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- 1. Fill in the Blank
Depreciation on equipment is classified as ______________________.
- 2. Fill in the Blank
Expenses paid in advance is classified under ______________________________.
- 3. Fill in the Blank
Unearned revenue is classified as _________________________ for the business.
- 4. Fill in the Blank
Revenue was already performed but not yet received any cash is classified under ____________________________________.
- 5. Fill in the Blank
Accrued expense is also known as ____________________________.
- 6. Fill in the Blank
Account to be contra to Depreciation expense is ____________________________.
- 7. Multiple Choice
Prepaid advertising has been used for the month.
What is the account to be credit?
Cash
Prepaid advertising
Advertising expense
Prepaid expense
- 8. Multiple Choice
Bad debt expense was RM500.
Which journal is correct?
Dr Bad debt expense RM500
Dr Account Receivable RM500
Cr Bad debt expense RM1,000
Cr Account Receivable RM1,000
- 9. Multiple Choice
Unearned barber service RM1,700 was already earned.
What is account to be debit?
Unearned barber service
Barber service
Bank
Unearned revenue
- 10. Multiple Choice
Accrued wages was RM2,490.
Which journal is correct?
Dr Wages expense RM2,490
Dr Accrued wages RM2,490
Cr Accrued wages RM2,940
Cr Wages expense RM2,940
- 11. Multiple Choice
Rent expense for the year still unpaid.
What is account to be debit?
Rent expense
Accrued expense
Accrued rent
Account Payable
- 12. Multiple Choice
Supplies on hand was RM1,500.
Which journal is correct?
Dr Supplies expense
Cr Supplies
Dr Supplies
Cr Supplies expense
Dr Supplies expense
Cr Prepaid supplies
Dr Supplies
Cr Prepaid supplies
- 13. Multiple Choice
Depreciation for Saloon Equipment was RM350 per year.
What is account to be credit?
Account Receivable
Account Payable
Depreciation expense
Accumulated depreciation
- 14. Multiple Choice
We need to change the word 'Expense' or 'Revenue' accordingly to the question.
TRUE
FALSE
- 15. Multiple Choice
Economic Entity assumption was the reason why the adjustment need to be record.
TRUE
FALSE
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