1) The accounts receivable account has total debit postings of $1,900 and credit postings of $1,100. The balance of the account is
a. 800 debit
b. 800 credit
c. 2,600 credit
d. 2,600 debit

2) Jim Walton performed services on credit for 2,450. a debit for this transaction should be recorded to
a revenue
b. accounts receivable
c. accounts payable
d. cash

3) Accounts payable had a normal starting balance of 800. There were debit postings of 600 and credit postings of 300 during the month. The ending balance is
a. 500 credit
b. 1,000 debit
c. 500 debit
d. 1,000 credit

4) When an owner records a credit for 650 for revenue earned but not yet received, the amount of the debit should be
a. 325
b. 0
c. 975
d. 650

5) A category that is not in the chart of accounts is
a. assets
b. liabilities
c. cash flows
d. revenue

6) Which of the statements of the rules of debit and credit is true?
a. decrease accounts receivable with a credit and the normal balance is a credit
b. increase accounts payable with a credit and the normal balance is a credit
c. increase capital with a debit and the normal balance is a debit
d. decrease cash with a debit and the normal balance is a debit

7) The left side of any account is the
a. debit side
b. credit side
c. ending balance
d. footings

8) Which of the following entries records the investment of cash by john, owner of a sole proprietorship?
a. debit john, capital; credit cash
b. debit cash; credit john, withdrawals
c. debit john, withdrawals; credit cash
d. debit cash; credit john, capital

9) The accounts payable account is
a. a revenue, and it has normal debit balance
b. an expense, and it has a normal credit balance
c. a liability, and it has a normal debit balance
d. a liability, and it has a normal credit balance

10) A debit increases the balance in all of the following accounts, except
a. cash
b. withdrawals
c. expenses
d. accounts payable

11) The rigt side of any accounts is the
a. debit side
b. credit side
c. ending balance
d. footings

12) The ledger is
a. a group of accounts that records data from business transactions
b. a tool used to make sure that all accounts have normal balances
c. chronological record of the day’s transactions
d. a tool used to ensure that debits equal credits

13) The beginning balance in the computers account was 2,000. The company purchased an additional 1,000 worth of computers. The balance in the account is
a. debit of 2,000
b. credit of 3,000
c. debit of 3,000
d. credit of 2,000

14) An account is said to have a debit balance if
a. the footing of the debits exceeds the footing of the credits
b. there are more entries on the debit side than on the credit side
c. its normal balance is debit without regard to the amounts or number of entries on the debit side
d. the last entry of the accounting period was posted on the debit side

15) A liability would be credited and an expense debited if
a. the business paid a creditor
b. the business incurred an expense and did not pay the expense immediately
c. the business bought supplies on account
d. the business bought supplies for cash

16) One asset would be debited and another credited if
a. the business provided services to a cash customer
b. the business paid a creditor
c. the business bought supplies paying cash
d. the business provided services to a credit customer