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Accounting I - Objective 3.01

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accounting I high school test
Kathleen Keller
Quiz by Kathleen Keller, updated more than 1 year ago
Kathleen Keller
Created by Kathleen Keller over 7 years ago
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Resource summary

Question 1

Question
Digital Electronics paid $189 cash for supplies from We Deliver Supplies. What is the journal entry for Digital Electronics to record this transaction?
Answer
  • Debit Cash, $189; credit Supplies Expense, $189.
  • Debit Cash, $189; credit Supplies, $189.
  • Debit Supplies Expense, $189; credit Cash, $189.
  • Debit Supplies, $189; credit Cash, $189.

Question 2

Question
Taco Home paid cash for advertising, $400. What is the journal entry to record this transaction?
Answer
  • Debit Advertising, $400; credit Cash, $400.
  • Debit Advertising Expense, $400; credit Cash, $400.
  • Debit Cash, $400; credit Advertising, $400.
  • Debit Cash, $400; credit Advertising Expense, $400.

Question 3

Question
Valley Products paid cash to Carolina Distributors, $882; covering Purchase Invoice No. 1734 for $900, less a 2% discount, $18.00. What is the journal entry for Valley Products to record this transaction?
Answer
  • Debit Accounts Payable/ Carolina Distributors, $900; credit Purchases Discount $18 and credit Cash $882.
  • Debit Accounts Payable/ Carolina Distributors, $882; credit Cash, $882.
  • Debit Accounts Payable/ Carolina Distributors, $900; credit Cash, $900.
  • Debit Purchases Discount $18 and debit Cash $882; credit Accounts Payable/ Carolina Distributors $900.

Question 4

Question
Tiny's Toys returned merchandise that was purchased on account to Jonah's Distributing, $150. What is the journal entry for Tiny's Toys to record this transaction?
Answer
  • Debit Accounts Payable/Jonah's Distributing, $150; Credit Purchases Returns and Allowances, $150.
  • Debit Accounts Receivable/Jonah's Distributing, $150; Credit Purchases Returns and Allowances, $150.
  • Debit Purchases Returns and Allowances, $150; Credit Purchases, $150.
  • Debit Purchases Returns and Allowances, $150; Credit Accounts Payable/ Jonah's Distributing, $150.

Question 5

Question
Curt's Cabinets paid cash to Phil's Fasteners, $441; covering Purchase Invoice No. 54 for $450, less a 2% discount, $9.00. What is the journal entry for Curt's Cabinets to record this transaction?
Answer
  • Debit Accounts Payable/ Phil's Fasteners, $441; credit Cash, $441.
  • Debit Accounts Payable/ Phil's Fasteners, $450; credit Cash, $450.
  • Debit Accounts Payable/ Phil's Fasteners, $450; credit Purchases Discount $9 and credit Cash $441.
  • Debit Purchases Discount $9 and debit Cash $441; credit Accounts Payable/ Phil's Fasteners $450.

Question 6

Question
Frazier's Car Stereo paid cash on account to Sound Wire Supply, $395, covering Purchase Invoice No. 3279. What is the journal entry for Frazier's Car Stereo to record this transaction?
Answer
  • Debit Accounts Payable/ Sound Wire Supply $395; credit Cash, $395.
  • Debit Accounts Receivable/Sound Wire Supply, $395; credit Cash, $395.
  • Debit Cash $395; credit Accounts Payable/ Sound Wire Supply $395.
  • Debit Cash $395; credit Accounts Receivable/ Sound Wire Supply $395.

Question 7

Question
The Antique Shop purchased merchandise on account from Old Timers Supply for $128. What is the journal entry for The Antique Shop to record this transaction?
Answer
  • Debit Accounts Payable/Old Timers Supply, $128; Credit Purchases, $128.
  • Debit Accounts Receivable/Old Timers Supply, $128; Credit Purchases $128.
  • Debit Purchases, $128; Credit Accounts Payable/Old Timers Supply, $128.
  • Debit Purchases, $128; Credit Accounts Receivable/Old Timers Supply, $128.

Question 8

Question
Champs Country Club paid cash to Masters Jacket Supply, $931; covering Purchase Invoice No. 33 for $950, less a 2% discount, $19.00. What is the journal entry for Champs Country Club to record this transaction?
Answer
  • Debit Accounts Payable/ Masters Jacket Supply, $931; credit Cash, $931.
  • Debit Accounts Payable/ Masters Jacket Supply, $950; credit Cash, $950.
  • Debit Accounts Payable/ Masters Jacket Supply, $950; credit Purchases Discount $19 and credit Cash $931.
  • Debit Purchases Discount $19 and debit Cash $931; credit Accounts Payable/ Masters Jacket Supply $950.

Question 9

Question
Computer Phones, Inc. paid cash to Software Supply, $817; covering Purchase Invoice No.2254 for $860, less a 5% discount, $43.00. What is the journal entry for Computer Phones, Inc. to record this transaction?
Answer
  • Debit Accounts Payable/ Software Supply, $817; credit Cash, $817.
  • Debit Accounts Payable/ Software Supply, $860; credit Cash, $860.
  • Debit Accounts Payable/ Software Supply, $860; credit Purchases Discount $43 and credit Cash $817.
  • Debit Purchases Discount $43 and debit Cash $817; credit Accounts Payable/ Software Supply $860.

Question 10

Question
Billy Bob's B-B-Q paid cash to Pork Distributors, $418; covering Purchase Invoice No. 1921 for $440, less a 5% discount, $22.00. What is the journal entry for Billy Bob's B-B-Q to record this transaction?
Answer
  • Debit Accounts Payable/ Pork Distributors, $418; credit Cash, $418.
  • Debit Accounts Payable/ Pork Distributors, $440; credit Cash, $440.
  • Debit Accounts Payable/ Pork Distributors, $440; credit Purchases Discount $22 and credit Cash $418.
  • Debit Purchases Discount $22 and debit Cash $418; credit Accounts Payable/ Pork Distributors $440.

Question 11

Question
Impressive Signs paid cash to Peoria Paints, $513; covering Purchase Invoice No. 77 for $540, less a 5% discount, $27.00. What is the journal entry for Impressive Signs to record this transaction?
Answer
  • Debit Accounts Payable/ Peoria Paints, $540; credit Purchases Discount $27 and credit Cash $513.
  • Debit Accounts Payable/ Peoria Paints, $513; credit Cash, $513.
  • Debit Accounts Payable/ Peoria Paints, $540; credit Cash, $540.
  • Debit Purchases Discount $27 and debit Cash $513; credit Accounts Payable/ Peoria Paints $540.

Question 12

Question
Icy Treats purchased merchandise for cash from Flavor Supply for $100. What is the journal entry for Icy Treats to record this transaction?
Answer
  • Debit Accounts Payable/ Flavor Supply, $100; credit Purchases, $100.
  • Debit Cash, $100; credit Purchases, $100.
  • Debit Purchases, $100; credit Accounts Payable/ Flavor Supply, $100.
  • Debit Purchases, $100; credit Cash, $100.

Question 13

Question
Wally's Watches returned merchandise that was purchased on account to Timer's Distributing, $400. What is the journal entry for Wally's Watches to record this transaction?
Answer
  • Debit Accounts Payable/Timer's Distributing, $400; Credit Purchases Returns and Allowances, $400.
  • Debit Accounts Receivable/Timer's Distributing, $400; Credit Purchases Returns and Allowances, $400.
  • Debit Purchases Returns and Allowances, $400; Credit Purchases, $400.
  • Debit Purchases Returns and Allowances, $400; Credit Accounts Payable/ Timer's Distributing, $400.

Question 14

Question
John's Appliances purchased merchandise on account from Electronic Supply for $990. What is the journal entry for John's Appliances to record this transaction?
Answer
  • Debit Accounts Payable/Electronic Supply, $990; Credit Purchases, $990.
  • Debit Accounts Receivable/Electronic Supply, $990; Credit Purchases $990.
  • Debit Purchases, $990; Credit Accounts Payable/Electronic Supply, $990.
  • Debit Purchases, $990; Credit Accounts Receivable/Electronic Supply, $990.

Question 15

Question
Aquisha's Bookkeeping paid cash for the telephone bill, $134. What is the journal entry to record this transaction?
Answer
  • Debit Purchases, $134; credit Cash, $134.
  • Debit Telephone Expense, $134; credit Cash, $134.
  • Debit Cash, $134; credit Purchases, $134.
  • Debit Cash, $134; credit Telephone Expense, $134.

Question 16

Question
Gill's Grills purchased store supplies on account from Sellers Warehouse for $829. What is the journal entry for Gill's Grills to record this transaction?
Answer
  • Debit Accounts Payable/Sellers Warehouse, $829; Credit Supplies, $829.
  • Debit Accounts Receivable/Sellers Warehouse, $829; Credit Supplies $829.
  • Debit Supplies, $829; Credit Accounts Payable/Sellers Warehouse, $829.
  • Debit Supplies, $829; Credit Accounts Receivable/Sellers Warehouse, $829.

Question 17

Question
Belinda's Rare Books purchased merchandise for cash from Book Distributors for $900. What is the journal entry for Belinda's Rare Books to record this transaction?
Answer
  • Debit Accounts Payable/ Book Distributors, $900; credit Purchases, $900.
  • Debit Cash, $900; credit Purchases, $900.
  • Debit Purchases, $900; credit Accounts Payable/ Book Distributors, $900.
  • Debit Purchases, $900; credit Cash, $900.

Question 18

Question
The Jungle Gym returned merchandise that was purchased on account to Footware Wholesale, $600. What is the journal entry for The Jungle Gym to record this transaction?
Answer
  • Debit Accounts Payable/Footware Wholesale, $600; Credit Purchases Returns and Allowances, $600.
  • Debit Accounts Receivable/Footware Wholesale, $600; Credit Purchases Returns and Allowances, $600.
  • Debit Purchases Returns and Allowances, $600; Credit Purchases, $600.
  • Debit Purchases Returns and Allowances, $600; Credit Accounts Payable/ Footware Wholesale, $600.

Question 19

Question
The Fish Friends Pet Shop purchased fish (merchandise) on account from Goldfish Supply for $152. What is the journal entry for Fish Friends Pet Shop to record this transaction?
Answer
  • Debit Accounts Payable/Goldfish Supply, $152; Credit Purchases, $152.
  • Debit Accounts Receivable/Goldfish Supply, $152; Credit Purchases $152.
  • Debit Purchases, $152; Credit Accounts Payable/Goldfish Supply, $152.
  • Debit Purchases, $152; Credit Accounts Receivable/Goldfish Supply, $152.

Question 20

Question
Corrugated Box Company paid cash to Paper Supply, $686; covering Purchase Invoice No. 88 for $700, less a 2% discount, $14.00. What is the journal entry for Corrugated Box Company to record this transaction?
Answer
  • Debit Accounts Payable/ Paper Supply, $686; credit Cash, $686.
  • Debit Accounts Payable/ Paper Supply, $700; credit Cash, $700.
  • Debit Accounts Payable/ Paper Supply, $700; credit Purchases Discount $14 and credit Cash $686.
  • Debit Purchases Discount $14 and debit Cash $686; credit Accounts Payable/ Paper Supply $700.

Question 21

Question
Wanda's Wigs paid cash to Wig Warehouse, $323; covering Purchase Invoice No. 812 for $340, less a 5% discount, $17.00. What is the journal entry for Wanda's Wigs to record this transaction?
Answer
  • Debit Accounts Payable/ Wig Warehouse, $323; credit Cash, $323.
  • Debit Accounts Payable/ Wig Warehouse, $340; credit Cash, $340.
  • Debit Accounts Payable/ Wig Warehouse, $340; credit Purchases Discount $17 and credit Cash $323.
  • Debit Purchases Discount $17 and debit Cash $323; credit Accounts Payable/ Wig Warehouse $340.

Question 22

Question
Sluggers Sports Shop purchased merchandise for cash from Better Bats Warehouse for $850. What is the journal entry for Sluggers Sports Shop to record this transaction?
Answer
  • Debit Accounts Payable/ Better Bats Warehouse, $850; credit Purchases, $850.
  • Debit Cash, $850; credit Purchases, $850.
  • Debit Purchases, $850; credit Accounts Payable/ Better Bats Warehouse, $850.
  • Debit Purchases, $850; credit Cash, $850.

Question 23

Question
Dipper's Ice Cream Parlor returned merchandise that was purchased on account to The Ice Cream Company, $600. What is the journal entry for Dipper's Ice Cream Parlor to record this transaction?
Answer
  • Debit Accounts Payable/The Ice Cream Company, $600; Credit Purchases Returns and Allowances, $600.
  • Debit Accounts Receivable/The Ice Cream Company, $600; Credit Purchases Returns and Allowances, $600.
  • Debit Purchases Returns and Allowances, $600; Credit Purchases, $600.
  • Debit Purchases Returns and Allowances, $600; Credit Accounts Payable/The Ice Cream Company, $600.

Question 24

Question
Seahawk Fastpitch Softball paid cash on account to Community Field, $295, covering Purchase Invoice No. 14. What is the journal entry for Seahawk Fastpitch Softball to record this transaction?
Answer
  • Debit Accounts Payable/ Community Field $295; credit Cash, $295.
  • Debit Accounts Receivable/Community Field, $295; credit Cash, $295.
  • Debit Cash $295; credit Accounts Payable/ Community Field $295.
  • Debit Cash $295; credit Accounts Receivable/ Community Field $295.

Question 25

Question
Betty's Boutique purchased merchandise for cash from Jackson Supply for $700. What is the journal entry for Betty's Boutique to record this transaction?
Answer
  • Debit Accounts Payable/Jackson Supply, $700; credit Purchases, $700.
  • Debit Cash, $700; credit Purchases, $700.
  • Debit Purchases, $700; credit Accounts Payable/Jackson Supply, $700.
  • Debit Purchases, $700; credit Cash, $700.

Question 26

Question
River Road Farm Supply paid cash to C-V Chemical Distributors, $779; covering Purchase Invoice No. 623 for $820, less a 5% discount, $41.00. What is the journal entry for River Road Farm Supply to record this transaction?
Answer
  • Debit Accounts Payable/ C-V Chemical Distributors, $779; credit Cash, $779.
  • Debit Accounts Payable/ C-V Chemical Distributors, $820; credit Cash, $820.
  • Debit Accounts Payable/ C-V Chemical Distributors, $820; credit Purchases Discount $41 and credit Cash $779.
  • Debit Purchases Discount $41 and debit Cash $779; credit Accounts Payable/ C-V Chemical Distributors $820.

Question 27

Question
The Lil Kids Candy store purchased jelly beans (merchandise) on account from Jelly Belly Supply for $250. What is the journal entry for Lil Kids Candy to record this transaction?
Answer
  • Debit Accounts Payable/Jelly Belly Supply, $250; Credit Purchases, $250.
  • Debit Accounts Receivable/Jelly Belly Supply, $250; Credit Purchases $250.
  • Debit Purchases, $250; Credit Accounts Payable/Jelly Belly Supply, $250.
  • Debit Purchases, $250; Credit Accounts Receivable/Jelly Belly Supply, $250.

Question 28

Question
Sonny's Skateboard Shop paid cash on account to Boards Unlimited, $795, covering Purchase Invoice No. 290. What is the journal entry for Sonny's Skateboard Shop to record this transaction?
Answer
  • Debit Accounts Payable/ Boards Unlimited $795; credit Cash, $795.
  • Debit Accounts Receivable/Boards Unlimited, $795; credit Cash, $795.
  • Debit Cash $795; credit Accounts Payable/ Boards Unlimited $795.
  • Debit Cash $795; credit Accounts Receivable/ Boards Unlimited $795.

Question 29

Question
Mike's Music paid cash to Sheet Music Supply, $294; covering Purchase Invoice No. 54 for $300, less a 2% discount, $6.00. What is the journal entry for Mike's Music to record this transaction?
Answer
  • Debit Accounts Payable/ Sheet Music Supply, $294; credit Cash, $294.
  • Debit Accounts Payable/ Sheet Music Supply, $300; credit Cash, $300.
  • Debit Accounts Payable/ Sheet Music Supply, $300; credit Purchases Discount $6 and credit Cash $294.
  • Debit Purchases Discount $6 and debit Cash $294; credit Accounts Payable/ Sheet Music Supply $300.

Question 30

Question
Wally's Wallets paid cash to Leather Products Supply, $437; covering Purchase Invoice No.1284 for $460, less a 5% discount, $23.00. What is the journal entry for Wally's Wallets to record this transaction?
Answer
  • Debit Accounts Payable Leather Products Supply, $437; credit Cash, $437.
  • Debit Accounts Payable/ Leather Products Supply, $460; credit Cash, $460.
  • Debit Accounts Payable/ Leather Products Supply, $460; credit Purchases Discount $23 and credit Cash $437.
  • Debit Purchases Discount $23 and debit Cash $437; credit Accounts Payable/ Leather Products Supply $460.

Question 31

Question
Timothy wants to replenish the $300 petty cash fund. He has receipts for the following total payments: postage (Office Expense), $35; supplies, $25; and repairs, $95. A cash count shows $160 in the petty cash box. What is the correct journal entry to record the transaction?
Answer
  • Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Cash $155.
  • Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25 and credit Petty Cash $155.
  • Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, and credit cash $140, credit Cash Short and Over $15.
  • Debit Repair Expense $95, debit Office Expense $35, debit Supplies $25, debit Cash Short and Over $5, and credit cash $160.

Question 32

Question
Joseph wants to replenish the $150 petty cash fund. He has receipts for the following total payments: supplies, $75; and repairs, $43. A cash count shows $40 in the petty cash box. What is the correct journal entry to record the transaction?
Answer
  • Debit Repair Expense $43, debit Supplies $75 and credit Cash $118.
  • Debit Repair Expense $43, debit Supplies $75 and credit Petty Cash $118.
  • Debit Repair Expense $43, debit Supplies $75, and credit cash $110, credit Cash Short and Over $8.
  • Debit Repair Expense $43, debit Supplies $75, debit Cash Short and Over $8, and credit Cash $126.
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