Journal Entry (I) Problems MCQs 2

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

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

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

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

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

Correct! Wrong!

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

Credit purchases

Service revenue

Cash transactions

Non-financial events

Correct! Wrong!

Which entry is correct when cash is withdrawn by the owner for personal use?

Capital A/C Dr. To Cash A/C

Cash A/C Dr. To Capital A/C

Cash A/C Dr. To Drawings A/C

Drawings A/C Dr. To Cash A/C

Correct! Wrong!

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

Sales A/C

Cash A/C

Furniture A/C

Purchases A/C

Correct! Wrong!

Which of the following is a compound journal entry?

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

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

Rent A/C Dr. To Cash A/C

Cash A/C Dr. To Sales A/C

Correct! Wrong!

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

At the top of the journal page

Before the narration

Before the credit account

Before the debit account

Correct! Wrong!

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

Explain the transaction

Post to ledger

Record amounts

Adjust balances

Correct! Wrong!

Which rule applies to expenses in journalizing?

Credit all assets

Debit all incomes and gains

Credit all expenses and losses

Debit all expenses and losses

Correct! Wrong!

Journal entries are recorded?

By monetary value

By account type

In chronological order

Correct! Wrong!

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

Debtors A/C

Cash A/C

Capital A/C

Sales A/C

Correct! Wrong!

Journal Entry (I) Problems MCQs 2

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Journal Entry (I) Problems MCQs 2

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Which entry is correct when cash is withdrawn by the owner for personal use?

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

Which of the following is a compound journal entry?

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

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

Which rule applies to expenses in journalizing?

Journal entries are recorded?

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

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