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Normal balance for Electricity expense is:
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Jenny started her business with $2,000 cash: Dr ... Cr Capital 2000
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Jenny billed Small Company Ptd Ltd for her services $500 (GST-Excl). For Jenny: Dr A/R $550 Cr ...?
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Greg purchased boxing gloves for his gym for $55 (GST-Incl) and paid with his business Master card. For Greg:
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Normal balance for Accounts Receivable is:
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Normal balance for Sales is:
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Greg contributed equipment of $1,000 to his business. For Greg:
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
Jenny purchased 10 reams of paper @ $5.00 each (GST-Incl), terms Net 30 days. For Jenny - ?
Dr Equipment 1,000 Cr Capital 1,000
Cash 2000
Debit
Debit
Dr Gym supplies 50 Dr GST Receivable 5 Cr Accounts Payable 55
Dr Stationery 45.45 Dr GST Receivable 4.55 Cr Accounts Payable 50
Cr Accounting Services $ 500 Cr GST Payable $ 50
Credit
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