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Accounting Transactions Quiz
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Accounting Transactions Quiz

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@FairErudition

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Questions and Answers

Which of the following transactions occurred on January 1, 2020?

  • Aaron invested his personal computers worth P50,000 in the business.
  • Received P10,000 for various services rendered.
  • Aaron invested P200,000 to start his business. (correct)
  • Received P2,000 from his clients.
  • Which transaction involved a down payment and a promissory note?

  • Received P2,000 from his clients
  • Received P9,000 as advance payment for services rendered
  • Received P10,000 for various services rendered
  • Purchased computer sets worth P150,000 (correct)
  • Which transaction involved receiving an advance payment for services rendered?

  • Received P2,000 from his clients
  • Received P10,000 for various services rendered
  • Received electric bill for the month of January in the amount of P2,500
  • Received P9,000 as advance payment for services rendered (correct)
  • Which transaction involved buying office supplies?

    <p>Bought office supplies worth P5,000</p> Signup and view all the answers

    Which transaction involved paying salary to John Jay?

    <p>Paid salary to John Jay P5,000</p> Signup and view all the answers

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