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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