Accounting -Chapter 10: Question Preview (ID: 1262)


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Purchased merchandise on account from Smith Company.
a) debit Merchandise; credit Cash b) debit Purchases; credit Cash c) debit Purchases; credit Accounts Receivable d) debit Purchases; credit Accounts Payable
Purchased merchandise for cash.
a) debit Supplies; credit Cash b) debit Purchases; credit Cash c) debit Merchandise, credit Cash d) debit Purchases; credit Accounts Payable
Paid cash on account to Smith Company.
a) debit Cash, credit Accounts Receivable b) debit Accounts Receivable, credit cash c) debit Accounts Payable; credit Purchases d) debit Accounts Payable; credit cash
Paid cash for advertising expense.
a) debit Cash; credit Advertising Expense b) debit Advertising Expense; credit Cash c) debit Supplies; credit Cash d) debit Utilities Expense; credit Cash
Joe Jones, partner, withdrew cash for personal use.
a) debit Joe Jones, Drawing; credit Cash b) debit Joe Jones, Drawing; credit Purchases c) debit Purchases; credit Joe Jones, Drawing d) debit Joe Jones, Drawing; credit Supplies
Joe Jones, partner withdrew merchandise for personal use.
a) debit Joe Jones, Drawing; credit Purchases b) debit Joe Jones, Drawing; credit Cash c) debit Cash; credit Joe Jones, Drawinag d) debit Purchases; credit Joe Jones, Drawing
Replenished the petty cash fund: Supplies--Store and Supplies--Office
a) debit Petty Cash; credit Cash b) debit Cash; credit Supplies-Store and Supplies--Office c) debit Cash; credit Petty Cash d) debit Supplies-Store and Supplies-Offfice; credit Cash
Bought Store Supplies on account from Jones Supply Compnay.
a) debit Supplies-Office; credit Cash b) debit Supplies-Store; credit Cash c) debit Supplies-Store; credit Accounts Payable d) debit Supplies-Store; credit Accounts Receivable
Paid cash for Office Supplies.
a) debit Supplies-Store; credit Accounts Payable b) debit Supplies-Office; credit Cash c) debit Supplies-Office; credit Accounts Receivable d) debit Supplies-Store; credit Cash
Paid cash for telephone bill.
a) debit Cash; credit Utilities Expense b) debit Utilities Expense; credit Accounts Payable c) debit Accounts Payable; credit Cash d) debit Utilities Expense; credit Cash
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