AAMI ACCOUNTING 1 FINAL REVIEW
EXAM SCRIPT 2026 SOLVED QUESTIONS
CONFIRMED
⫸ Fees of ____ were earned from clients who had paid in advance
Answer: debit cash, credit unearned service revenue
⫸ accrued salaries are ___ Answer: debit salaries and wages expense,
credit salaries and wages payable
⫸ the supplies account has a balance of 2600, supplies on hand are 800
Answer: debit supplies expense 1800, credit supplies 1800
⫸ Expired insurance is 900 Answer: debit insurance expense 900, credit
prepaid insurance 900
⫸ Issued a check for 900 to pay the monthly rent Answer: debit rent
expense 900, credit cash 900
⫸ purchased merchandise for 420 on account Answer: debit inventory
420, credit accounts payable 420
⫸ the owner invested an additional 20,000 cash in a business Answer:
debit cash 20000, credit capital 20000
EXAM SCRIPT 2026 SOLVED QUESTIONS
CONFIRMED
⫸ Fees of ____ were earned from clients who had paid in advance
Answer: debit cash, credit unearned service revenue
⫸ accrued salaries are ___ Answer: debit salaries and wages expense,
credit salaries and wages payable
⫸ the supplies account has a balance of 2600, supplies on hand are 800
Answer: debit supplies expense 1800, credit supplies 1800
⫸ Expired insurance is 900 Answer: debit insurance expense 900, credit
prepaid insurance 900
⫸ Issued a check for 900 to pay the monthly rent Answer: debit rent
expense 900, credit cash 900
⫸ purchased merchandise for 420 on account Answer: debit inventory
420, credit accounts payable 420
⫸ the owner invested an additional 20,000 cash in a business Answer:
debit cash 20000, credit capital 20000
