9. MC.03.010 The proof that the debits and credits in the ledger are equal is called the a. Journal. b. trial balance. c. balance sheet. d. income statement. e. statement of owner's equity.
9. MC.03.010 The proof that the debits and credits in the ledger are equal is called the a. Journal. b. trial balance. c. balance sheet. d. income statement. e. statement of owner's equity.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![9.MC.03.010
The proof that the debits and credits in the ledger are equal is called the
a. Journal.
b. trial balance.
c. balance sheet.
d. income statement.
e. statement of owner's equity.
10. MC.03.011
In the accounting process, the second step is to
a. prepare a trial balance.
b. prepare an income statement.
c. record the account numbers in the journal.
d. record the information from a source document.
e. post entries to the ledger accounts.
11. MC.03.016
a.
is a book in which business transactions are recorded.
trial balance
b. ledger
c. Journal
d. balance sheet
12. MC.03.017
furnish proof that a transaction has taken place.
a. Source documents
b. Ledgers
c. Secure documents
d. Journal entries](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e79914f-aa93-4767-a6e3-ab3c5ca10699%2Fa417ee17-57da-4a2e-8dc9-663fc3e112af%2Fddlulk8_processed.png&w=3840&q=75)
Transcribed Image Text:9.MC.03.010
The proof that the debits and credits in the ledger are equal is called the
a. Journal.
b. trial balance.
c. balance sheet.
d. income statement.
e. statement of owner's equity.
10. MC.03.011
In the accounting process, the second step is to
a. prepare a trial balance.
b. prepare an income statement.
c. record the account numbers in the journal.
d. record the information from a source document.
e. post entries to the ledger accounts.
11. MC.03.016
a.
is a book in which business transactions are recorded.
trial balance
b. ledger
c. Journal
d. balance sheet
12. MC.03.017
furnish proof that a transaction has taken place.
a. Source documents
b. Ledgers
c. Secure documents
d. Journal entries
![13. MC.03.018
Shower Flower Company bought equipment, paying cash, $2,500. The accountant would record the following journal entry:
$2,500
$2,500
a. Equipment
Cash
b. Equipment Expense
Cash
c. Equipment
d. Cash
Accounts Payable
a. Equipment Expense
Equipment
14. MC.03.019
Apple Company purchased $6,000 in equipment, paying $2,000 in cash and placing the remainder on account. The accountant would record the following journal entry:
$8,000
b. Equipment
Accounts Payable
Cash
c. Equipment
Accounts Payable
Cash
d. Cash
b. Cash
Accounts Payable
c. Cash
e. Equipment
Cash
Equipment
a. 3. Jefferson, Drawing
Cash
Income from Services
$2,500
J. Jefferson, Capital
$2,500
$2,500
d. J. Jefferson, Capital
Cash
$6,000
15. MC.03.020
1. Jefferson invested $15,000 cash in his business. The accountant would record the following journal entry:
$15,000
$15,000
$15,000
$15,000
$15,000
$8,000
$8,000
$6,000
$15,000
$2,500
$2,500
$2,500
$15,000
$15,000
$6,000
$2,000
$4,000
$2,000
$8,000
$8,000
$6,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1e79914f-aa93-4767-a6e3-ab3c5ca10699%2Fa417ee17-57da-4a2e-8dc9-663fc3e112af%2Fr3w55q_processed.png&w=3840&q=75)
Transcribed Image Text:13. MC.03.018
Shower Flower Company bought equipment, paying cash, $2,500. The accountant would record the following journal entry:
$2,500
$2,500
a. Equipment
Cash
b. Equipment Expense
Cash
c. Equipment
d. Cash
Accounts Payable
a. Equipment Expense
Equipment
14. MC.03.019
Apple Company purchased $6,000 in equipment, paying $2,000 in cash and placing the remainder on account. The accountant would record the following journal entry:
$8,000
b. Equipment
Accounts Payable
Cash
c. Equipment
Accounts Payable
Cash
d. Cash
b. Cash
Accounts Payable
c. Cash
e. Equipment
Cash
Equipment
a. 3. Jefferson, Drawing
Cash
Income from Services
$2,500
J. Jefferson, Capital
$2,500
$2,500
d. J. Jefferson, Capital
Cash
$6,000
15. MC.03.020
1. Jefferson invested $15,000 cash in his business. The accountant would record the following journal entry:
$15,000
$15,000
$15,000
$15,000
$15,000
$8,000
$8,000
$6,000
$15,000
$2,500
$2,500
$2,500
$15,000
$15,000
$6,000
$2,000
$4,000
$2,000
$8,000
$8,000
$6,000
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