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53. A one column purchases journal indicates that a. only purchases of merchandise on account can be recorded. b. all purchases of merchandise can be recorded. c. all acquisitions on account can be recorded. d. another column must be added so that debits and credits can be recorded. 54. The one characteristic that all entries recorded in a multi-column purchases journal have in common is a a. credit to the Cash account. b. debit to the Cash account. c. debit to the Accounts Payable account. d. credit to the Accounts Payable account.

55. A company which uses special journals should record a transaction involving the purchase of merchandise for cash in a a. one column purchases journal. b. multi-column purchases journal. c. cash payments journal. d. general journal.

56. If merchandise from a cash sale is returned by a customer for a refund, the sales return is recorded in the a. general journal. b. cash receipts journal. c. cash payments journal. d. sales journal.

57. Which of the following is not a special journal? a. Sales journal b. Purchases journal c. General journal d. Cash receipts journal

58. Correcting entries are journalized in a. a special journal. b. the general journal. c. the general ledger. d. a correcting journal.

59. Adjusting entries are recorded a. only on the work sheet. b. only in the general ledger. c. in the general journal. d. in the special journals.

60. If a transaction cannot be recorded in a special journal, it is a. not recorded. b. a correcting entry. c. recorded in the general journal. d. an error.

61. A company uses a sales journal, cash receipts journal, purchases journal, cash payments journal, and a general journal. A cash sales return would be recorded in the a. sales journal. b. cash receipts journal. c. cash payments journal. d. general journal.

62. The entries in a sales journal will show a. all sales of merchandise. b. the cash sales of the company. c. the credit sales of merchandise. d. all sales of the company.

63. Entries in a sales journal a. are made from sales invoices. b. will indicate the invoice number in the reference column of the sales journal. c. will occupy two lines of the sales journal. d. indicate either a cash debit or accounts receivable debit.

64. Journalizing in a sales journal will not a. require a debit to Accounts Receivable. b. show a sales invoice number. c. affect the reference column of the journal. d. include a credit to the Sales account.

65. If an owner withdraws cash for personal use, the transaction should be recorded in the a. sales journal. b. cash receipts journal. c. general journal. d. cash payments journal.

66. If a company purchases merchandise for cash, the transaction should be recorded in the a. purchases journal. b. general journal. c. cash payments journal. d. sales journal.

67. Cash from sales of merchandise will be recorded in the a. purchases journal. b. sales journal. c. cash receipts journal. d. general journal.

68. Debit postings to the individual accounts in an accounts receivable subsidiary ledger generally come from the a. sales journal. b. cash receipts journal. c. purchases journal. d. cash payments journal.

69. Entries in a sales journal are a. posted only to accounts in an accounts receivable subsidiary ledger. b. posted only to accounts in the general ledger. c. posted to accounts in an accounts receivable subsidiary ledger and to accounts in the general ledger. d. never posted.

70. Which one of the following columns in a cash receipts journal is not posted in total to an account in the general ledger? a. Cash column b. Sales Discount column c. Accounts Receivable column d. Other Accounts column

71. The use of special journals to record transactions a. eliminates the need for a general ledger. b. can save time in the posting process. c. eliminates the need for a general journal. d. should only be used if the volume of transactions is small.

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