Journal Entry (I) Problems MCQs 2

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

Non-financial events

Cash transactions

Service revenue

Credit purchases

Correct! Wrong!

Journal entries are recorded?

By monetary value

In chronological order

By account type

Correct! Wrong!

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

Before the debit account

Before the credit account

At the top of the journal page

Before the narration

Correct! Wrong!

Which entry is correct when cash is withdrawn by the owner for personal use?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 Capital A/C

Capital A/C Dr. To Cash A/C

Cash A/C Dr. To Drawings A/C

Correct! Wrong!

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

Record amounts

Adjust balances

Post to ledger

Explain the transaction

Correct! Wrong!

Which of the following is a compound journal entry?

Rent A/C Dr. To Cash A/C

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

Correct! Wrong!

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

Cash A/C

Sales A/C

Capital A/C

Debtors A/C

Correct! Wrong!

Which rule applies to expenses in journalizing?

Credit all expenses and losses

Debit all incomes and gains

Debit all expenses and losses

Credit all assets

Correct! Wrong!

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

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

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

Correct! Wrong!

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

Purchases A/C

Cash A/C

Sales A/C

Furniture A/C

Correct! Wrong!

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

Journal entries are recorded?

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

Which entry is correct when cash is withdrawn by the owner for personal use?

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

Which of the following is a compound journal entry?

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

Which rule applies to expenses in journalizing?

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

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

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