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1、1, How do we recorded a liability created by the receipt of cash from customers in payment for products or services that have not yet been delivered to the customers?A, recorded as a debit to an unearned revenue accountB, recorded as a debit to a prepaid expense accountC, recorded as a credit to an
2、unearned revenue accountD, recorded as a credit to a prepaid expense account.c3, during the month of February, Hal Company had cash receipt of 6500 and cash disbursement of 8000. The February 28 cash balance was 4300. What was the beginning (February 1) cash balance?A, 1500B, 2800C, 5800D, 7300X+650
3、0-8000=4300X=5800 C4, Aimes opened a new business by investing the following assets: cash 4000; land 0; building 80000. Also, the business will assume responsibility for a note payable of 3. Aimes signed the note as part of his payment for the land and building. Which journal entry should be used on
4、 the books of the new business to record the investment by Aimes?A, Dr. Asserts 104000Cr. Capital 104000 B, Dr. Asserts 104000 Cr. Liability 3 Capital 7 C, Dr. Cash 4000 Land 0 Building 80000 Cr. Capital 104000 D, Dr. Cash 4000 Land 0 Building 80000 Cr. Notes payable 3 Capital 7D5, the following tra
5、nsaction occurred during July:-received 700 cash for photography service provided to customer during the month-received 1500 cash from Barbara, the owner of the business-received 800 from a customer in partial payment of his account receivable which arose as a result of sales during June-rendered ph
6、otography services to a customer on credit. 500-borrowed 2500 from bank-received 1000 from a customer in payment for services to be performed next yearWhat was the amount of revenue for July?A, 1200B, 3000C, 5500D, 7000700 yes, 500 yes 700+500=1200 A6, How do we record an assets created by a payment
7、 for economic benefits that does not expire until some later time?A, recorded as a debit to an unearned revenue accountB, recorded as a debit to a prepaid expense accountC, recorded as a credit to an unearned revenue accountD, recorded as a credit to a prepaid expense accountB7, On September 30, acc
8、ounts payable had a normal balance of 2300. During September, the account was credited for a total of 5400 and debited for a total 3900. What was the balance in the accounts payable at the beginning of September?A, A 0 balanceB, An 800 debit balance C, An 800 credit balanceD, A 3800 debit balanceC10
9、, on April 30, Hal Company had an accounts receivable balance of 37000. During the month of May, total credits to accounts receivable were 24000, which resulted from customer payments. The May 31 accounts receivable balance was 3. What was the amount of credit sales during May?A, 19000B, 29000C, 450
10、00D, 5600037000+x-24000=3 x=19000 AA company purchased 1800 of merchandise on December 5, term 2/10, n/15. On December 7, 200 worth of merchandise was returned by A company to the supplier. On December 15, A paid the balance in full. What was the amount that A company paid?A, 200B, 1568C, 1600D, 180
11、0BCarrie Ford opened a new accounting practice called Carrie Ford, Public accountant, and completed these transaction during March Mar. 1 Invested 25000 in cash and office equipment that had a fair value (公允价值) of 6000.1 Prepaid 1800 cash for three months rent for an office.3 Made credit purchase of
12、 office equipment for 3000 and office supplies for 600.5 Completed work for a client and immediately received 500 cash 9 Completed a project for a client, who will pay within 30 days11 Paid the account payable created on March 315 Paid 1500 cash for the annual premium on an insurance policy.20 Recei
13、ved 1600 as partial payment for the work completed on Match 923 Completed work for another client for 660 on credit27 Carrie Ford withdrew 1800 cash from the business to pay some personal expense30 Purchased 200 of additional office supplies on credit31 Paid 175 for the months utility bill.(1) Prepa
14、re journal entries to record the transaction (2) Finish the adjusting entries for the transaction above.(1) Dr. cash 25000 Office equipment 6000 Cr. Capital 31000 Dr. prepaid rent 1800 Cr. Cash 1800 Dr. office equipment 3000 Office supplies 600 Cr. Accounts receivable 3600 Dr. cash 500 Cr. Service revenue 500 Dr. accounts receivable Cr. Service revenue Dr. prepaid insurance 1500 Cr. Cash 1500 Dr. cash 1600 Cr. Accounts receivable 1600 Dr. accounts receivable 660 Cr. Service revenue 660 Dr. drawing 1800 Cr. Cash 1800 Dr. Office supplies 200 Cr. Accounts payable 200 Dr. utili
