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lOMoAR cPSD| 61131586
ÔN TẬP KTHP NGUYÊN LÝ KẾ TOÁN Kiểm tra thường kì :
1.A profit-making business operating as a separate legal entity and in which
ownership is divided into shares of stock is known as a A proprietorship. B. service business. C. partnership. D. corporation.
2.The resources owned by a business are called: A, assets. B. liabilities. C. the accounting equation. D. owners equity.
3.On August 25, Gallatin Repair Service extended an offer of $125,000 for land that
had been priced for sale at $150,000. On September 3, Gallatir Repair Service
accepted the sellers counteroffer of $137,000. On October 20, the land was assessed at
a value of 598,000 for property tax purposes. On December 4, Gallatin Repair Service
was offered $160,000 for the land by a national retail chain. At what value should the
land be recorded in Gallatin Repair Service's records? A. 125,000 B. 150,000 C. 137,000 D. 98,000
4.If total assets increased $20,000 during a period and total liabilities increased
$12,000 during the same period, the amount and direction (increase or decrease) of the
change in owner's equity for that period is a(n): A. $32,000 increase. B. $32,000 decrease. C. $8,000 increase. D. 58,000 decrease.
5.II revenue was $45,000, expenses were $37,500, and the dividend were $10,000, the
amount of net income or net loss would be: A. $45,000 net income. B. $7,500 net income. lOMoAR cPSD| 61131586 C. $37,500 net loss. D. $2,500 ner loss.
6.When a corporation received investment of $25,000 from stockholders in exchange
for common stock, which accounting elements are affected?
A. Asset (Cash) increases by $25,000; Common Stock increases by $25,000.
B. Asset (Cash) decreased by $25,000; Common Stock increases by $25,000.C.
Asset (Cash) increases by $25,000; Common Stock decreased by $25,000.
D. Asset (Cash) decreased by $25,000; Common Stock decreased by $25,000.
7.When a corporation paid creditors on account, $3,750, which accounting elements are affected? A.
Asset (Cash) increased by $3,750; Liability (Accounts Payable) increased by $3,750 B.
Asset (Cash) decreased by $3,750; Liability (Accounts Payable) increased by $3,750 C.
Asset (Cash) decreased by $3,750; Liability (Accounts Payable) decreased by $3,750 D.
Asset (Cash) increased by $3,750; Liability (Accounts Payable) decreased by $3,750
8.When a corporation received cash from customers on account, $11,300, which
accounting elements are affected?
A, Asset (Cash) increased by $11,300; Asset (Accounts Receivable) increased by $11,300) B.
Asset (Cash) decreased by $11,300; Asset (Accounts Receivable) increased by $11,300 C.
Asset (Cash) decreased by $11,300; Asset (Accounts Receivable) decreased by 511,300 D.
Asset (Cash) increased by $11,300; Asset (Accounts Receivable) decreased by $11,300
9.Purchased supplies on account $1,000
A. Asset (Supplies) increased by $1,000; Asset (Cash) increased by $1,000
B. Asset (Supplies) Increased by $1,000; Liability (Accounts Payable) increased by $1,000
C, Asset (Supplies) increased by $1,000; Asset (Cash) increased by $1,000 lOMoAR cPSD| 61131586
D. Asset (Supplies) increased by $1,000; Liability (Accounts Payable) decreased by $1,000
10.Billed customers for fees eamed $19,000 A.
Assets (Accounts Receivable) increased $19,000; Revenues (Fees Earned) decreased by $19,000 B.
Assets (Accounts Receivable) decreased $19,000; Revenues (Fees Earned) increased by $19,000 C.
Assets (Accounts Receivable) increased $19,000; Revenues (Fees Earned) increased by $19,000 D.
Assets (Accounts Receivable) decreased $19,000; Revenues (Fees Earned)
decreased by $19,000 11.Retained Earnings Is: A. Liability B. Asset C. Stockholders Equity D. Revenue
12.Accounts Payable and Accounts Receivable are A. Labilities B. Assets C. Stockholders Equity
D. different types of accounting elements
13.Paid rent for the month, $4,200.
A. Increase in an asset, increase in a liability.
B. Increase in an asset, increase in owner's equity.
C. Decrease in an asset, decrease in a liability.
D. Decrease in an asset, decrease in owner's equity.
14.Determined that the cost of supplies on hand was $900; therefore, $1,600 of
supplies had been used during the month.
A. Increase in an asset, decrease in another asset
B. Increase in an asset, increase in owners equity.
C. Decrease in an asset, decrease in a liability.
D. Decrease in an asset, decrease in owner's equity. lOMoAR cPSD| 61131586
15.Paid creditors on account, $9,280.
A. Increase in an asset, decrease in another asset.
B. Increase in an asset, increase in a liability.
C. Increase in an asset, increase in owners equity-
D. Decrease in an asset, decrease in a liability.
16.Paid utilities expenses $500
A. Increase in an asset, decrease in another asset.
B. Increase in an asset, increase in a flability.
C. Increase in an asset, increase in owners equity.
D. Decrease in an asset, decrease in owner's equity.
17.Paid annual insurance premium $500
A. Increase in an asset, decrease in another asset.
B. Increase in an asset, increase in a liability,
C. Increase in an asset, increase in owners equity.
D. Decrease in an asset, decrease in owners equity.
18.Paid supplies for cash $500
A. Increase in an asset, decrease in another asset.
B. Increase in an asset, increase in a liability.
C. Increase in an asset increase in owner's equity.
D. Decrease in an asset, decrease in owners equity 19.A debit may signify ain:
A. increase in an asset account.
B. decrease in an asset account.
C. increase in a liability account
D. Increase in the stockholders' equity (common stock) account.
20.The ype of acount with a normal dedi balance ls A. an asset.
B. stockholders' equity (dividend). C. a revenue. lOMoAR cPSD| 61131586 D. an expense.
21.The receipt of cash from customers in payment of their accounts would be recorded by:
A. a debit to Cash and a credit to Accounts Receivable.
B. a debit to Accounts Receivable and a credit to Cash.
C. a debit to Cash and a credit to Accounts Payable.
D. a debit to Accounts Payable and a credit to Cash.
22.The form listing the titles and balances of the accounts in the le dger on a given date is the: A. income statement. B. balance sheet.
C. retained earnings statement. D. trial balance
23.Accounts Receivable is likely to have A. debit entries only B. credit entries only
C. both debit and credit entries. D. None of the above
24.Commissions Earned is likely to have A debit entries only B. credit entries only
C. both debit and credit entries. D. None of the above
25.Notes Payable is likely to have A. debit entries only B. credit entries only
C both debit and credit entries. D. None of the above
26.Common Stock is likely to have A debit entries only lOMoAR cPSD| 61131586 B. credit entries only
C both debit and credit entries D. None of the above
27.Rent Revenue is likely to have A. debit entries only B. credit entries only
C. bath de bit and credit entries. D. None of the above 28.A debit may signify a(n!:
A increase in an asset account.
B. decrease in an asset account.
C. increase in a liability account.
D. Increase in the stockholders equity (common stock) account.
29.The type of account with a normal credit balance is: A an asset.
B. stockholders equity (dividend). C a revenue. D. an expense.
31.A debit balance in which of the following accounts would indicate a likely error? A. Accounts Receivable B. Cash C. Fees Earned D. Miscellaneous Expense
32.The receipt of cash from customers in payment of their accounts would be recorded by;
A a debit to Cash and a credit to Accounts Receivable.
B. a debit to Accounts Receivable and a credit to Cash.
C. a debit to Cash and a credit to Accounts Payable.
D. a debit to Accounts Payable and a credit to Cash. lOMoAR cPSD| 61131586
33.The form listing the titles and balances of the accounts in the ledger on a given date is the: A. income statement. B. balance sheet.
C. retained earnings statement. D. trial balance.
34.Accounts Recelvable is likely to have A. debit entries only B. credit entries only
C. both debit and credit entries. D. None of the above
35.Notes Payable is likely to have A, debit entries only B. credit entries only
C, both debit and credit entries. D. None of the above
36.Common Stock is likely to have A. debit entries only B. creait entries only
C. both debit and credit entries, D. None of the above
37.Rent Revenue Is likely to have A. debit entries only B. credit entries only
C. both debit and credit entries. D. None of the above
38.Il the supplies account, before adjustment on May 31, indicated a balance of
$2,250, and supplies on hand at May 31 totaled $950, the adjusting entry would de:
A. Debit Supplies $950; Credit Supplies Expense $950.
B. Debit Supplies, $1,300; Credit Supplies Expense, $1,300. lOMoAR cPSD| 61131586
C. Debit Supplies Expense, $950; Credit Supplies, $950,
D. Debit Supplies Expense, $1,300; Credit Supplies, $1,300.
39.If the estimated amount of depreciation on equipment for a period is $2,000, the
adjusting entry to record depreciation would be:
A. Debit Depreciation Expense, $2,000; Credit Equipment, $2,000.
B. Debit Equipment, $2,000; Credit Depreciation Expense, $2,000.
C. Debit Depreciation Expense, $2,000; Credit Accumulated Depreciation, $2,000.
D. Debit Accumulated Depreciation, $2,000; Credit Depreciation Expense, $2,000.
40.Paid rent for period of July 4 to end of month, $1,750. Journalize the entry:
A. Dr Rent expense: $1,750, Cr Cash: $1,750
B. Dr Cash: $1,750, Cr Rent expense: $1,750
C. Dr Prepaid rent: $1,750, Cr Cash: $1,750
D. Dr Cash: $1,750, Cr Prepaid rent: $1,750
41.Purchased a truck for $15,000, paying $1,000 cash and giving a note payable for
the remainder, Journalize the entry:
A. Dr Truck: $15,000, Dr Casht: $1,000, Cr Account payable: $16,000
B. Dr Truck: $15,000, Cr Cash: $1,000, Cr Notes payable: $14,000
C. Dr Truck: $15,000, Cr Cash: $1,000, Cr Account payable: $14,000 D. None of above
42.Purchased equipment on account, $7,000. Joumalize the entry:
A Dr Equipment: $7,000, Cr Cash: $7,000
B. Dr Account payable: $7,000, Cr Cash: $7,000
C. Dr Equipment: $7,000, Cr Notes payable: $7,000
D. Dr Equipment: $7,000, Cr Account payable: $7,000
43.Purchased supplies for cash, $1,200, Journalize the entry:
A. Dr Supplies expense: $1,200, Cr Cash: $1,200
B. Dr Cash: $1,200, Cr Supplies: $1,200
C. Dr Supplies: $1,200, Cr Cash: $1,200
D. Dr Supplies: $1,200, Cr Account payable: $1,20 lOMoAR cPSD| 61131586
44.Paid annual premiums on property and casualty insurance, $2,700. Joumalize the entry
A. Dr Prepaid insurance: $2,700, Cr Cash: $2,700
B. Dr Insurance expense: $2,700, Cr Cash: $2,700
C. Dr Account payable: $2,700, Cr Cash: $2,700
D. Dr Cash: $2,700, Cr Prepald insurance: $2,700
46.Fees earned and billed to customers for the month, $37,200, Joumalize the entry
A. Dr Cash: $37,200, Cr Account recelvable: $37,200
B. Dr Cash: $37,200, Cr Fees earned: $37,200
C. Dr Account receivable: $37,200, Cr Fees earned: $37,200
D. Dr Fees earned: $37,200, Cr Cash: $37,200
47.July 26, received an linvoice for truck expenses, to be paid in August, 5800. Journze the entry
A. Dr Truck expenses: $800, Cr Cash: $800
B. Dr Truck expenses: $800, Cr Account payable: $800
C. Dr Cash: $800, Cr Truck expenses D. None of the above
48.Received cash from customers on account, $3,600. Journalize the entry:
A Dr Cash: $3,600, Cr Account receivable: $3,600
B. Dr Cash: $3,600, Cr Account payable: $3,600
C, Dr Cash: $3,600, Cr Fees earned: $3,600
D. Dr Account receivable: $3,600, Cr Fees earned: $3,600
50.Paid wages of employees, $2,400, Journalize the entry:
A. Dr Wages: $2,400, Cr Cash: $2,400
B. Dr Wages: $2,400, Cr Wages payable: $2,400
C. Drivages expense: $2,400, Cr Cash $2,400
D. Dr Wages expense: $2,400, Cr Wages payable: $2,000
51.Paid dividend, $2,000, joumalize the entry:
A. Dr Dividend, $2,000, Cr Dividend payable, $2,000 lOMoAR cPSD| 61131586
B. Dr Dividend, $2,000, Cr Cash, $2,000
C. Dr Cash: $2,000, Cr Dividend $2,000 D. None of the above
52.Fees accrued but unbilled at july 31 are $9,560, Journalize the adjusting entry:
A. Dr Account receivable: $9,560, Cr Fees earned: $9,560
B. Dr Cash: $9,560, Cr Fees eamed: $9,560
C. Cr Cash: $9,560, Cr Account receivable: $9,560
D. Dr Fees earned: $9,560, Cr Account receivable: $9,560
53.Wages accrued but not paid at july 31 are $1,200, Journalize the adjusting entry.
A. Dr Wages expense: $1,200, Cr Cash: $1,200
B. Dr Wages expense: $1,200, Cr Account payable: $1,200
C. Dr Wages expense: $1,200, Cr Wages payable: $1,200
D. Dr Wages payable: $1,200, Cr Wages expense: $1,200
54.The unearned rent account balance at July 31 is $9,375, representing the receipt of
an advance payment on July 1 of three months? rent from tenants. Journalize the adjusting entry in july 31:
A. Dr Uneared rent: $3,125, Cr Rent revenue: $3,125
B. Dr Rent revenue: $3,125, Cr Unearned rent: $3,125
C. Dr Account receivable: $9,375, Cr Rent revenue: $9,375
D. Dr Account receivable: $9,375, Cr Fees earned: $9,375
55.Issued common stock in exchange for $30,000. Journalize the entry
A. Dr Common stock: $30,000, Cr Cash: $30,000
B. Dr Account receivable: $30,000, Cr Common stock: $30,000
C. Dr Common stock: $30,000, Cr Acrount receivable: $30,000
D. Dr Cash: $30,000, Cr Common stock: $30,000
56.Paid installment due on note payable $1,875. Journalize the entry
A. Dr Account payable: $1,875, Cr Cash: $1,875
B. Dr Notes payable: $1,875, Cr Cash: $1,875
C. Dr Cash: $1,875, Cr Notes payable: $1,875
D. Dr Cash: $1,875, Cr Account payable: $1,875 lOMoAR cPSD| 61131586
57.Recorded fees earned in January on plans delivered, payment to be received in
February, $31,400. Journalize the entry
A. Dr Cash: $31,400, Cr fees earned: $31,400
B. Dr Account receivable: $31,400, Cr fees earned: $31,400
C. Dr fees earned: $31,400, Cr Account receivable: $31,400
D. Dr Account payable: $31,400, Cr fees earned: $31,400
58.Paid telephone bill for the month, $550, Journalize the entry
A. Dr. Telephone bill: $550, Cr Cash: $550
B. Dr Cash: $550, Cr: Utilities Expense: 5550
C. Dr Utilities Expense: $550, Cr Cash: $555
D. Dr Telephone expense: $550, Cr Cash: $550
59.Received cash from customers on account $8,600, Journalize the entry
A. Dr Cash: $8,600, Cr Account receivable: $8,600
B. Dr Account payable: $8,600, Cr Cash: $8,600
C. Dr Account receivable: $8,600, Cr Cash: $8,600
D. Dr Cash: $8,600, Cr Fees earned: $8,600
60.A debit balance in which of the fllowing accounts would indicate a likely error? A. Accounts Receivable B. Cash C.Fees Earned D. Miscellaneous Expense