财务会计题库transactionWord格式.docx
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财务会计题库transactionWord格式.docx
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Thedividendsaccountindicatesanincreaseincommonstock.
E2-15
Double-entryaccountingrecordsonlythosetransactionsaffectingtheincomestatement.
QC8
Thepurchaseofofficeequipmentforcashwouldincreasebothanassetandaliabilityaccount.
P2-49A
WhichofthefollowingisNOTanassetaccount?
A.
AccountsReceivable
B.
PrepaidRent
C.
CommonStock
D.
C
Alloftheseareassetaccounts.
Prepaidexpenseaccountsappearon:
theincomestatement.
thebalancesheet.
thestatementofretainedearningsandontheincomestatement.
boththeincomestatementandbalancesheet.
B
P2-56A
Theterm"
double-entryaccounting"
indicatesthattheaccountant:
recordsbothsidesofeachtransactionintheaccountsaffected.
computestheincomestatementandbalancesheeteffectofeachtransaction.
identifiesboththecashinflowsandthecashoutflows.
D.transactions.
usesboththegeneraljournalandthegeneralledgerwhenrecording
A
Acompanyreceivedcashinexchangeforissuingstock.Thistransactionincreasedassetsand:
a.
increasedexpenses.
b.
increasedrevenues.
c.
increasedliabilities.
d.
increasedequity.
Acompanypurchasedofficesuppliesforcash.Thistransactionincreasedassetsand:
A.increasedequity.
B.increasedliabilities.
C.increasedrevenues.
D.decreasedassets.
D
QC10
Acompanyperformedservicesforacustomeronaccount.Thistransactionincreasedassetsand:
decreasedequity.
QC3
Acompanypaidcashforemployeewages.Thistransaction:
increasedcashandincreasedexpenses.
increasedcashanddecreasedexpenses.
decreasedcashandincreasedexpenses.
decreasedcashanddecreasedrevenues.
Acompanypaidcashforanamountowedtoacreditor.Thistransactiondecreasedcashand:
decreasedrevenues.
decreasedliabilities.
decreasedexpenses.
E2-16
Theownerofabusinesspaidcashfromhispersonalcheckingaccounttopurchaseanautomobileforhispersonaluse.Thistransaction:
increasedaliabilityaccountandincreasedliabilities.
increasedassetsandincreasedowners'
equity.
isnotatransactionrecognizedbythebusiness.
Whichtypeofaccountisincreasedwhenacompanyrecordsadebt?
Expense
Retainedearnings
Liability
Noneoftheabovearecorrect.
QC1
AllofthefollowingaccountswouldbeconsideredassetsEXCEPTfor:
cash.
retainedearnings.
prepaidexpenses.
notesreceivable.
S2-9
Whattypeofaccountisprepaidinsurance?
Aliability
Anexpense
Stockholders'
equity
Anasset
'
equity?
Whichofthefollowingaccountsareastandardcomponentofstockholders
PrepaidExpenses
Dividends
AdditionalPaidInStock
UnearnedIncome
Notespayable,accountspayable,taxespayableandsalariespayableareallexamples
of:
liabilities.
revenues.
expenses.
assets.
Whichtypeofaccountisdecreasedwhenacompanypaysitsemployeeswithcash?
Aprepaidasset
Owners'
WhichofthefollowingbusinesseventswouldNOTberecordedinacompany'
saccountingrecords?
Thecompanypaidamonthlyutilitybillof$1,000.
Thecompanyissued100sharesofcommonstockfor$75,000.
Thecompanypurchasedtwoacresoflandforfutureplantexpansionfor$600,000.
Thecompanysignedacontracttoprovideservicesinthenextaccountingperiodfor$125,000.
P2-52A
Whichofthefollowingtransactionswouldincreasetotalassets?
I.
Borrowedcashonanotepayable,$80,000
II.
Providedservicesonaccount,$10,000
III.
IV.
Receivedcashfromacustomeraspaymentonaccount,$8,000
Receivedautilitybill,$1,200
IandII
IandIII
I,II,andIII
3
Considerthefollowingtransactions:
Totalassetswouldbe:
$96,800.
$88,000.
$90,000.
$98,000.
Alloftheseanswersarecorrect.
Thepaymentofanamountowedtoacreditorwould:
decreaseassets.
increasenetincome.
decreaseliabilities.
Thepaymentofsalariestoemployeeswould:
increaseassetsandincreaseliabilities.
decreasenetincomeanddecreaseassets.
increaseliabilitiesandincreasenetincome.
decreaseassetsanddecreaseliabilities.
bothdecreaseassetsanddecreaseliabilities.
Whenacompanyperformsaserviceandimmediatelycollectsthecashfromthecustomer,whichofthefollowingwouldoccur?
equitywoulddecrease.
Assetswoulddecrease.
Expenseswoulddecrease.
Netincomewouldincrease.
Purchasingsuppliesonaccountwould:
increasetotalassetsanddecreasetotalliabilities.
increasetotalliabilitiesanddecreasetotalassets.
increasetotalassetsandincreasetotalliabilities.
increasetotalliabilitiesandincrease
stockholders'
E2-14
Payingautilitybillassoonasitwasreceivedwould:
increaseexpenses.
increaseliabilities.
decreaserevenues.
increaseowners'
Borrowingmoneyfromthebankbysigninganotepayablewould:
increasestockholders'
havenoeffectonstockholders
Receivingapaymentfromacustomeronaccountwould:
increasestockholders
havenoeffectontotalassets.
Thepurchaseoflandforcashwould:
increasetotalassets.
decreasestockholders'
increasethetotaldebitsonthetrialbalance.
Ifapersonstartingabusinesshadaninvestmentofabuilding,valuedat$300,000withan$180,000outstandingmortgage,theeffectwouldbeto:
increaseassetsby$120,000.
increaseassetsby$180,000.
increasestockholders'
equityby$120,000.
equityby$300,000.
Performingservicesonaccountwould:
decreasebothassetsandliabilities.
increaseassetsanddecreasestockholders
decreaserevenueanddecreasestockholders
increasenetincomeandstockholders
Thecollectionofcashfromacashsalewould:
increaseassetsandstockholders'
increaseassetsanddecreaseliabilities.
decreaseassetsandincreasenetincome.
havenoeffectonnetincomeorstockholders
Cashdividendspaidtothestockholderswill:
increaseassetsanddecreaseliabilities.
equityorrevenue.
D.decreaseassetsanddecreasestockholders
Totalliabilitieswouldbe:
$1,200.
$81,200.
$80,000.
S2-2
Ownersinvested$8,000cashtobeginthebusiness
Providedservicesforcash,$6,000
Providedservicesonaccount,$4,000
Paidcashforexpenses,$7,500
Howmuchcashdoesthebusinesshave?
$2,500
$4,500
$6,500
$10,500
Paidcashfor
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