Exam (elaborations)
Bookkeeping Test questions with complete solutions graded A+
- Course
- Institution
Bookkeeping Test questions with complete solutions graded A+
[Show more]
Content preview
Bookkeeping TestA listing of the account numbers and titles but without account balances is the ______________ of
accounts. - correct answer ✔✔Chart
Prior to approving a vendor's invoice for payment, the invoice, receiving ticket, and ______________
order should be compared. - correct answer ✔✔Purchases
The report that sorts a company's accounts receivables into current, 1-30 days past due, 31-60 days past
due, etc. is referred to as the ______________ of accounts receivable. - correct answer ✔✔Aging
The amount of insurance premiums that have not yet expired is reported as an ______________. -
correct answer ✔✔Assets
Adjusting entries are recorded in the ______________ journal. - correct answer ✔✔General
The bank statement has an ending balance of $1,700. There are $600 of deposits in transit
and $2,100 of checks outstanding. The adjusted balance per the bank statement is $______________. -
correct answer ✔✔$200.00
Which of the following will increase the balance in a liability account? - correct answer ✔✔Credit
Which of the following will increase the balance in a revenue account? - correct answer ✔✔Credit
Rent Expense, Wages Expense, and Advertising Expense are expected to have ____________ balances. -
correct answer ✔✔Debit
10. The cost of the land that is used as the site of a new warehouse should be depreciated. - correct
answer ✔✔False
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now