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- 1. Multiple Choice
"The owner invested cash BD100 in the business" Cr. side for this transaction is
Capital
Revenue
Drawings
Non of the answers
- 2. Multiple Choice
"Performed service BD60, and received BD20". Dr side of this transaction in journal entries is
Dr. Cash 20 and Dr. Account Receivable 40
Dr. Account Receivable 40 only
Dr. Account payable 40
Dr. Cash only
- 3. Multiple Choice
"Company purchased equipment for BD3000 cash" what is the Dr side for this transaction?
Equipment
Cash
Capital
Asset
- 4. Multiple Choice
"The Company paid cash BD20 to creditor". It recorded in the general journal
Dr. Account payable 20 , Cr. Cash 20
Dr. Cash 20, Cr. Account payable 20
Dr. Account Receivable 20, Cr. Cash 20
Dr. Cash 20, Cr. Account receivable 20
- 5. Multiple Choice
"Company received cash BD4,000 from customer, which was on account ". It recorded in the general journal
Dr. Cash 4000, Cr. Account Receivable 4000
Dr. Account Receivable 4000, Cr. Cash 4000
Dr. Account payable 4000, Cr. Cash 4000
None
- 6. Multiple Choice
Cr. side in journal entry is
Liability, Revenues, and Capital
Liability, Revenues, and Drawings
Assets, Revenues, and Capital
Liability, Expenses, and Capital
- 7. Multiple Choice
Normal Balance of Prepaid Insurance is
Dr. & Cr.
Cr. side
Dr. side
None of the answers
- 8. Multiple Choice
Decrease in account receivable
Account receivable will be recorded in ........... of the journal entry
Cr. side
Dr. side
Dr. & Cr.
None of the answers
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