Transaction Analysis - Monopoly

Flashcard
•
Business
•
9th - 12th Grade
•
Hard
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10 questions
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1.
FLASHCARD QUESTION
Front
When you get your $1,500.00 Initial investment what is the transaction? Options: Debit Cash; Credit Revenue, Debit Revenue; Credit Cash, Debit Cash; Credit Owner's Capital, Debit Owner's Capital; Credit Cash
Back
Debit Cash; Credit Owner's Capital
2.
FLASHCARD QUESTION
Front
In monopoly, when you purchase property what is the transaction?
Back
Debit Real Estate; Credit Cash
3.
FLASHCARD QUESTION
Front
In monopoly, when you purchase houses what is the transaction?
Back
Debit Building; Credit Cash
4.
FLASHCARD QUESTION
Front
In monopoly, when you sell houses what is the transaction?
Back
Debit Cash; Credit Building
5.
FLASHCARD QUESTION
Front
In monopoly, when you mortgage property what is the transaction? Options: Debit Cash; Credit Mortgage, Debit Mortgage; Credit Cash, Debit Cash; Credit Owner's Capital, Debit Owner's Capital; Credit Cash
Back
Debit Cash; Credit Mortgage
6.
FLASHCARD QUESTION
Front
In monopoly, when you land on others property and pay them rent, what is the transaction?
Back
Debit Rent Expense; Credit Cash
7.
FLASHCARD QUESTION
Front
What is the normal balance of Revenue and Owner's Capital? Respond debit or credit only!
Back
credit, Credit, CREDIT
Answer explanation
The normal balance is the side where they increase in value. These are both right side (credit) accounts.
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