Question : 98.J. Brown Consulting paid $2,500 cash for a 5-month insurance : 1258608

 

 

98.J. Brown Consulting paid $2,500 cash for a 5-month insurance policy which begins on December 1. Given the choices below, determine the general journal entry that J. Brown Consulting will make to record this transaction.    

A.  Insurance Expense2,500

Cash 2,500

 

 

B.  Cash2,500

Insurance Expense 2,500

 

 

C.  Cash2,500

Prepaid Insurance 2,500

 

 

D. Prepaid Insurance2,500

Cash 2,500

 

 

E.  Insurance Expense2,500

Prepaid Insurance 2,500

 

 

 

 

 

99.ABC Catering received $800 cash from a customer for catering services to be provided next month. Given the choices below, determine the general journal entry that ABC Catering will make to record this transaction.    

A.  Unearned Catering Revenue800

Catering Revenue 800

 

 

B.  Cash800

Accounts Receivable 800

 

 

C.  Cash800

Unearned Catering Revenue 800

 

 

D.  Cash800

Catering Revenue 800

 

 

E. Accounts Receivable800

Catering Revenue 800

 

 

 

 

 

100.Grills R Us Catering provided $1,000 of catering services and billed its client for the amount owed. Given the choices below, determine the general journal entry that Grills R Us Catering will make to record this transaction.    

A.  Unearned Catering Revenue1,000

Catering Revenue 1,000

 

 

B.  Catering Revenue1,000

Accounts Receivable 1,000

 

 

C.  Accounts Receivable1,000

Unearned Catering Revenue 1,000

 

 

D.  Accounts Receivable1,000

Catering Revenue 1,000

 

 

E.  Cash1,000

Catering Revenue 1,000

 

 

 

 

 

101.Trimble Graphic Design receives $1,500 from a client billed in a previous month for services provided. Which of the following general journal entries will Trimble Graphic Design make to record this transaction?    

A.  Cash1,500

Accounts Receivable 1,500

 

 

B.  Cash1,500

Unearned Design Revenue 1,500

 

 

C. Accounts Receivable1,500

Unearned Design Revenue 1,500

 

 

D.  Cash1,500

Design Revenue 1,500

 

 

E. Accounts Receivable1,500

Cash 1,500

 

 

 

 

 

102.The company paid $100 cash in dividends to J. Smith, the owner. Which of the following general journal entries will Jay’s Limo Services, Inc. make to record this transaction?    

A.  Dividends100

Cash 100

 

 

B. Cash100

Dividends 100

 

 

C. Common Stock100

Dividends 100

 

 

D. Dividends100

Common Stock 100

 

 

E. Cash100

Common Stock 100

 

 

 

 

 

103.Jay’s Limo Services, Inc. paid $300 cash to employees for work performed in the current period. Which of the following general journal entries will Jay’s Limo Services, Inc. make to record this transaction?    

A.  Salaries Expense300

Accounts Payable 300

 

 

B.  Cash300

Salaries Expense 300

 

 

C. Salaries Expense300

Dividends 300

 

 

D. Salaries Payable300

Salaries Expense 300

 

 

E. Salaries Expense300

Cash 300

 

 

 

 

 

104.Able Graphics received a $400 utility bill for the current month’s electricity. It is not due until the end of the next month which is when they intend to pay it. Which of the following general journal entries will Able Graphics make to record this transaction?    

A. Utilities Expense400

Cash 400

 

 

B. Cash400

Utilities Expense 400

 

 

C. Utilities Expense400

Accounts Payable 400

 

 

D.  Accounts Payable400

Utilities Expense 400

 

 

E.  Utilities Payable400

Cash 400

 

 

 

 

 

105.HH Consulting & Design provided $800 of consulting work and $100 of design work to the same client. It billed the client for the total amount and is expecting to collect from the customer next month. Which of the following general journal entries will HH Consulting & Design make to record this transaction?    

A.  Design Revenue100

Consulting Revenue800

Accounts Receivable 900

 

 

B.  Accounts Payable800

Design Revenue 100

Consulting Revenue 800

 

 

C.  Cash900

Consulting Revenue 800

Design Revenue 100

 

 

D.  Cash900

Design Revenue 100

Consulting Revenue 800

 

 

E.  Accounts Receivable900

Consulting Revenue 800

Design Revenue 100

 

 

 

 

 

106.Gi Gi’s Dance Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100. The client paid immediately. Identify the general journal entry below that Gi Gi’s will make to record the transaction.    

A.  Rental Revenue100

Instruction Revenue150

Cash 250

 

 

B.  Accounts Payable250

Rental Revenue 100

Instruction Revenue 150

 

 

C.  Cash250

Rental Revenue 100

Instruction Revenue 150

 

 

D.  Accounts Receivable250

Rental Revenue 100

Instruction Revenue 150

 

 

E.  Unearned Revenue250

Rental Revenue 100

Instruction Revenue 150

 

 

 

 

 

107.Geraldine Parker, the owner of Gi Gi’s Dance Studio, Inc., started the business by investing $10,000 cash and donating a building worth $20,000. Identify the general journal entry below that Gi Gi’s will make to record the transaction.    

A.  Cash30,000

Common Stock 30,000

 

 

B.  Common Stock30,000

Cash 10,000

Building 20,000

 

 

C.  Cash10,000

Building20,000

Common Stock 30,000

 

 

D. Common Stock30,000

Retained Earnings 30,000

 

 

E.  Cash & Building30,000

Common Stock 30,000

 

 

 

 

 

 

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