Double Entry

Double Entry

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9 Qs

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Assessment

Quiz

Financial Education

9th - 12th Grade

Medium

Created by

Sook Theng Fong

Used 1+ times

FREE Resource

9 questions

Show all answers

1.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Business withdrew $500 from the bank to be put in the office.

Debit:

Cash at bank

$500

Credit:

Cash at bank

$500

Debit:

Cash in hand

$500

Credit:

Cash in hand

$500

2.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business issued a cheque of $1,000 for a laptop.

Debit:

Office equipment

$1000

Credit:

Office equipment

$1000

Debit:

Cash at bank

$1,000

Credit:

Cash at bank

$1,000

3.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The owner withdrew $600 worth of inventory for his own use.

Debit:

Inventory

$600

Credit:

Inventory

$600

Debit:

Drawings

$600

Credit:

Drawings

$600

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business paid $800 for utilities by cheque.

Debit:

Utilities expense

$800

Debit:

Cash at bank

$800

Credit:

Cash at bank

$800

Credit:

Utilities expense

$800

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business received $150 cash at commission income.

Debit:

Cash in hand

$150

Debit:

Commission income

$150

Credit:

Commission income

$150

Credit:

Cash in hand

$150

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business took up a loan of $100,000 from Swiss Bank.

Credit:

Bank loan

$100,000

Debit:

Bank loan

$100,000

Credit:

Cash at bank

$100,000

Debit:

Cash at bank

$100,000

7.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business bought inventory worth $5,000 on credit from Mickey Trading.

Credit:

Inventory

$5,000

Debit:

Trade payable - Mickey Trading

$5,000

Debit:

Inventory

$5,000

Credit:

Trade payable - Mickey Trading

$5,000

8.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business returned a damaged inventory worth $200 to credit supplier Mickey Trading.

Credit:

Inventory

$200

Debit:

Trade payable - Mickey Trading

$200

Debit:

Inventory

$200

Credit:

Trade payable - Mickey Trading

$200

9.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

The business bought laptop worth $3,000 on credit from Challenger Electronics.

Credit:

Office equipment

$3,000

Debit:

Trade payable - Challenger Electronics

$3,000

Credit:

Trade payable - Challenger Electronics

$3,000

Debit:

Office equipment

$3,000