TEST BANK
Century 21 Accounting: General Journal
ST
Claudia Bienias Gilbertson, Mark W. Lehman
────────────────────────────────────────────────────
UV
11th Edition
IA
?_
TEST BANK
AP
PR
OV
ED
??
, TABLE OF CONTENTS
Test Bank: Century 21 Accounting General Journal, 11th Edition
By Claudia Bienias Gilbertson and Mark Lehman
ST
PART 1. ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A
PROPRIETORSHIP
CHAPTER 1 Starting a Proprietorship: Changes That Affect the Accounting Equation
UV
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts
CHAPTER 3 Journalizing Transactions
CHAPTER 4 Posting to a General Ledger
IA
CHAPTER 5 Cash Control Systems
CHAPTER 6 Work Sheet and Adjusting Entries for a Service Business
CHAPTER 7 Financial Statements for a Proprietorship
?_
Recording Closing Entries and Preparing a Post-Closing Trial Balance for a
CHAPTER 8 Service Business
PART 2. ACCOUNTING FOR A MERCHANDISING BUSINESS
AP
ORGANIZED AS A CORPORATION
CHAPTER 9 Accounting for Purchases and Cash Payments
CHAPTER 10 Accounting for Sales and Cash Receipts
PR
CHAPTER 11 Accounting for Transactions Using a General Journal
CHAPTER 12 Preparing Payroll Records
CHAPTER 13 Accounting for Payroll and Payroll Taxes
OV
CHAPTER 14 Accounting for Uncollectible Accounts Receivable
CHAPTER 15 Preparing Adjusting Entries and a Trial Balance
CHAPTER 16 Financial Statements and Closing Entries for a Corporation
CHAPTER 17 Financial Statement Analysis
ED
PART 3. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION—ADJUSTMENTS AND
VALUATION
??
CHAPTER 18 Acquiring Capital for Growth and Development
CHAPTER 19 Accounting for Plant Assets, Depreciation, and Intangible Assets
CHAPTER 20 Accounting for Inventory
, CHAPTER 21 Accounting for Accruals, Deferrals, and Reversing Entries
CHAPTER 22 End-of-Fiscal-Period Work for a Corporation
PART 4. ADDITIONAL ACCOUNTING PROCEDURES
ST
CHAPTER 23 Accounting for Partnerships
CHAPTER 24 Recording International and Internet Sales
UV
IA
?_
AP
PR
OV
ED
??
, Name: Class: Date:
Chapter 01—The Accounting Equation
Indicate whether the statement is true or false.
ST
1. The accounting equation is most often stated as Assets + Liabilities = Owner’s Equity.
a. True
b. False
ANSWER: False
UV
POINTS: 1
DIFFICULTY: Remember/Understand
2. After each transaction, the accounting equation must remain in balance.
a. True
IA
b. False
ANSWER: True
POINTS: 1
?_
DIFFICULTY: Remember/Understand
3. A negative amount for net worth would reflect more debt than assets, something a creditor would favor.
a. True
AP
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
PR
4. When two asset accounts are changed in a transaction, there must be an increase and a decrease.
a. True
b. False
ANSWER: True
OV
POINTS: 1
DIFFICULTY: Remember/Understand
5. Detailed information about changes in owner’s equity is needed by owners and managers to make sound
business decisions.
ED
a. True
b. False
ANSWER: True
POINTS: 1
??
DIFFICULTY: Remember/Understand
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Century 21 Accounting: General Journal
ST
Claudia Bienias Gilbertson, Mark W. Lehman
────────────────────────────────────────────────────
UV
11th Edition
IA
?_
TEST BANK
AP
PR
OV
ED
??
, TABLE OF CONTENTS
Test Bank: Century 21 Accounting General Journal, 11th Edition
By Claudia Bienias Gilbertson and Mark Lehman
ST
PART 1. ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A
PROPRIETORSHIP
CHAPTER 1 Starting a Proprietorship: Changes That Affect the Accounting Equation
UV
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts
CHAPTER 3 Journalizing Transactions
CHAPTER 4 Posting to a General Ledger
IA
CHAPTER 5 Cash Control Systems
CHAPTER 6 Work Sheet and Adjusting Entries for a Service Business
CHAPTER 7 Financial Statements for a Proprietorship
?_
Recording Closing Entries and Preparing a Post-Closing Trial Balance for a
CHAPTER 8 Service Business
PART 2. ACCOUNTING FOR A MERCHANDISING BUSINESS
AP
ORGANIZED AS A CORPORATION
CHAPTER 9 Accounting for Purchases and Cash Payments
CHAPTER 10 Accounting for Sales and Cash Receipts
PR
CHAPTER 11 Accounting for Transactions Using a General Journal
CHAPTER 12 Preparing Payroll Records
CHAPTER 13 Accounting for Payroll and Payroll Taxes
OV
CHAPTER 14 Accounting for Uncollectible Accounts Receivable
CHAPTER 15 Preparing Adjusting Entries and a Trial Balance
CHAPTER 16 Financial Statements and Closing Entries for a Corporation
CHAPTER 17 Financial Statement Analysis
ED
PART 3. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION—ADJUSTMENTS AND
VALUATION
??
CHAPTER 18 Acquiring Capital for Growth and Development
CHAPTER 19 Accounting for Plant Assets, Depreciation, and Intangible Assets
CHAPTER 20 Accounting for Inventory
, CHAPTER 21 Accounting for Accruals, Deferrals, and Reversing Entries
CHAPTER 22 End-of-Fiscal-Period Work for a Corporation
PART 4. ADDITIONAL ACCOUNTING PROCEDURES
ST
CHAPTER 23 Accounting for Partnerships
CHAPTER 24 Recording International and Internet Sales
UV
IA
?_
AP
PR
OV
ED
??
, Name: Class: Date:
Chapter 01—The Accounting Equation
Indicate whether the statement is true or false.
ST
1. The accounting equation is most often stated as Assets + Liabilities = Owner’s Equity.
a. True
b. False
ANSWER: False
UV
POINTS: 1
DIFFICULTY: Remember/Understand
2. After each transaction, the accounting equation must remain in balance.
a. True
IA
b. False
ANSWER: True
POINTS: 1
?_
DIFFICULTY: Remember/Understand
3. A negative amount for net worth would reflect more debt than assets, something a creditor would favor.
a. True
AP
b. False
ANSWER: False
POINTS: 1
DIFFICULTY: Remember/Understand
PR
4. When two asset accounts are changed in a transaction, there must be an increase and a decrease.
a. True
b. False
ANSWER: True
OV
POINTS: 1
DIFFICULTY: Remember/Understand
5. Detailed information about changes in owner’s equity is needed by owners and managers to make sound
business decisions.
ED
a. True
b. False
ANSWER: True
POINTS: 1
??
DIFFICULTY: Remember/Understand
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