A written promise to pay a definite sum of money on a specified future date
A file containing all accounts of a company and their balances
A list of all accounts used by a company and the identification number assigned to each account
The difference between total debits and total credits for an account including the beginning balance
A complete record of all transactions in one place that shows debits and credits for each transaction
An account with debit and credit columns for recording entries and a third column for showing the balance of the account after each entry
A decrease in an asset, dividend and expense account and an increase in a liability, common stock and revenue account; recorded on the right side of a T-account

Accepted Answer

The Answer of  Journal  and  Trial balance is...

Question 4

Match between columns
                        Premises:    A simple account form used as a helpful tool in showing the effects of transactions and events on specific accounts 
   A file containing all accounts of a company and their balances 
   The process of transferring journal entry information to the ledger 
   A record of the increases and decreases in a specific asset, liability, equity, revenue or expense item 
   A company's record of all transactions in one place that shows debits and credits for each transaction 
   Decrease in an asset, dividend and expense account and increase in a liability, common stock and revenue account; recorded on the right side of a T-account 
   An accounting system where the impact of each transaction is recorded in at least two accounts; the sum of the debits for each entry must equal its credits 
   Another name for the accounting books or simply the books 
   The sources of accounting information. 
   An increase in an asset, dividend and expense account and decrease in a liability, common stock and revenue account; recorded on the left side of a T-account

Accepted Answer

The Answer of  T-account  and  Credit  is...

Question 5

Match between columns
                        Premises:  To decrease Cash
 To increase Common Stock
 To decrease Accounts Payable
 To increase Salaries Expense
 To decrease Supplies
 To increase Revenue.
 To decrease Accounts Receivable
 To increase Retained Earnings

Accepted Answer

The Answer of Credit and Debit is...

Question 6

Match between columns
                        Premises:  Accounts Payable
 Unearned Fees Revenues
 Office Equipment
 Rent Expense
 Fees Revenue
Wages Payable
 Rent Expense
 Cash
 Common Stock
 Notes Receivable

Accepted Answer

The Answer of Income Statement (IS) and Balance Sheet (BS) is...

Question 7

Match between columns
                        Premises:  Salary Expense
 Accounts Payable
 Prepaid Insurance
 Unearned Fee Revenue
 Fees Revenue
 Accounts Receivable
 Common Stock
 Supplies
 Retained Earnings
 Cash
 Equipment
 Dividends

Accepted Answer

The Answer of revenue and expense and asset and liability is...

Question 8

Match between columns
                        Premises:  Unearned revenues
 Chart of accounts
 Note receivable
 Posting reference column
 Posting
 Trial Balance
 Compound journal entry
 Account
 T-account
 General journal

Accepted Answer

The Answer of The most flexible type of journal, it is...

Question 9

Match between columns
                        Premises:  Balance column account
 Debt ratio
 Account balance
 Chart of accounts
 Ledger
 Journal
 Note payable
 Trial balance
 Credit
 Debit

Accepted Answer

The Answer of The sources of accounting information. and A is...

Question 10

Match between columns
                        Premises:  Credit
 Journal
 Account
 Ledger
 Source documents
 Accounting records
 Debit
 T-account
 Posting
 Double-entry accounting

Accepted Answer

The Answer of The sources of accounting information. and An is...

Quiz 2: Analyzing and Recording Transactions

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term. - Another name for the accounting books or simply the books

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

Match the following definitions and terms by placing the number that identifies the best definition in the blank space next to the term.

Match the changes in each account whether a debit or credit entry

Match the accounts to the statement they appear on

Identify each of the following accounts

Match term to its definition

Match term to its definition

Match term to its definition