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    Special Journals Theory Quiz

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    Liwliwa Bruno
    The document contains a series of multiple choice questions testing knowledge of accounting concepts and journals. Specifically, it asks about subsidiary ledgers, control accounts, where a bookkeeper would look up customer balances, what types of transactions are recorded in various journals like cash payments and cash receipts journals, and which journal a series of sample transactions should be recorded in.

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    Special Journals Theory Quiz

    Uploaded by

    Liwliwa Bruno
    121 views2 pages
    The document contains a series of multiple choice questions testing knowledge of accounting concepts and journals. Specifically, it asks about subsidiary ledgers, control accounts, where a bookkeeper would look up customer balances, what types of transactions are recorded in various journals like cash payments and cash receipts journals, and which journal a series of sample transactions should be recorded in.

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    The document contains a series of multiple choice questions testing knowledge of accounting concepts and journals. Specifically, it asks about subsidiary ledgers, control accounts, where a bookkeeper would look up customer balances, what types of transactions are recorded in various journals like cash payments and cash receipts journals, and which journal a series of sample transactions should be recorded in.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    121 views2 pages

    Special Journals Theory Quiz

    Uploaded by

    Liwliwa Bruno
    The document contains a series of multiple choice questions testing knowledge of accounting concepts and journals. Specifically, it asks about subsidiary ledgers, control accounts, where a bookkeeper would look up customer balances, what types of transactions are recorded in various journals like cash payments and cash receipts journals, and which journal a series of sample transactions should be recorded in.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    General Instructions: Chose the best answer.

    Theories and Short Problems

    1. A supporting record used to track changes in the individual account balances that make up
    a single general ledger account.
    a. Special Journal
    b.Control Account
    c. Subsidiary Ledger

    2. The supporting record used to track the amount payable to each of a company’s creditors is
    an example of a
    a. subsidiary ledger.
    b. control account.
    c. special journal.
    d. general journal.

    3. In a set of accounting records, where would a bookkeeper look to determine the amount
    due from a particular customer?
    a. Accounts receivable control account
    b. Accounts receivable subsidiary ledger
    c. Accounts payable control account
    d. Accounts payable subsidiary ledger

    4. Every transaction recorded in a cash payments journal includes a


    a. debit to cash.
    b. credit to cash.
    c. debit to accounts receivable and a credit to a revenue account.
    d. credit to accounts payable.

    5. Which of the following transactions would a bookkeeper record in a cash receipts journal?
    a. Investments of cash into the business by its owner
    b. Sale of service on account
    c. Entry to record supplies used during the accounting period
    d. Purchase of office supplies for cash
    Indicate in which of the five journals each transaction must be recorded. Write the letter only.
    A. Sales Journal
    B. Cash Receipts Journal
    C. Purchases Journal
    D. Cash Payments Journal
    E. General Journal

    _____ 1. Sold merchandise on account.


    _____ 2. Paid cash for rent.
    _____ 3. Purchased merchandise on account.
    _____ 4. Returned merchandise bought due to wrong specifications.
    _____ 5. Purchased a computer desk top on account.
    _____ 6. Issued a promissory note to settle an account.
    _____ 7. Sold merchandise on account.
    _____ 8.Received a note in settlement of customer’s account.
    _____ 9. Bought goods. Terms: 2/10, n/30.
    _____ 10. Paid Salaries
    _____ 11. Purchased merchandise, COD.
    _____ 12. Paid telephone expense
    _____ 13. Purchased supplies on account.
    _____ 14. Bought goods on account.
    _____ 15. Purchased merchandise. Terms: 2/10, n/30
    _____ 16. The owner made additional investment in the business.
    _____ 17. Purchased equipment for cash.
    _____ 18. Bought supplies on credit.
    _____ 19. Paid an account in full.
    _____ 20. Owner withdrew cash for personal use.
    _____ 21. Paid workers’ salaries.
    _____ 22. Paid utilities for the month.
    _____ 23. Sold merchandise on account.
    _____ 24. Received the bill from Ilocos Electric Corp.
    _____ 25. Received cash for goods sold.

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