Debit & Credit Fundamentals | 20 Accounting Quiz Questions
Accounting Unlock: 20 four-option debit and credit practice questions with explanations, from normal balances to real journal entries. Educational widescreen YouTube quiz.
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Quiz Questions & Answers
Review every prompt, the correct responses, and helpful context to prep for your own run-through.
Question 1: Which account increases with a debit?
Sales revenue
Accounts payable
Cash
Owner's capital
Question 2: Which account increases with a credit?
Rent expense
Service revenue
Equipment
Prepaid rent
Question 3: A company receives $5,000 cash from its owner as capital. What is the entry?
Dr Cash; Cr Owner's Capital
Dr Capital; Cr Cash
Dr Cash; Cr Revenue
Dr Expense; Cr Cash
Question 4: A business pays $800 cash rent. What is the entry?
Dr Cash; Cr Rent Expense
Dr Rent Expense; Cr Cash
Dr Rent Payable; Cr Revenue
Dr Equipment; Cr Cash
Question 5: The company buys equipment for $2,000 cash. Which entry is correct?
Dr Cash; Cr Equipment
Dr Expense; Cr Payable
Dr Equipment; Cr Cash
Dr Equipment; Cr Revenue
Question 6: Goods for resale are purchased on credit for $1,200 under a perpetual inventory system. Which entry?
Dr Accounts Payable; Cr Inventory
Dr Cash; Cr Inventory
Dr Purchases; Cr Cash
Dr Inventory; Cr Accounts Payable
Question 7: The business collects $900 from an existing customer receivable. Which entry?
Dr Cash; Cr Accounts Receivable
Dr Cash; Cr Sales Revenue
Dr Accounts Receivable; Cr Cash
Dr Cash; Cr Accounts Payable
Question 8: Services worth $1,500 are performed on credit. Which entry?
Dr Cash; Cr Revenue
Dr Accounts Receivable; Cr Service Revenue
Dr Revenue; Cr Accounts Receivable
Dr Expense; Cr Accounts Payable
Question 9: A $600 supplier payable is paid in cash. Which entry?
Dr Cash; Cr Accounts Payable
Dr Expense; Cr Cash
Dr Accounts Payable; Cr Cash
Dr Accounts Receivable; Cr Cash
Question 10: The business receives a $4,000 bank loan in cash. Which entry?
Dr Loan Payable; Cr Cash
Dr Cash; Cr Revenue
Dr Expense; Cr Loan Payable
Dr Cash; Cr Loan Payable
Question 11: The owner withdraws $300 cash for personal use in a sole proprietorship. Which entry?
Dr Drawings; Cr Cash
Dr Salaries Expense; Cr Cash
Dr Cash; Cr Drawings
Dr Owner's Capital; Cr Revenue
Question 12: A business pays $1,200 for 12 months of insurance in advance. Which initial entry?
Dr Insurance Expense; Cr Payable
Dr Prepaid Insurance; Cr Cash
Dr Cash; Cr Prepaid Insurance
Dr Insurance Expense; Cr Revenue
Question 13: At month-end, $100 of prepaid insurance has expired. What is the adjusting entry?
Dr Prepaid Insurance; Cr Expense
Dr Cash; Cr Insurance Expense
Dr Insurance Expense; Cr Prepaid Insurance
Dr Insurance Expense; Cr Cash
Question 14: A customer pays $2,000 for services to be provided next month. Which entry now?
Dr Cash; Cr Service Revenue
Dr Accounts Receivable; Cr Cash
Dr Unearned Revenue; Cr Cash
Dr Cash; Cr Unearned Revenue
Question 15: The business earns $500 of previously unearned revenue. Which entry?
Dr Unearned Revenue; Cr Service Revenue
Dr Cash; Cr Service Revenue
Dr Service Revenue; Cr Unearned Revenue
Dr Expense; Cr Unearned Revenue
Question 16: Employees earned $700 in wages that remain unpaid at year-end. Which entry?
Dr Wages Payable; Cr Cash
Dr Wages Expense; Cr Wages Payable
Dr Cash; Cr Wages Expense
Dr Wages Payable; Cr Revenue
Question 17: The company records $250 depreciation on equipment. Which entry?
Dr Equipment; Cr Depreciation Expense
Dr Accumulated Depreciation; Cr Cash
Dr Depreciation Expense; Cr Accumulated Depreciation
Dr Depreciation Expense; Cr Equipment Payable
Question 18: A company pays $90 cash for utilities used this month. Which entry?
Dr Utilities Payable; Cr Revenue
Dr Cash; Cr Utilities Expense
Dr Utilities Expense; Cr Accounts Payable
Dr Utilities Expense; Cr Cash
Question 19: A customer is refunded $150 cash for returned goods under a perpetual inventory system. Ignoring the inventory-side entry, which sales-side entry?
Dr Sales Returns and Allowances; Cr Cash
Dr Sales Revenue; Cr Accounts Payable
Dr Cash; Cr Sales Returns and Allowances
Dr Accounts Receivable; Cr Cash
Question 20: If total debits in a journal entry equal $3,400, what must total credits equal?
$1,700
$3,400
$6,800
$0