BOOKKEEPING TEST Q AND A
Acylistingcyofcythecyaccountcynumberscyandcytitlescybutcywithoutcyaccountcybalancescyiscythec
y______________ cyofcyaccounts.cy-cyanswer--Chart
Priorcytocyapprovingcyacyvendor'scyinvoicecyforcypayment,cythecyinvoice,cyreceivingcyticket,cy
andcy______________cyordercyshouldcybecycompared.cy-cyanswer--Purchases
Thecyreportcythatcysortscyacycompany'scyaccountscyreceivablescyintocycurrent,cy1-
30cydayscypastcydue,cy31-
60cydayscypastcydue,cyetc.cyiscyreferredcytocyascythecy______________cyofcyaccountscyrecei
vable.cy-cyanswer--Aging
Thecyamountcyofcyinsurancecypremiumscythatcyhavecynotcyyetcyexpiredcyiscyreportedcyascyan
cy______________.cy-cyanswer--Assets
Adjustingcyentriescyarecyrecordedcyincythecy______________cyjournal.cy-cyanswer--
General
Thecybankcystatementcyhascyancyendingcybalancecyofcy$1,700.cyTherecyarecy$600cyofcydepo
sitscyincytransitcy
andcy$2,100cyofcycheckscyoutstanding.cyThecyadjustedcybalancecypercythecybankcystateme
ntcyiscy$______________.cy-cyanswer--$200.00
Whichcyofcythecyfollowingcywillcyincreasecythecybalancecyincyacyliabilitycyaccount?cy-
cyanswer--Credit
Whichcyofcythecyfollowingcywillcyincreasecythecybalancecyincyacyrevenuecyaccount?cy-
cyanswer--Credit
RentcyExpense,cyWagescyExpense,cyandcyAdvertisingcyExpensecyarecyexpectedcytocyhave
cy____________cybalances.cy-cyanswer--Debit
10.cyThecycostcyofcythecylandcythatcyiscyusedcyascythecysitecyofcyacynewcywarehousecyshouldcy
becydepreciated.cy-cyanswer--False
Thecybookcyvaluecyofcyacycompany'scyequipmentcyiscyusuallycythecysamecyascythecyequipme
nt'scyfaircymarketcyvalue.cy-cyanswer--False
Assetscythatcywillcyturncytocycashcywithincyonecyyearcyarecyreportedcyascy_______________
_cyassets.cy-cyanswer--Current
Costscythatcyarecyusedcyupcyorcyexpirecyincythecycurrentcyaccountingcyperiodcyarecyreportedc
yoncythecyincomecystatementcyascy______________. cy-cyanswer--Expenses
Acylistingcyofcythecyaccountcynumberscyandcytitlescybutcywithoutcyaccountcybalancescyiscythec
y______________ cyofcyaccounts.cy-cyanswer--Chart
Priorcytocyapprovingcyacyvendor'scyinvoicecyforcypayment,cythecyinvoice,cyreceivingcyticket,cy
andcy______________cyordercyshouldcybecycompared.cy-cyanswer--Purchases
Thecyreportcythatcysortscyacycompany'scyaccountscyreceivablescyintocycurrent,cy1-
30cydayscypastcydue,cy31-
60cydayscypastcydue,cyetc.cyiscyreferredcytocyascythecy______________cyofcyaccountscyrecei
vable.cy-cyanswer--Aging
Thecyamountcyofcyinsurancecypremiumscythatcyhavecynotcyyetcyexpiredcyiscyreportedcyascyan
cy______________.cy-cyanswer--Assets
Adjustingcyentriescyarecyrecordedcyincythecy______________cyjournal.cy-cyanswer--
General
Thecybankcystatementcyhascyancyendingcybalancecyofcy$1,700.cyTherecyarecy$600cyofcydepo
sitscyincytransitcy
andcy$2,100cyofcycheckscyoutstanding.cyThecyadjustedcybalancecypercythecybankcystateme
ntcyiscy$______________.cy-cyanswer--$200.00
Whichcyofcythecyfollowingcywillcyincreasecythecybalancecyincyacyliabilitycyaccount?cy-
cyanswer--Credit
Whichcyofcythecyfollowingcywillcyincreasecythecybalancecyincyacyrevenuecyaccount?cy-
cyanswer--Credit
RentcyExpense,cyWagescyExpense,cyandcyAdvertisingcyExpensecyarecyexpectedcytocyhave
cy____________cybalances.cy-cyanswer--Debit
10.cyThecycostcyofcythecylandcythatcyiscyusedcyascythecysitecyofcyacynewcywarehousecyshouldcy
becydepreciated.cy-cyanswer--False
Thecybookcyvaluecyofcyacycompany'scyequipmentcyiscyusuallycythecysamecyascythecyequipme
nt'scyfaircymarketcyvalue.cy-cyanswer--False
Assetscythatcywillcyturncytocycashcywithincyonecyyearcyarecyreportedcyascy_______________
_cyassets.cy-cyanswer--Current
Costscythatcyarecyusedcyupcyorcyexpirecyincythecycurrentcyaccountingcyperiodcyarecyreportedc
yoncythecyincomecystatementcyascy______________. cy-cyanswer--Expenses
