Bookkeeping(Quick Test #2)

1. The minimum number of accounts affected by every transaction is __________.

2. In a general journal entry, the account that is to be __________ will be indented.

3. A customer’s check dated June 27 was received by XYZ Corp. on June 30 and was deposited on July 2. The amount of the check should be included in XYZ’s cash balance as of the following date: __________.

4. Recording $945 as $954 is known as a __________ error.

5. The internal report that presents the balances in the accounts in either a debit or credit column in order to prove that the total of the debit balances is equal to the total of the credit balances is known as the __________ balance.

6. The term __________ means to sum or to add up.

7. Depreciation is likely to be first recorded in the __________ journal.

8. Recording $1,000 in the account Property Tax Expense instead of Rent Expense __________ cause the trial balance to be out of balance.

9. The trial balance __________ be out of balance if an entire journal entry is recorded twice.

10. The process of recording amounts from a journal into the general ledger is called __________.

11. If an amount is recorded with two of its digits transposed, the amount of the difference is evenly divisible by the digit __________.

12. The account to be __________ will be listed first in a general journal entry.

13. Recording an entry in the general journal is referred to as posting.

14. A __________ is known as the book of original entry.

15. Entries in the general journal appear in order by __________.

16. The sale of a company’s old delivery truck would be recorded in a sales journal and in the account Sales.

17. If equipment used in the business is sold for cash and the amount is more than its book value, a gain is recorded.

18. The amounts reported on a trial balance are the balances of the accounts contained in the general __________.

19. __________-entry accounting refers to two or more amounts recorded for every business transaction.

20. The sales journal, cash disbursement journal, and cash receipts journal are examples of __________ journals.