,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
n n n n n n n n n n
on Jeffrey Slater n n
CollegenAccounting,n13en(Slater)
Chaptern2n n DebitsnandnCredits:nAnalyzingnandnRecordingnBusinessnTransactions
2.1 LearningnObjectiven2-1
1) AccountsnPayablenhadnannormalnstartingnbalancenofn$500.nTherenwerendebitnpostingsnofn$200nandncred
itnpostingsnofn$100nduringnthenmonth.nThenendingnbalancenis:
A) $400ncredit.
B) $800ndebit.
C) $400ndebit.
D) $800ncredit.
nAnswer:n AnD
iff:n2
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Analyzenandnrecordntransactionsnandntheirneffectsnonnthenfinancialnstatements
2) ThenbeginningnbalanceninnthenComputersnaccountnwasn$3,000.nThencompanynpurchasednannadditional
$1000nworthnofncomputers.nThenendingnbalanceninnthenaccountnis:
A) debitnofn$2,000.
B) creditnofn$3,000.
C) debitnofn$4,000.
D) creditnofn$2,000.
nAnswer:n C
Diff:n1
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Analyzenandnrecordntransactionsnandntheirneffectsnonnthenfinancialnstatements
3) Annaccountingndevicenusedntonrecordnincreasesnandndecreasesninnindividualnassets,nliabilities,ncapita
l,nrevenue,nexpenses,nandnwithdrawalsnisna(n):
A) chartnofnaccounts.
B) account.
C) trialnbalance.
D) footing.
nAnswer:n
BnDiff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
1
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
n n n n n n n n n n
on Jeffrey Slater n n
4) Anformalnaccountnthatnhasncolumnsnforndate,nexplanation,npostingnreference,ndebit,nandncreditnisncalle
dnthe:
A) Tnaccount.
B) standardnaccountnform.
C) ledger.
D) chartnofnaccounts.
Answer:n B
Diff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
5) Anledger:
A) includesnallncompanynaccountsnandntheirnbalances.
B) cannreplacenthenfinancialnstatements.
C) isnthensamenasnanchartnofnaccounts.
D) isnknownnasnanworksheet.
nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
6) Thenleftnsidenofnanynaccountnisnthe:
A) debitnside.
B) creditnside.
C) endingnbalance.
D) beginningnbalance.
nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
7) Thenrightnsidenofnanynaccountnisnthe:
A) debitnside.
B) creditnside.
C) endingnbalance.
D) beginningnbalance.
nAnswer:n B
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
2
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
, DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
n n n n n n n n n n
on Jeffrey Slater n n
8) Annaccountnisnsaidntonhavenandebitnbalancenif:
A) thenfootingnofnthendebitsnexceedsnthenfootingnofnthencredits.
B) therenarenmorenentriesnonnthendebitnsidenthannonnthencreditnside.
C) itsnnormalnbalancenisndebitnwithoutnregardntonthenamountsnornnumbernofnentriesnonnthendebitnside.
D) thenlastnentrynofnthenaccountingnperiodnwasnpostednonnthendebitnsid
e.nAnswer:n A
Diff:n2
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
9) Thenledgernis:
A) angroupnofnaccountsnthatnrecordsndatanfromnbusinessntransactions.
B) antoolnusedntoninsurenthatnallnaccountsnhavennormalnbalances.
C) anchronologicalnrecordnofnthenday'sntransactions.
D) antoolnusedntonensurenthatndebitsnequalncredits
.nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
10) Thencreditnsidenisnalwaysnthenleftnsidenofnthenaccount
.nAnswer:n FALSE
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
11) AnTnaccountnisnusednforndemonstrationnpurposes
.nAnswer:n TRUE
Diff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
12) Explainnthendifferencenbetweennexpensesnandnwithdrawals.
Answer:n Anwithdrawalnisnusednfornrecordingnthenowner'snwithdrawalnofncompanynassetsnfornpersonalnus
e,nandnnotnrelatedntonthenbusiness.nExpensesnarencostsnthencompanynincursninncarryingnonnoperationsninnit
sneffortntoncreatenrevenue.
Diff:n2
LO:n 2-1
AACSB:n WrittennandnOralnCommunication
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
3
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
n n n n n n n n n n
on Jeffrey Slater n n
CollegenAccounting,n13en(Slater)
Chaptern2n n DebitsnandnCredits:nAnalyzingnandnRecordingnBusinessnTransactions
2.1 LearningnObjectiven2-1
1) AccountsnPayablenhadnannormalnstartingnbalancenofn$500.nTherenwerendebitnpostingsnofn$200nandncred
itnpostingsnofn$100nduringnthenmonth.nThenendingnbalancenis:
A) $400ncredit.
B) $800ndebit.
C) $400ndebit.
D) $800ncredit.
nAnswer:n AnD
iff:n2
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Analyzenandnrecordntransactionsnandntheirneffectsnonnthenfinancialnstatements
2) ThenbeginningnbalanceninnthenComputersnaccountnwasn$3,000.nThencompanynpurchasednannadditional
$1000nworthnofncomputers.nThenendingnbalanceninnthenaccountnis:
A) debitnofn$2,000.
B) creditnofn$3,000.
C) debitnofn$4,000.
D) creditnofn$2,000.
nAnswer:n C
Diff:n1
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Analyzenandnrecordntransactionsnandntheirneffectsnonnthenfinancialnstatements
3) Annaccountingndevicenusedntonrecordnincreasesnandndecreasesninnindividualnassets,nliabilities,ncapita
l,nrevenue,nexpenses,nandnwithdrawalsnisna(n):
A) chartnofnaccounts.
B) account.
C) trialnbalance.
D) footing.
nAnswer:n
BnDiff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
1
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
n n n n n n n n n n
on Jeffrey Slater n n
4) Anformalnaccountnthatnhasncolumnsnforndate,nexplanation,npostingnreference,ndebit,nandncreditnisncalle
dnthe:
A) Tnaccount.
B) standardnaccountnform.
C) ledger.
D) chartnofnaccounts.
Answer:n B
Diff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
5) Anledger:
A) includesnallncompanynaccountsnandntheirnbalances.
B) cannreplacenthenfinancialnstatements.
C) isnthensamenasnanchartnofnaccounts.
D) isnknownnasnanworksheet.
nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
6) Thenleftnsidenofnanynaccountnisnthe:
A) debitnside.
B) creditnside.
C) endingnbalance.
D) beginningnbalance.
nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
7) Thenrightnsidenofnanynaccountnisnthe:
A) debitnside.
B) creditnside.
C) endingnbalance.
D) beginningnbalance.
nAnswer:n B
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
2
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
, DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
n n n n n n n n n n
on Jeffrey Slater n n
8) Annaccountnisnsaidntonhavenandebitnbalancenif:
A) thenfootingnofnthendebitsnexceedsnthenfootingnofnthencredits.
B) therenarenmorenentriesnonnthendebitnsidenthannonnthencreditnside.
C) itsnnormalnbalancenisndebitnwithoutnregardntonthenamountsnornnumbernofnentriesnonnthendebitnside.
D) thenlastnentrynofnthenaccountingnperiodnwasnpostednonnthendebitnsid
e.nAnswer:n A
Diff:n2
LO:n 2-1
AACSB:n AnalyticalnThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
9) Thenledgernis:
A) angroupnofnaccountsnthatnrecordsndatanfromnbusinessntransactions.
B) antoolnusedntoninsurenthatnallnaccountsnhavennormalnbalances.
C) anchronologicalnrecordnofnthenday'sntransactions.
D) antoolnusedntonensurenthatndebitsnequalncredits
.nAnswer:n A
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
10) Thencreditnsidenisnalwaysnthenleftnsidenofnthenaccount
.nAnswer:n FALSE
Diff:n1
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
11) AnTnaccountnisnusednforndemonstrationnpurposes
.nAnswer:n TRUE
Diff:n2
LO:n 2-1
AACSB:n ReflectivenThinking
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
12) Explainnthendifferencenbetweennexpensesnandnwithdrawals.
Answer:n Anwithdrawalnisnusednfornrecordingnthenowner'snwithdrawalnofncompanynassetsnfornpersonalnus
e,nandnnotnrelatedntonthenbusiness.nExpensesnarencostsnthencompanynincursninncarryingnonnoperationsninnit
sneffortntoncreatenrevenue.
Diff:n2
LO:n 2-1
AACSB:n WrittennandnOralnCommunication
LearningnOutcome:n Definenaccountingnterms,naccountingnconceptsnandnprinciples
3
Copyrightn©n2016nPearsonnEducation,nInc
.
mynursytest.store
