Effects of Transaction
Topic: Effects of Transaction
Instructions: Choose the letter of the correct Answer.
Questions& Choices
1.
A. 6,500
B. 2,500
2. Accounts Payable was credited by 2,000; Original Balance 4,500 *
A. 6,500
B. 2,500
3. Inventory was debited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
4. Service Income was credited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
5. Cash on Hand was credited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
6. Unearned Income was credited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
7.
A. 6,500
B. 2,500
8. Capital was credited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
9. Prepaid Insurance was credited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
10. Salaries and Wages was debited by 2,000; Original Balance 4,500
A. 6,500
B. 2,500
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