Accounting Principles
Master Accounting Principles
Test your knowledge of fundamental accounting principles with this engaging quiz! Designed for anyone looking to enhance their understanding of accounting concepts, it covers essential topics such as equipment transactions and capital management.
- 5 multiple-choice questions
- Evaluate your grasp on accounting entries
- Ideal for students and professionals
Increase in Equipment and Increase in Capital
Equipment(Debit) and Capital(Debit)
Capital(Debit) and Equipment(Credit)
Equipment(Debit) and Capital(Credit)
Withdrew some equipment for personal use. Which answer is correct?
Equipment(Debit) and Drawing(Credit)
Cash(Debit) and Equipment(Credit)
Drawing(Debit) and Equipment(Credit)
Equipment(Debit) and Cash(Credit)
Paid office rent with cash. Which is correct?
Cash(Debit) and Rent expense(Credit)
Rent expense(debit) and Cash(credit)
$1500 equipment considered as capital of owner
Equipment(debit) and Capital(credit)
Capital(debit) and Equipment(credit)
Equipment(debit) and Equipment Expense(credit)
Equipment Expense(debit) and Equipment (credit)
Increase in account payable is recorded on debit?
Yes
No
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