QUESTION 1 Match the definition with the appropriate accounting term. v A list of accounts and their balances at a given time. v A record of all journal entries, by account The procedure of entering transaction data in the journal v Events that require recording in the financial statements because they involve an exchange affecting assets liabilities or shareholders equity. v An individual accounting record of increases and decreases in a specific asset. liability, and shareholders equity items v The left side of an account v The expected debit or credit balance for a specified account The procedure of transferring journal entries to the general ledger accounts. A Normal balance B. Debit C General Ledger D. Trial Balance E.Transactions Account Posting H. Journalizing QUESTION 3 Considering this account ACCOUNTS RECEIVABLE Choose the answer of the correct format A/B/C, where A-represents the normal balance (debit or credit) B - whether a debit would increase or decrease) the account C - whether a credit would increase or decrease) the account O 1. debit / increase / increase O 2. debit / increase / decrease 3. debit/ decrease / increase 4. debit/ decrease / decrease 5. credit / increase / increase O 6. credit / increase / decrease O 7. credit decrease / increase 8. credit/ decrease / decrease QUESTION 4 Considering this account COMMON SHARES Choose the answer of the correct format A/B/C, where A- represents the normal balance (debit or credit) B - whether a debit would (increase or decrease) the account C - whether a credit would increase or decrease) the account 1. debit / increase / increase 2. debit / increase / decrease OOOOOOO O 3. debit/ decrease increase 4. debit/ decrease / decrease O 5. credit / increase / increase 6. credit / increase / decrease 0 7. credit/ decrease increase 8. credit/ decrease / decrease Considering this account SERVICE REVENUE Choose the answer of the correct format A/B/C, where A-represents the normal balance (debit or credit) B - whether a debit would (increase or decrease) the account C- whether a credit would increase or decrease) the account 1. debit / increase / increase 2. debit / increase I decrease 3. debit/ decrease / increase 4. debit / decrease / decrease 5. credit / increase / increase 6. credit / increase / decrease 7. credit/ decrease / increase 8. credit/ decrease / decrease QUESTION 6 Considering this account PREPAID EXPENSE Choose the answer of the correct format A/B/C, where A- represents the normal balance (debit or credit) B - whether a debit would increase or decrease) the account C - whether a credit would increase or decrease) the account O 1. debit / increase / increase O 2. debit / increase decrease 0 3. debit / decrease / increase 4. debit/ decrease / decrease 0 5. credit increase / increase 0 6. credit / increase / decrease 07. credit decrease / increase 8. credit decrease / decrease QUESTION Considering this account DIVIDENDS DECLARED Choose the answer of the correct format A/B/G, where A represents the normal balance (debitor credit) 8 whether a debt would increase of decrease the account whether a credit would increase or decrease the account 1. debit / increase / increase 3.deb / decrease / increase 4. debit/decrease / decrease 6. credit/ increase / decrease 7.cred/ decrease / increase OB.credit/decrease / decrease