Journal Entry (I) Problems MCQs 2

Journal entries are recorded?

By monetary value

By account type

In chronological order

By monetary value

Correct! Wrong!

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

Cash transactions

Credit purchases

Service revenue

Non-financial events

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

Cash A/C Dr. To Sales A/C

Rent A/C Dr. To Cash A/C

Correct! Wrong!

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

At the top of the journal page

Before the credit account

Before the debit account

Before the narration

Correct! Wrong!

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

Sales A/C

Purchases A/C

Cash A/C

Furniture A/C

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

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

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

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

Correct! Wrong!

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

Debtors A/C

Capital A/C

Sales A/C

Cash 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!

Which entry is correct when cash is withdrawn by the owner for personal use?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 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 Entry (I) Problems MCQs 2

Excellent ***

Very Good **

Good *

Need Improvement

Journal entries are recorded?

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

Which of the following is a compound journal entry?

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

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

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

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

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

Which entry is correct when cash is withdrawn by the owner for personal use?

Which rule applies to expenses in journalizing?

Submit a Comment Cancel reply

Search