Try to solve 4 Accounting interview questions and Finance interview questions below. Hints can help you find answers to questions you are having trouble with.

1. Company Vehicle

Chart of accounts
   
Easy  

Your company just purchased a company vehicle with cash. Which actions regarding the Chart of Accounts would take place (double-entry bookkeeping method)?

(Select all acceptable answers.)

The account representing cash is credited.
The account representing cash is debited.
The account representing mobile asset is credited.
The account representing mobile asset is debited.
   


2. Cash Withdrawal

Double-entry bookkeeping
   
Easy  

When a bank's customer makes an ATM cash withdrawal from the customer's account, which classes of the bank's Chart of Accounts will be affected?

   


3. Total Interest

Basic financial statements
   
Easy  

Where can information about the total interest paid during the reporting period be found?

   


4. Fixed Assets Increase

Fixed asset management
   
Easy 

DEF Limited, a company that specializes in high-end audio components, is planning to expand into a new market by investing in a new production line. DEF invested a total of $150,000 into the new production line, consisting of $100,000 received from a five-year loan and $50,000 of DEF’s own cash. DEF’s management has decided to use the straight-line depreciation method over a 10-year period, and the salvage (residual) value of the production line is zero.

What is the increase to DEF’s fixed assets when the production line is put into operation?

$ 
   


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