Accounting Self-Assessment Quiz

Name:_________________________ Period:____ Date:_________ Glencoe Accounting (First-Year Course) Chapter 5, Section 2

1.	To test for equality
		debits should be larger than credits
		the Revenue account should exceed the Expense accounts
		debits and credits should be equal
		Revenue should equal the total of all other accounts

2.	The owner of Speedman wrote a company check for $750 for personal use. The account debited will be
		Owner`s Capital
		Cash in Bank
		Owner`s Withdrawals
		Accounts Receivable

3.	Speedman mailed a check for $850 to pay the month`s rent. The account that was increased was
		Cash in Bank
		Delivery Revenue
		Accounts Payable
		Rent Expense

4.	Speedman purchased an advertisement in the Daily Bugle and will pay the $75 fee at a later date. The accounts affected are
		Advertising Expense and Cash in Bank
		Advertising Expense and Accounts Payable
		Delivery Revenue and Accounts Payable
		Accounts Payable and Cash in Bank

5.	Speedman billed $956.32 for delivery services. The accounts affected are
		Accounts Receivable and Delivery Revenue
		Cash in Bank and Delivery Revenue
		Accounts Payable and Cash in Bank
		Accounts Receivable and Accounts Payable

6.	Speedman Delivery provided delivery service for a customer and received a check for $1,472 as payment in full. The accounts affected are
		Cash in Bank and Delivery Revenue
		Accounts Receivable and Delivery Revenue
		Delivery Revenue and Accounts Payable
		Cash in Bank and Accounts Receivable

7.	Speedman paid the $179 telephone bill. This transaction will
		increase Cash in Bank
		increase Owner`s Capital
		decrease Delivery Revenue
		Increase Utilities Expense