Kentucky Funeral Directors Exam Guide With Questions And Answers.

Kentucky Funeral Directors Exam Guide With Questions And
Answers.




Basic Accounting theory is based on - Double Entry



The group of accounts which you debit when increased are - assets and expenses



The group of accounts which you credit to increase are - liabilities and capital



When a funeral director buys a casket coach on credit, he would - debit casket coach and credit
accounts payable



The payment of rent by cash is recorded - debit rent expense and credit cash



Purchase of office supplies on credit is recorded by - debit office supplies and credit accounts payable



A ledger is a - book of accounts



An entry on the debit side of a liability account indicates the account has been - decreased



An entry made on the debit side of the proprietorship account indicates that the account has been -
decreased



The beginning balance in the supplies account is $600. During the month an additional $800 worth of
supplies were purchased. At the end of the month, an inventory of the supplies found that only $300
remained on hand. What would be the amount of the adjusting entry for the supplies account? -
$1,100.00




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