NOCTI ACCOUNTING EXAM SCRIPT 2026
VERIFIED REVIEW QUESTIONS AND
SOLUTIONS GRADED A+
⩥ Capital. Answer: The journal entry to record cash investment by the
owner would be to debit Cash and credit
⩥ Increase owner's equity by $15,000. Answer: Jason invested $15,000
cash to start his business. How would this transaction impact the basic
accounting equation?
⩥ $5,145. Answer: Debbie has a balance of $8,600 in Accounts
Receivable before receiving a check for $3,455 from a customer she had
worked for last month. What will be the balance in Accounts Receivable
after she records the receipt of this check?
⩥ Posting. Answer: Copying debits and credits from a journal to a ledger
is a process known as
⩥ GJ8. Answer: When posting the adjusting entries from page 8 of a
general journal, the correct posting reference in the ledger accounts
would be
, ⩥ trial balance. Answer: To prove the accuracy of posting, an accountant
uses the
⩥ Controlling account. Answer: accounting in a general ledger that
summarizes all of the individual accounts from a subsidiary ledger
⩥ $646.00. Answer: An employee works 38 hours per week, is paid
$8.50 per hour, and is paid bi-weekly. What is the gross pay the
employee will receive each pay period?
⩥ W-2 form. Answer: Annual statement of earnings and tax deductions
⩥ $164.15. Answer: An employee earns a commission of 7 percent of
total sales. This week the employee's total sales were $2,345. What was
the commission earned for this week?
⩥ unemployment tax. Answer: The tax that is paid by employers to
provide temporary relief for individuals who are out of work is called
______ tax.
⩥ EFT (electronic funds transfer). Answer: A direct deposit made to an
employee's checking or savings account is also known as a/an
⩥ cancelled checks. Answer: Checks that are paid by the bank and then
removed from the depositor's account are called ________ checks.
VERIFIED REVIEW QUESTIONS AND
SOLUTIONS GRADED A+
⩥ Capital. Answer: The journal entry to record cash investment by the
owner would be to debit Cash and credit
⩥ Increase owner's equity by $15,000. Answer: Jason invested $15,000
cash to start his business. How would this transaction impact the basic
accounting equation?
⩥ $5,145. Answer: Debbie has a balance of $8,600 in Accounts
Receivable before receiving a check for $3,455 from a customer she had
worked for last month. What will be the balance in Accounts Receivable
after she records the receipt of this check?
⩥ Posting. Answer: Copying debits and credits from a journal to a ledger
is a process known as
⩥ GJ8. Answer: When posting the adjusting entries from page 8 of a
general journal, the correct posting reference in the ledger accounts
would be
, ⩥ trial balance. Answer: To prove the accuracy of posting, an accountant
uses the
⩥ Controlling account. Answer: accounting in a general ledger that
summarizes all of the individual accounts from a subsidiary ledger
⩥ $646.00. Answer: An employee works 38 hours per week, is paid
$8.50 per hour, and is paid bi-weekly. What is the gross pay the
employee will receive each pay period?
⩥ W-2 form. Answer: Annual statement of earnings and tax deductions
⩥ $164.15. Answer: An employee earns a commission of 7 percent of
total sales. This week the employee's total sales were $2,345. What was
the commission earned for this week?
⩥ unemployment tax. Answer: The tax that is paid by employers to
provide temporary relief for individuals who are out of work is called
______ tax.
⩥ EFT (electronic funds transfer). Answer: A direct deposit made to an
employee's checking or savings account is also known as a/an
⩥ cancelled checks. Answer: Checks that are paid by the bank and then
removed from the depositor's account are called ________ checks.
