Accounting Journal Entries - Chapters 1 - 9 & 11 Exam & Study Guide | Questions and Answers | 2026/2027

Accounting Journal Entries - Chapters 1 - 9
& 11 Exam & Study Guide | Questions and
Answers | 2026/2027



Chapter 2


Owner contribution of cash for equity - correct answer-Debit Cash


Credit Owner, Capital


Chapter 2


Paid cash for land - correct answer-Debit Land


Credit Cash


Chapter 2


Purchased office supplies on account - correct answer-Debit Office Supplies

,Credit Accounts Payable


Chapter 2


Received cash for services performed - correct answer-Debit Cash


Credit Service Revenue


Chapter 2


Performed services on credit - correct answer-Debit Accounts Receivable


Credit Service Revenue


Chapter 2


Paid cash for expenses - correct answer-Debit each expense account


Credit Cash


Chapter 2


Paid cash on account - correct answer-Debit Accounts Payable

, Credit Cash


Chapter 2


Received cash on account - correct answer-Debit Cash


Credit Accounts Receivable


Chapter 2


Owner withdrawals of cash - correct answer-Debit Owner, Withdrawals


Credit Cash


Chapter 2


Paid rent in advance - correct answer-Debit Prepaid Rent


Credit Cash


Chapter 2


Paid salaries - correct answer-Debit Salaries Expense