Which entry is correct when cash is withdrawn by the owner for personal use?

Drawings A/C Dr. To Cash A/C

Cash A/C Dr. To Drawings A/C

Cash A/C Dr. To Capital A/C

Capital A/C Dr. To Cash A/C

Correct! Wrong!

Journal entries are recorded?

By account type

By monetary value

In chronological order

By monetary value

Correct! Wrong!

Which of the following is a compound journal entry?

Purchases A/C Dr. To Accounts Payable A/C

Cash A/C Dr. Salaries A/C Dr. To Bank A/C

Rent A/C Dr. To Cash A/C

Cash A/C Dr. To Sales A/C

Correct! Wrong!

Which rule applies to expenses in journalizing?

Debit all incomes and gains

Debit all expenses and losses

Credit all expenses and losses

Credit all assets

Correct! Wrong!

The term “To” in journal entries is traditionally written?

Before the credit account

Before the debit account

Before the narration

At the top of the journal page

Correct! Wrong!

Which of the following is a correct journal entry for purchasing office supplies on credit?

Office Supplies A/C Dr. To Cash A/C

Accounts Payable A/C Dr. To Office Supplies A/C

Office Supplies A/C Dr. To Accounts Payable A/C

Cash A/C Dr. To Office Supplies A/C

Correct! Wrong!

Which of the following is not recorded in a journal entry?

Service revenue

Non-financial events

Credit purchases

Cash transactions

Correct! Wrong!

Which account is debited when the business purchases furniture for cash?

Furniture A/C

Purchases A/C

Cash A/C

Sales A/C

Correct! Wrong!

What is the main purpose of a narration in a journal entry?

Post to ledger

Explain the transaction

Record amounts

Adjust balances

Correct! Wrong!

If cash is received from sales, which account is credited?

Capital A/C

Debtors A/C

Cash A/C

Sales A/C

Correct! Wrong!

Journal Entry (I) Problems MCQs 2

Which entry is correct when cash is withdrawn by the owner for personal use?

Journal entries are recorded?

Which of the following is a compound journal entry?

Which rule applies to expenses in journalizing?

The term “To” in journal entries is traditionally written?

Which of the following is a correct journal entry for purchasing office supplies on credit?

Which of the following is not recorded in a journal entry?

Which account is debited when the business purchases furniture for cash?

What is the main purpose of a narration in a journal entry?

If cash is received from sales, which account is credited?

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