General Ledger Recap

General Ledger Recap

9th Grade

7 Qs

quiz-placeholder

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General Ledger Recap

General Ledger Recap

Assessment

Quiz

Business

9th Grade

Medium

Created by

Woodridge Connect

Used 13+ times

FREE Resource

7 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following accounts can NEVER have a credit balance?

Bank

Current Income

Capital

Wages

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following will NEVER have a debit balance?

Bank

Current Income

Equipment

Wages

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Which of the following could either have a debit balance OR a credit balance?

Bank

Current Income

Equipment

Capital

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When balancing the bank account, what is the "missing figure" called?

Balance b/d

Balance c/d

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When balancing the bank account, what is the final balance called?

Balance b/d

Balance c/d

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When posting the CRJ to the GL, the bank total is posting on the _____________ side of the bank account and all the contra accounts are posting on the _______________ side of their accounts.

Debit, Credit

Debit, Debit

Credit, Debit

Credit, Credit

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When posting the CPJ to the GL, the bank total is posting on the _____________ side of the bank account and all the contra accounts are posting on the _______________ side of their accounts.

Debit, Credit

Debit, Debit

Credit, Debit

Credit, Credit