Special Journals
Authored by Irish Acuman
Professional Development
Professional Development
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10 questions
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1.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
Special journals are books of ______________ that record specific transactions.
Original entries
Secondary entries
Final entries
None of the above
2.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
All of the choices below are examples of transactions that are recorded in the general journal, except:
Original investments of the owner
Closing and reversing entries
Owner’s withdrawal in cash
Adjusting and correcting journal entries
3.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
Sale of merchandise on an account is recorded in Cash Receipts Journal.
True
False
4.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
There can be division of labor when special journals are used.
True
False
5.
MULTIPLE CHOICE QUESTION
10 sec • 1 pt
At the end of each month, entries in the Special Journals are totaled while the entries in the General Journals are not.
True
False
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
What is the corresponding journal entry of the transaction?
Purchased merchandise on account costing Php 10,000 from Indian Palace. Term: 2/10, N/30.
Debit: Accounts Receivable, Credit: Sales
Debit: Purchases, Credit: Accounts Payable
Debit: Accounts Payable, Credit: Purchases
Debit: Accounts Payable, Credit: Purchase Discount
7.
MULTIPLE CHOICE QUESTION
20 sec • 1 pt
The pro-forma journal entry of a _______________ is:
Dr. Purchases xx
Cr. Accounts Payable xx
Sales Journal
Cash Receipts Journal
Cash Disbursements Journal
Purchases Journal
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