?
A?
VI
TU
_S
ED
OV
PR
AP
,AP
PR TABLE OF CONTENTS
Test Bank: Century 21 Accounting General Journal, 11th Edition
By Claudia Bienias Gilbertson and Mark Lehman
PART 1. ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A
PROPRIETORSHIP
OV
CHAPTER 1 Starting a Proprietorship: Changes That Affect the Accounting Equation
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts
CHAPTER 3 Journalizing Transactions
ED
CHAPTER 4 Posting to a General Ledger
CHAPTER 5 Cash Control Systems
CHAPTER 6 Work Sheet and Adjusting Entries for a Service Business
_S
CHAPTER 7 Financial Statements for a Proprietorship
Recording Closing Entries and Preparing a Post-Closing Trial Balance for a
CHAPTER 8 Service Business
TU
PART 2. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION
CHAPTER 9 Accounting for Purchases and Cash Payments
VI
CHAPTER 10 Accounting for Sales and Cash Receipts
CHAPTER 11 Accounting for Transactions Using a General Journal
A?
CHAPTER 12 Preparing Payroll Records
CHAPTER 13 Accounting for Payroll and Payroll Taxes
CHAPTER 14 Accounting for Uncollectible Accounts Receivable
?
CHAPTER 15 Preparing Adjusting Entries and a Trial Balance
CHAPTER 16 Financial Statements and Closing Entries for a Corporation
CHAPTER 17 Financial Statement Analysis
PART 3. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION—ADJUSTMENTS AND
VALUATION
CHAPTER 18 Acquiring Capital for Growth and Development
CHAPTER 19 Accounting for Plant Assets, Depreciation, and Intangible Assets
CHAPTER 20 Accounting for Inventory
,AP
CHAPTER 21 Accounting for Accruals, Deferrals, and Reversing Entries
CHAPTER 22 End-of-Fiscal-Period Work for a Corporation
PR
PART 4. ADDITIONAL ACCOUNTING PROCEDURES
CHAPTER 23 Accounting for Partnerships
CHAPTER 24 Recording International and Internet Sales
OV
ED
_S
TU
VI
A?
?
, Name:
AP Class: Date:
Chapter 01—The Accounting Equation
Indicate whether the statement is true or false.
1. The accounting equation is most often stated as Assets + Liabilities = Owner’s Equity.
PR
a. True
b. False
ANSWER: False
POINTS: 1
OV
DIFFICULTY: Remember/Understand
2. After each transaction, the accounting equation must remain in balance.
a. True
b. False
ED
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
_S
3. A negative amount for net worth would reflect more debt than assets, something a creditor would favor.
a. True
b. False
TU
ANSWER: False
POINTS: 1 VI
DIFFICULTY: Remember/Understand
4. When two asset accounts are changed in a transaction, there must be an increase and a decrease.
a. True
b. False
A?
ANSWER: True
POINTS: 1 ?
DIFFICULTY: Remember/Understand
5. Detailed information about changes in owner’s equity is needed by owners and managers to make sound
business decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
Powered by Cognero
A?
VI
TU
_S
ED
OV
PR
AP
,AP
PR TABLE OF CONTENTS
Test Bank: Century 21 Accounting General Journal, 11th Edition
By Claudia Bienias Gilbertson and Mark Lehman
PART 1. ACCOUNTING FOR A SERVICE BUSINESS ORGANIZED AS A
PROPRIETORSHIP
OV
CHAPTER 1 Starting a Proprietorship: Changes That Affect the Accounting Equation
CHAPTER 2 Analyzing Transactions into Debit and Credit Parts
CHAPTER 3 Journalizing Transactions
ED
CHAPTER 4 Posting to a General Ledger
CHAPTER 5 Cash Control Systems
CHAPTER 6 Work Sheet and Adjusting Entries for a Service Business
_S
CHAPTER 7 Financial Statements for a Proprietorship
Recording Closing Entries and Preparing a Post-Closing Trial Balance for a
CHAPTER 8 Service Business
TU
PART 2. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION
CHAPTER 9 Accounting for Purchases and Cash Payments
VI
CHAPTER 10 Accounting for Sales and Cash Receipts
CHAPTER 11 Accounting for Transactions Using a General Journal
A?
CHAPTER 12 Preparing Payroll Records
CHAPTER 13 Accounting for Payroll and Payroll Taxes
CHAPTER 14 Accounting for Uncollectible Accounts Receivable
?
CHAPTER 15 Preparing Adjusting Entries and a Trial Balance
CHAPTER 16 Financial Statements and Closing Entries for a Corporation
CHAPTER 17 Financial Statement Analysis
PART 3. ACCOUNTING FOR A MERCHANDISING BUSINESS
ORGANIZED AS A CORPORATION—ADJUSTMENTS AND
VALUATION
CHAPTER 18 Acquiring Capital for Growth and Development
CHAPTER 19 Accounting for Plant Assets, Depreciation, and Intangible Assets
CHAPTER 20 Accounting for Inventory
,AP
CHAPTER 21 Accounting for Accruals, Deferrals, and Reversing Entries
CHAPTER 22 End-of-Fiscal-Period Work for a Corporation
PR
PART 4. ADDITIONAL ACCOUNTING PROCEDURES
CHAPTER 23 Accounting for Partnerships
CHAPTER 24 Recording International and Internet Sales
OV
ED
_S
TU
VI
A?
?
, Name:
AP Class: Date:
Chapter 01—The Accounting Equation
Indicate whether the statement is true or false.
1. The accounting equation is most often stated as Assets + Liabilities = Owner’s Equity.
PR
a. True
b. False
ANSWER: False
POINTS: 1
OV
DIFFICULTY: Remember/Understand
2. After each transaction, the accounting equation must remain in balance.
a. True
b. False
ED
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
_S
3. A negative amount for net worth would reflect more debt than assets, something a creditor would favor.
a. True
b. False
TU
ANSWER: False
POINTS: 1 VI
DIFFICULTY: Remember/Understand
4. When two asset accounts are changed in a transaction, there must be an increase and a decrease.
a. True
b. False
A?
ANSWER: True
POINTS: 1 ?
DIFFICULTY: Remember/Understand
5. Detailed information about changes in owner’s equity is needed by owners and managers to make sound
business decisions.
a. True
b. False
ANSWER: True
POINTS: 1
DIFFICULTY: Remember/Understand
Powered by Cognero
