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ARMSTRONG 11a practicemidterm 1.pdf
ARMSTRONG_11a_practicemidterm_1.pdf
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Page 14
50.
On September 30, the Cash account of Value Company had a normal balance of $5,000.
During September, the account was debited for a total of $12,200 and credited for a total
of $11,500.
What was the balance in the Cash account at the beginning of September?
A)
A $0 balance.
B)
A $4,300 debit balance.
C)
A $4,300 credit balance.
D)
A $5,700 debit balance.
E)
A $5,700 credit balance.
Page 13
Page 15
Answer Key
1. E
2. C
3. C
4. B
5. C
6. B
7. D
8. A
9. D
10. C
11. C
12. D
13. A
14. D
15. D
16. A
17. D
18. C
19. B
20. E
21. E
22. D
23. E
24. A
25. C
26. D
27. D
28. D
29. A
30. B
31. E
32. B
33. A
34. B
35. E
36. A
37. D
38. D
39. E
40. E
41. B
42. D
43. B
44. D
Page 14
Page 16
45. C
46. E
47. D
48. C
49. A
50. B
Page 15
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