DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
CollegegAccounting,g13eg(Slater)
Chapterg2g g DebitsgandgCredits:gAnalyzinggandgRecordinggBusinessgTransactions
2.1 LearninggObjectiveg2-1
1) AccountsgPayableghadgagnormalgstartinggbalancegofg$500.gTheregweregdebitgpostingsgofg$200gandgcredi
tgpostingsgofg$100gduringgthegmonth.gThegendinggbalancegis:
A) $400gcredit.
B) $800gdebit.
C) $400gdebit.
D) $800gcredit.
gAnswer:g AgD
iff:g2
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Analyzegandgrecordgtransactionsgandgtheirgeffectsgongthegfinancialgstatements
2) ThegbeginninggbalancegingthegComputersgaccountgwasg$3,000.gThegcompanygpurchasedgangadditional
$1000gworthgofgcomputers.gThegendinggbalancegingthegaccountgis:
A) debitgofg$2,000.
B) creditgofg$3,000.
C) debitgofg$4,000.
D) creditgofg$2,000.
gAnswer:g C
Diff:g1
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Analyzegandgrecordgtransactionsgandgtheirgeffectsgongthegfinancialgstatements
3) Angaccountinggdevicegusedgtogrecordgincreasesgandgdecreasesgingindividualgassets,gliabilities,gcapital
,grevenue,gexpenses,gandgwithdrawalsgisga(n):
A) chartgofgaccounts.
B) account.
C) trialgbalance.
D) footing.
gAnswer:g
BgDiff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
1
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
4) Agformalgaccountgthatghasgcolumnsgforgdate,gexplanation,gpostinggreference,gdebit,gandgcreditgisgcalle
dgthe:
A) Tgaccount.
B) standardgaccountgform.
C) ledger.
D) chartgofgaccounts.
Answer:g B
Diff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
5) Agledger:
A) includesgallgcompanygaccountsgandgtheirgbalances.
B) cangreplacegthegfinancialgstatements.
C) isgthegsamegasgagchartgofgaccounts.
D) isgknowngasgagworksheet.
gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
6) Thegleftgsidegofganygaccountgisgthe:
A) debitgside.
B) creditgside.
C) endinggbalance.
D) beginninggbalance.
gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
7) Thegrightgsidegofganygaccountgisgthe:
A) debitgside.
B) creditgside.
C) endinggbalance.
D) beginninggbalance.
gAnswer:g B
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
2
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
8) Angaccountgisgsaidgtoghavegagdebitgbalancegif:
A) thegfootinggofgthegdebitsgexceedsgthegfootinggofgthegcredits.
B) theregaregmoregentriesgongthegdebitgsidegthangongthegcreditgside.
C) itsgnormalgbalancegisgdebitgwithoutgregardgtogthegamountsgorgnumbergofgentriesgongthegdebitgside.
D) theglastgentrygofgthegaccountinggperiodgwasgpostedgongthegdebitgside
.gAnswer:g A
Diff:g2
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
9) Thegledgergis:
A) aggroupgofgaccountsgthatgrecordsgdatagfromgbusinessgtransactions.
B) agtoolgusedgtoginsuregthatgallgaccountsghavegnormalgbalances.
C) agchronologicalgrecordgofgthegday'sgtransactions.
D) agtoolgusedgtogensuregthatgdebitsgequalgcredits
.gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
10) Thegcreditgsidegisgalwaysgthegleftgsidegofgthegaccount
.gAnswer:g FALSE
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
11) AgTgaccountgisgusedgforgdemonstrationgpurposes.
gAnswer:g TRUE
Diff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
12) Explaingthegdifferencegbetweengexpensesgandgwithdrawals.
Answer:g Agwithdrawalgisgusedgforgrecordinggthegowner'sgwithdrawalgofgcompanygassetsgforgpersonalguse,
gandgnotgrelatedgtogthegbusiness.gExpensesgaregcostsgthegcompanygincursgingcarryinggongoperationsgingitsge
ffortgtogcreategrevenue.
Diff:g2
LO:g 2-1
AACSB:g WrittengandgOralgCommunication
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
3
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
, DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
2.2 LearninggObjectiveg2-2
1) Agcompoundgentrygis:
A) agtransactionginvolvinggmoregthangonegdebitgand/orgcredit.
B) usedgtogpreparegthegtrialgbalance.
C) includedgongthegbalancegsheet.
D) foundgongthegincomegstatement.
gAnswer:g A
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
2) Thegsidegthatgincreasesgthegaccountgbalance,gbygthegrulesgofgdebitgandgcredit,gisgsaidgtogbegthe:
A) debitgside.
B) creditgside.
C) normalgbalance.
D) Nonegofgtheseganswersgisgcorrect.
gAnswer:g C
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
3) ThegAccountsgPayablegaccountgis:
A) agcapital,gandgitghasgagnormalgdebitgbalance.
B) angexpense,gandgitghasgagnormalgcreditgbalance.
C) agliability,gandgitghasgagnormalgdebitgbalance.
D) agliability,gandgitghasgagnormalgcreditgbalance
.gAnswer:g D
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
4) Angaccountgthatgwouldgbegincreasedgbygagcreditgis:
A) Cash.
B) PrepaidgExpense.
C) UtilitiesgExpense.
D) AccountsgPayable.
Answer:g D
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
4
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
g g g g g g g g g g
on Jeffrey Slater g g
CollegegAccounting,g13eg(Slater)
Chapterg2g g DebitsgandgCredits:gAnalyzinggandgRecordinggBusinessgTransactions
2.1 LearninggObjectiveg2-1
1) AccountsgPayableghadgagnormalgstartinggbalancegofg$500.gTheregweregdebitgpostingsgofg$200gandgcredi
tgpostingsgofg$100gduringgthegmonth.gThegendinggbalancegis:
A) $400gcredit.
B) $800gdebit.
C) $400gdebit.
D) $800gcredit.
gAnswer:g AgD
iff:g2
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Analyzegandgrecordgtransactionsgandgtheirgeffectsgongthegfinancialgstatements
2) ThegbeginninggbalancegingthegComputersgaccountgwasg$3,000.gThegcompanygpurchasedgangadditional
$1000gworthgofgcomputers.gThegendinggbalancegingthegaccountgis:
A) debitgofg$2,000.
B) creditgofg$3,000.
C) debitgofg$4,000.
D) creditgofg$2,000.
gAnswer:g C
Diff:g1
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Analyzegandgrecordgtransactionsgandgtheirgeffectsgongthegfinancialgstatements
3) Angaccountinggdevicegusedgtogrecordgincreasesgandgdecreasesgingindividualgassets,gliabilities,gcapital
,grevenue,gexpenses,gandgwithdrawalsgisga(n):
A) chartgofgaccounts.
B) account.
C) trialgbalance.
D) footing.
gAnswer:g
BgDiff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
1
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
4) Agformalgaccountgthatghasgcolumnsgforgdate,gexplanation,gpostinggreference,gdebit,gandgcreditgisgcalle
dgthe:
A) Tgaccount.
B) standardgaccountgform.
C) ledger.
D) chartgofgaccounts.
Answer:g B
Diff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
5) Agledger:
A) includesgallgcompanygaccountsgandgtheirgbalances.
B) cangreplacegthegfinancialgstatements.
C) isgthegsamegasgagchartgofgaccounts.
D) isgknowngasgagworksheet.
gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
6) Thegleftgsidegofganygaccountgisgthe:
A) debitgside.
B) creditgside.
C) endinggbalance.
D) beginninggbalance.
gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
7) Thegrightgsidegofganygaccountgisgthe:
A) debitgside.
B) creditgside.
C) endinggbalance.
D) beginninggbalance.
gAnswer:g B
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
2
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
,DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
8) Angaccountgisgsaidgtoghavegagdebitgbalancegif:
A) thegfootinggofgthegdebitsgexceedsgthegfootinggofgthegcredits.
B) theregaregmoregentriesgongthegdebitgsidegthangongthegcreditgside.
C) itsgnormalgbalancegisgdebitgwithoutgregardgtogthegamountsgorgnumbergofgentriesgongthegdebitgside.
D) theglastgentrygofgthegaccountinggperiodgwasgpostedgongthegdebitgside
.gAnswer:g A
Diff:g2
LO:g 2-1
AACSB:g AnalyticalgThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
9) Thegledgergis:
A) aggroupgofgaccountsgthatgrecordsgdatagfromgbusinessgtransactions.
B) agtoolgusedgtoginsuregthatgallgaccountsghavegnormalgbalances.
C) agchronologicalgrecordgofgthegday'sgtransactions.
D) agtoolgusedgtogensuregthatgdebitsgequalgcredits
.gAnswer:g A
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
10) Thegcreditgsidegisgalwaysgthegleftgsidegofgthegaccount
.gAnswer:g FALSE
Diff:g1
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
11) AgTgaccountgisgusedgforgdemonstrationgpurposes.
gAnswer:g TRUE
Diff:g2
LO:g 2-1
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
12) Explaingthegdifferencegbetweengexpensesgandgwithdrawals.
Answer:g Agwithdrawalgisgusedgforgrecordinggthegowner'sgwithdrawalgofgcompanygassetsgforgpersonalguse,
gandgnotgrelatedgtogthegbusiness.gExpensesgaregcostsgthegcompanygincursgingcarryinggongoperationsgingitsge
ffortgtogcreategrevenue.
Diff:g2
LO:g 2-1
AACSB:g WrittengandgOralgCommunication
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
3
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
, DOWNLOAD THE Test Bank for College Accounting Practical Approach 13th Editi
g g g g g g g g g g
on Jeffrey Slater g g
2.2 LearninggObjectiveg2-2
1) Agcompoundgentrygis:
A) agtransactionginvolvinggmoregthangonegdebitgand/orgcredit.
B) usedgtogpreparegthegtrialgbalance.
C) includedgongthegbalancegsheet.
D) foundgongthegincomegstatement.
gAnswer:g A
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
2) Thegsidegthatgincreasesgthegaccountgbalance,gbygthegrulesgofgdebitgandgcredit,gisgsaidgtogbegthe:
A) debitgside.
B) creditgside.
C) normalgbalance.
D) Nonegofgtheseganswersgisgcorrect.
gAnswer:g C
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
3) ThegAccountsgPayablegaccountgis:
A) agcapital,gandgitghasgagnormalgdebitgbalance.
B) angexpense,gandgitghasgagnormalgcreditgbalance.
C) agliability,gandgitghasgagnormalgdebitgbalance.
D) agliability,gandgitghasgagnormalgcreditgbalance
.gAnswer:g D
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
4) Angaccountgthatgwouldgbegincreasedgbygagcreditgis:
A) Cash.
B) PrepaidgExpense.
C) UtilitiesgExpense.
D) AccountsgPayable.
Answer:g D
Diff:g1
LO:g 2-2
AACSB:g ReflectivegThinking
LearninggOutcome:g Definegaccountinggterms,gaccountinggconceptsgandgprinciples
4
Copyrightg©g2016gPearsongEducation,gInc.
mynursytest.store
