Chapter 2 Review - T-Account and Transactions

Place the correct transaction on the debit or credit side.

a

Sold Services on Account

Receive Cash on Account.

Drag two transactions to the correct side of the T-Account.

a

b

Paid Cash on Account.

Received Cash on Account.

Bought Supplies on Account.

Sold Services on Account.

Drag two transactions to the correct side of the T-Account.

a

b

Bought Supplies on Account.

Received Cash on Account from West End. 

Paid Cash on Account.

Sold Services on Account to West End.

Drag the transaction to the correct side of the T-Account.

a

b

Sold Services on Account. 

Paid Cash .....

Bought Supplies on Account.

Received Cash ......

Which two owner's equity accounts increase on the credit side of the T Account?

• Capital

• Drawing

• Expense

• Sales

Which two owner's equity accounts increase on the debit side of its T Account?

• Capital

• Drawing

• Expense

• Sales

Drag the correct account or transaction with the following categories.

Groups:

(a) Increase with a Debit

,

(b) Decrease with a Credit

,

(c) Increase with Credit

,

(d) Decrease with a Debit

• Sales

• Supplies

• Capital

• Accounts Payable
• Prepaid Insurance

• A.R. - Received Cash on Account.

• Paid Cash

• Received Cash

Drag two transactions to correct side of the T-account.

b

c

Received Cash from Sales.

Bought Supplies on Account

Sold Services on Account.

Drag the transaction to the correct T-account.

a

Paid cash to owner for personal use.

Paid cash for rent expense. 

Received cash from owner as investment.