1. The debited account if merchandise are purchased and paid in cash is:
a) Cash
b) Merchandise
c) Bank deposit
d) Expenses with merchandise
2. The credited account of depreciation is recorded for the current year for a piece of equipment is:
a) Equipment
b) Accumulated depreciation
c) Expense with accumulated depreciation
d) Bank deposit
3. Raw materials 13,000 mu; capital 45,000 mu; reserves 7,000; land 25,000 mu; suppliers 11,000 mu; clients???.
The value of missing element is:
a) 11,000 mu
b) 25,000 mu
c) 51,000 mu
d) 15,000 mu.
4. State whether the following transactions generate expenses (explain your judgement):
a) purchase of raw
materials;
b) consumption of raw
materials;
c) acquisition of
merchandise on credit;
d) disposal of merchandise
sold;
e) recording the phone
bill;
f) payment of bank fees;
g) recording dividends to
be paid to shareholders.
1. State whether the following transactions generate income (explain your judgement):
1
2. Merchandise acquired during current month 17000 units * 3 mu / unit. If half of them are sold for 5 mu / unit -
sale price, determine the value of closing inventory and provide full details of journalized events and of computation
(accounting analysis and records in the T accounts).
a) acquisition of
merchandise at 500 lei
acquisition cost on credit;
b) acquisition of
merchandise of 1000 lei
on cash;
2
Transaction Accounting Analysis
h) acquisition of van of
55.000 lei on credit;