ASB BOOKKEEPING Questions With Solutions
100% Correct
Chart of accounts A Systematically arranged listing of accounts
Current assets.(debit)
Fixed assets (debit)
Current liabilities (credit)
Trust accounts (debit)
Equity (credit)
Income (credit)
Expense (debit)
Assets 101 Cash in Bank, Checking
102 Petty Cash
103 Cash in Bank, Savings
105 Change Account
106 Accounts Receivable
107 Prepaid Expenditures
109 Student Store Inventory
, ASB BOOKKEEPING Questions With Solutions
100% Correct
110 Other Assets
111 Fixed Assets (Equipment
Liabilities 01 Accounts Payable
209 Other Liabilities
Trust account Sum of money held by the student body
210 Scholarship Accounts
2101 LMN Memorial
2102 DEF Scholarship
220 Class Accounts
2204 Class of '11
2205 Class of '12
2206 Class of '13
2207 Class of '14
100% Correct
Chart of accounts A Systematically arranged listing of accounts
Current assets.(debit)
Fixed assets (debit)
Current liabilities (credit)
Trust accounts (debit)
Equity (credit)
Income (credit)
Expense (debit)
Assets 101 Cash in Bank, Checking
102 Petty Cash
103 Cash in Bank, Savings
105 Change Account
106 Accounts Receivable
107 Prepaid Expenditures
109 Student Store Inventory
, ASB BOOKKEEPING Questions With Solutions
100% Correct
110 Other Assets
111 Fixed Assets (Equipment
Liabilities 01 Accounts Payable
209 Other Liabilities
Trust account Sum of money held by the student body
210 Scholarship Accounts
2101 LMN Memorial
2102 DEF Scholarship
220 Class Accounts
2204 Class of '11
2205 Class of '12
2206 Class of '13
2207 Class of '14
