Question Details

Which of the following accounts should be credited in a journal entry 



1.	To find an explanation of a transaction, one should look at the
a.	ledger.
b.	trial balance.
c.	journal.
d.	chart of accounts.



	2.	Which of the following accounts might be placed first in a journal entry?
a.	Bonds Payable, when it has been decreased
b.	Cash, when it has been decreased
c.	Unearned Revenue, when it has been increased
d.	Interest Income, when it has been increased



	3.	Which of the following statements is true about a journal entry?
a.	The Post. Ref. column is filled in prior to posting.
b.	All debits are listed before any credits.
c.	The name of the month should be repeated for each entry.
d.	An explanation must follow each debit and each credit.



	4.	Which of the following statements is false about a journal entry?
a.	It may have more than one debit or credit entry.
b.	Credits are always indented.
c.	Accounts that are increased are always listed first.
d.	A space should be skipped between journal entries.


	5.	Which of the following accounts should be credited in a journal entry ?
a.	Owner's Withdrawals, when it has been increased
b.	Accounts Receivable, when it has been decreased
c.	Wages Expense, when it has been increased
d.	Wages Payable, when it has been decreased



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