Concept Check No.1
Authored by Arzel Cinches
Other
12th Grade
Used 16+ times
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6 questions
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1.
OPEN ENDED QUESTION
3 mins • 2 pts
Why do we adjust journal entries?
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2.
REORDER QUESTION
1 min • 2 pts
Arrange in order the journalizing process.
Fill out the date column.
Write the debit account title on the left most part under account and explanation column.
Write with indention the credit account title under account and explanation column after the debit account title/s.
Write the credit amount on the credit column.
Write the debit amount on the debit column.
3.
DRAG AND DROP QUESTION
1 min • 2 pts
PREPAID RENT (a)
ALLOWANCE FOR BAD DEBTS (b)
UNEARNED REVENUE (c)
4.
MATCH QUESTION
1 min • 2 pts
Match the following account titles to its respective major accounts
Owner's Equity
Utilities Expense
Income
Professional Fee
Asset
Owner's Drawing
Liability
Prepaid Expense
Expense
Unearned Income
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Adjusting entries are recorded at the beginning of the accounting period before the trial balance is prepared to reflect the correct balance of the accounts.
TRUE
FALSE
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Rent expired during the month is Php 3,150. The original amount was at Php 15,000. How will the adjusted entry look like?
Rent expired during the month is Php 3,150. The original amount was at Php 15,000. How will the adjusted entry look like?
Dr: Prepaid Rent Php 3,150.
Cr: Rent Payable
Php 3,150.
Dr: Rent Expense Php 3,150.
Cr: Rent Payable
Php 3,150.
Dr: Rent Payable Php 3,150.
Cr: Prepaid Rent
Php 3,150.
Dr: Rent Expense Php 3,150.
Cr: Prepaid Rent
Php 3,150.
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