Question :
171. The process of transferring the journal entries to the accounts : 1246819
171. The process of transferring the journal entries to the accounts is known as A. postingB. updatingC. journalizingD. summarizing
172. The posting process will include the transfer of the following information from the journal to the account. A. date, amount (debit or credit)B. date, amount (debit or credit), journal page numberC. amount (debit or credit), account numberD. date, amount (debit or credit) account number
173. The post reference columns are used to trace transactions from the journal to the accounts. What will be posted on the post reference column of (a) the journal and (b) on the account? A. (a) the amount of the debit or credit (b) the journal page numberB. (a) the journal page number (b) the date of the transactionC. (a) the journal page number, (b) the account numberD. (a) the account number, (b) the journal page number
174. Use the following information to answer questions 96-98.The chart of account for the Corning Company includes some of the following accounts:
Account Name
Account Number
Cash
11
Accounts Receivable
13
Prepaid Insurance
15
Accounts Payable
21
Unearned Revenue
24
Capital Stock
31
Dividends
32
Fees Earned
41
Salaries Expense
54
Rent Expense
56
On the journal page 3, the following transaction was found:
Prepaid Insurance
1,530
Cash
1,530
What is the post reference that will be found on the cash account? A. 11B. 15C. 3D. None
175. Use the following information to answer questions 96-98.The chart of account for the Corning Company includes some of the following accounts:
Account Name
Account Number
Cash
11
Accounts Receivable
13
Prepaid Insurance
15
Accounts Payable
21
Unearned Revenue
24
Capital Stock
31
Dividends
32
Fees Earned
41
Salaries Expense
54
Rent Expense
56
Prepaid Insurance
1,530
Cash
1,530
What is the post reference that will be found on the Prepaid Insurance account? A. 11B. 15C. 3D. None
176. Use the following information to answer questions 96-98.The chart of account for the Corning Company includes some of the following accounts:
Account Name
Account Number
Cash
11
Accounts Receivable
13
Prepaid Insurance
15
Accounts Payable
21
Unearned Revenue
24
Capital Stock
31
Dividends
32
Fees Earned
41
Salaries Expense
54
Rent Expense
56
On the journal page 3, the following transaction was found:
Prepaid Insurance
1,530
Cash
1,530
What is the post reference that will be found on the journal entry? A. 15, 11B. 15C. 11D. 3
177. The chart of account for the Miguel Company includes some of the following accounts:
Account Name
Account Number
Cash
11
Accounts Receivable
13
Prepaid Insurance
15
Accounts Payable
21
Unearned Revenue
24
Capital Stock
31
Dividends
32
Fees Earned
41
Salaries Expense
54
Rent Expense
56
On the journal page 3, the following transaction was found:
Cash
640
Fees Earned
640
What is the post reference that will be found on the journal entry? A. 41B. 3C. 11, 41D. 11
178. The chart of account for the Miguel Company includes some of the following accounts:
Account Name
Account Number
Cash
11
Accounts Receivable
13
Prepaid Insurance
15
Accounts Payable
21
Unearned Revenue
24
Capital Stock
31
Dividends
32
Fees Earned
41
Salaries Expense
54
Rent Expense
56
On the journal page 5, the following transaction was found:
Salaries Expense
525
Cash
525
What is the post reference that will be found on the Salaries Expense account? A. 5B. 11C. 54D. None
179. The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. All accounts have normal balances.
Accounts Payable
1,500
Fees Earned
3,000
Accounts Receivable
1,800
Insurance Expense
1,300
Investment
2,000
Land
3,000
Cash
2,600
Wages Expense
1,400
Dividends
1,200
Capital Stock
8,800
The total of all the assets is: A. $9,400B. $9,000C. $9,100D. $9,800
180. A trial balance is prepared to A. prove that there were no errors made in recording transactions into the journalB. prove that no errors were made in posting to the ledgerC. prove that each account balance is correctD. summarize the account balances to help prepare financial statements
