2. Transaction Analysis

Which of the following statements about recording journal entries is TRUE?

Lupe deposited money from her paycheck into her account. In her check register, in which column should she record the amount?

A debit is used to increase which of the following types of accounts?

A(n) ____ is a record of checks, ATM transactions, deposits, and charges on an account.

How would a purchase of merchandise for cash be recorded in the journal?

Does the Common Stock account typically have a normal credit balance in the accounting equation?

When recording an expense in a financial ledger, it is entered as a _____.

Companies use job cost sheets to track the costs of:

How are sales transactions typically recorded in the journal using debits and credits?

Which manual bookkeeping system has a built-in way to check for errors by ensuring that total debits always equal total credits?

When an asset or liability is initially recorded in the accounting system, which of the following is true?

Under which of the following circumstances would Cash be credited and Equipment be debited in a journal entry?

When processing a credit balance, if a refund is due to a patient, you must:

Which of the following accounts normally have credit balances?

When manufacturing overhead is applied to each job in a job order costing system, which of the following is the correct journal entry?