Solutions Manual With Test Bank for College Accounting 13th Edition By John Ellis Price David

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CollegefAccounting,f13Cef(Slater)
Chapterf2f f DebitsfandfCredits:fAnalyzingfandfRecordingfBusinessfTransactions

2.1 RecordingftransactionsfinfTfaccountsfaccordingftofthefrulesfoffdebitfandfcredit.

1) OnefofftheffollowingfstatementsfdoesfnotfhelpftofexplainfthefdesignfoffafTfaccount:
A) Thefaccountfhasfafbalance.
B) Thefaccountfhasfafleftfside.
C) Thefaccountfhasfafrightfside.
D) Thefaccountfhasfaftitle.f
Answer:f A
Diff:f2
Type:fMC
f Objective:f 2-1

2) WhenfspeakingfoffthefStandardfAccountfForm,fitfisfTRUEftofsayfthat
A) Itfisfwidelyfusedfinfbusinessfrecordsftoday.
B) Thefformfhasfnofroomfforfindicatingfeitherfafdebitforfafcredit.
C) TherefisfnofDatefcolumnfincludedfinfthisfform.
D) Allfoffafcompany'sfaccountsftogetherfformfafledger.f
Answer:f D
Diff:f2
Type:fMC
f Objective:f 2-1

3) WhichfoffthesefstatementsfaboutfTfaccountsfisfFALSE?
A) Theyfarefusedfmainlyfinfclassroomfdemonstrations.
B) Theyfhavefbothfafleftfsidefandfafrightfside.
C) Theyfarefusedfextensivelyfinfcomputerfaccounting.
D) Eachfaccountfhasfafnormalfbalancefwhichfisfeitherfafdebitforfafcredit.fA
nswer:f C
Diff:f1
Type:fMC
f Objective:f 2-1

4) Whatfdevicefisfusedftofrecordfthefincreasesfandfdecreasesfcausedfbyfbusinessftransactionsftofin
dividualfassets,fliabilities,fandfowner'sfequity?
A) Chartfoffaccounts
B) Account
C) TrialfBalance
D) Footings
fAnswer:f B

Diff:f1
Type:fMC
f Objective:f 2-1




1
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5) Anfaccountfhadfafstartingfdebitfbalancefoff$350.f Therefwerefdebitfpostingsfoff$400fandfcreditfpostingsfoff$
200fduringfthefmonth.f Thefendingfbalancefis
A) $550fdebit.
B) $450fcredit.
C) $950fdebit.
D) $200fdebit.f
Answer:f A
Diff:f2
Type:fMC
f Objective:f 2-1

6) Thefwordf"debit"fcomesffromfwhichflanguage?
A) Latin
B) French
C) Italian
D) NorskfA
nswer:f A
Diff:f1
Type:fMC
f Objective:f 2-1

7) Withfrespectftofthefbalancingfoffanfaccount,fwhichfonefoffthesefstatementsfisfFALSE?
A) Ifftheftotalfonfthefcreditfsidefwasftheflarger,fthefbalancefisfafcredit.
B) Dollarfsignsfarefalwaysfusedftofdesignatefafbalancefamount.
C) Footingsfoffeachfsidefoffthefaccountfarefneededftofdeterminefthefbalance.
D) Ifftheftotalfonfthefdebitfsidefwasftheflarger,fthefbalancefisfafdebit.fA
nswer:f B
Diff:f1
Type:fMC
f Objective:f 2-1

8) AccountsfReceivablefhadfafnormalfstartingfbalancefoff$1000.fTherefwerefdebitfpostingsfoff$800fandfcre
ditfpostingsfoff$400fduringfthefmonth.fThefendingfbalancefis
A) $600fcredit.
B) $1,400fdebit.
C) $2,200fdebit.
D) $1,400fcredit.
Answer:f B
Diff:f2
Type:fMC
f Objective:f 2-2

9) Anfaccountfhadfaf$500fcreditfstartingfbalance.f Therefwerefdebitfpostingsfoff$400fandfcreditfpostingsfof
$150fduringfthefmonth.f Thefendingfbalancefis
A) $250fcredit.
B) $750fdebit.
C) $1050fcredit.
D) $150fcredit.f
Answer:f A
Diff:f2

2
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,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
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Type:fMC
f Objective:f 2-1




3
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10) ThefbeginningfbalancefinfthefComputersfaccountfwasf$2,500.fThefcompanyfpurchasedfanfadditional
$500fworthfoffcomputers.fThefbalancefinfthefaccountfis
A) debitfoff$2,000.
B) creditfoff$3,000.
C) debitfoff$3,000.
D) creditfoff$2,000.f
Answer:f C
Diff:f1
Type:fMC
f Objective:f 2-2

11) Cashfhadfafnormalfstartingfbalancefoff$600.fTherefwerefdebitfpostingsfoff$200fandfcreditfpostingsfof
$300fduringfthefmonth.fThefendingfbalancefis
A) $500fcredit.
B) $1,100fdebit.
C) $500fdebit.
D) $1,100fcredit.
Answer:f C
Diff:f2
Type:fMC
f Objective:f 2-2

12) Cashfincreasesfonfthefdebitfsidefoffthefaccount.f
Answer:f TRUE
Diff:f1
Type:fTF
f Objective:f 2-2

13) Revenuesfarefrecordedfwhenfearned.f
Answer:f TRUE
Diff:f1
Type:fTF
f Objective:f 2-2

14) Afchartfoffaccountsfisfaflistingfoffthefaccountsfandftheirfendingfbalances.fA
nswer:f FALSE
Diff:f1
Type:fTF
f Objective:f 2-1

15) Revenuefincreasesfonfthefdebitfsidefoffthefaccount.f
Answer:f FALSE
Diff:f1
Type:fTF
f Objective:f 2-2

16) AccountsfPayablefincreasesfonfthefcreditfsidefoffthefaccount.fA
nswer:f TRUE
Diff:f1
Type:fTF
f Objective:f 2-2

4
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