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    Abm 1 Quiz No 1

    Uploaded by

    Michael John Dayondon
    This document appears to be a quiz for an accounting class assessing students' ability to: 1) Classify various account titles as assets, liabilities, or proprietorship; 2) Indicate whether certain account transactions resulted in accounts being debited or credited; 3) Classify asset accounts as either current assets or non-current assets. The quiz contains three sections with multiple choice, fill-in-the-blank, and classification questions regarding common accounting accounts and transactions.

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    Download as DOCX, PDF, TXT or read online from Scribd

    Abm 1 Quiz No 1

    Uploaded by

    Michael John Dayondon
    19 views1 page
    This document appears to be a quiz for an accounting class assessing students' ability to: 1) Classify various account titles as assets, liabilities, or proprietorship; 2) Indicate whether certain account transactions resulted in accounts being debited or credited; 3) Classify asset accounts as either current assets or non-current assets. The quiz contains three sections with multiple choice, fill-in-the-blank, and classification questions regarding common accounting accounts and transactions.

    Original Title

    ABM 1 QUIZ NO 1

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    © © All Rights Reserved

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    This document appears to be a quiz for an accounting class assessing students' ability to: 1) Classify various account titles as assets, liabilities, or proprietorship; 2) Indicate whether certain account transactions resulted in accounts being debited or credited; 3) Classify asset accounts as either current assets or non-current assets. The quiz contains three sections with multiple choice, fill-in-the-blank, and classification questions regarding common accounting accounts and transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    19 views1 page

    Abm 1 Quiz No 1

    Uploaded by

    Michael John Dayondon
    This document appears to be a quiz for an accounting class assessing students' ability to: 1) Classify various account titles as assets, liabilities, or proprietorship; 2) Indicate whether certain account transactions resulted in accounts being debited or credited; 3) Classify asset accounts as either current assets or non-current assets. The quiz contains three sections with multiple choice, fill-in-the-blank, and classification questions regarding common accounting accounts and transactions.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    NAME: __________________________________________ SECTION: _______________________ SCORE: ________

    ABM 1 QUIZ NO. 1


    Instructor: Michael John V. Dayondon
    Test I: Classify the following account titles as to Assets, Liabilities and Proprietorship. Use “check
    mark”. Erasures are prohibited and will not be credited with any point.

    Account Title A L P Account Title A L P


    Repairs and Maintenance Notes Receivable
    Cash in Bank Commission Fees
    Unused Supplies Unearned Income
    Postage Stamps Petty Cash Fund
    Accounts Receivable Notes Payable
    Taxes and Licenses Interest Receivable
    Professional Income Utilities Expense
    Cash on Hand Dental Fees
    Insurance Expense Accrued Interest Expense
    Advances to Employees Accrued Salaries Expense
    Accounts Payable Copyright
    Prepaid Insurance Accumulated Depreciation
    Bungol, Capital Doubtful Accounts
    Fees Earned Bungi, Drawing
    Gain on Sale Loss on Fire

    Test II: Indicate a ✓ on what has been done in each of the account which resulted to have increased
    or decreased in its balance. Erasures are prohibited and will not be credited with any point.
    TRANSACTIONS DEBITED CREDITED
    Bella Cruz, Capital account increased by P1,500
    Prepaid Insurance account decreased by P3,000
    Accounts Receivable account increased by P300
    Accounts Payable account decreased by P750
    Cash in Bank account decreased by P8,450
    Accounts Payable account increased by P10,050
    Accounts Receivable account decreased by P500
    Fees Earned account increased by P143,000
    Accrued Interest Income account decreased by P45,000
    Prepaid Expense account increased ny P12,000

    Test III: Classify the following asset accounts. Write CA if it is a Current Asset and NCA if it is a
    Non-Current Asset. Erasures are prohibited and will not be credited with any point.
    Account Title Classification Account Title Classification
    Land Accrued Income
    Office Equipment Computer Equipment
    Cash on Hand Delivery Truck
    Furnitures & Fixtures Service Car
    Store Equipment Loans Receivable (380 days)
    Building Subscription Receivable
    Accounts Receivable Accrued Interest Income
    Unused Office Supplies Prepaid Insurance
    Advances to Employees Patent
    Prepaid Rent Copyright
    Machinery Trademark
    Cash in Bank Postage Stamps
    Building Petty Cash Fund
    Accumulated Depreciation Interest Receivable
    Allow. for Doubtful Accounts Cash Equivalents

    If you fail to plan then you plan to fail.

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