Question :
131. Which of the following entries records the receipt of cash : 1239508
131. Which of the following entries records the receipt of cash from patients on account? A. Accounts Payable, debit; Fees Earned, creditB. Accounts Receivable, debit; Fees Earned, creditC. Accounts Receivable, debit; Cash, creditD. Cash, debit; Accounts Receivable, credit
132. Which of the following entries records the collection of cash from cash customers? A. Fees Earned, debit; Cash, creditB. Fees Earned, debit; Accounts Receivable, creditC. Cash, debit; Fees Earned, creditD. Accounts Receivable, debit; Fees Earned, credit
133. Which of the following entries records the receipt of cash for two months’ rent? The cash was received in advance of providing the service. A. Prepaid Rent, debit; Rent Revenue, credit.B. Cash, debit; Unearned Rent, credit.C. Cash, debit; Prepaid Rent, credit.D. Cash, debit; Rent Expense credit.
134. A patient has a physical examination and asks the bookkeeper to mail the bill. The bookkeeper should A. make no entry until the cash is receivedB. Cash, debit; Accounts Receivable, creditC. Cash, debit; Fees Earned, creditD. Accounts Receivable, debit; Fees Earned, credit
135. Prarie Clinic purchased X-ray equipment for $7,500, paid $2,250 down, with the remainder to be paid later. The correct entry would be A. Equipment 2,250 Cash 2,250B. Cash 2,250Accounts Payable 5,250 Equipment 7,500C. Equipment Expense 7,500 Accounts Payable 2,250 Cash 5,250 D. Equipment 7,500 Accounts Payable 5,250 Cash 2,250
136. The process of recording a transaction in the journal is called A. recordingB. journalizingC. postingD. summarizing
137. Scott, Inc. issued $40,000 of capital stock. How would this transaction be entered in the journal? A. Cash 40,000 Capital Stock 40,000 Sold stock for cash.B. Cash 40,000 Inventory 40,000 Sold stock for cash.C. Capital Stock 40,000 Cash 40,000 Sold stock for cash.D. Capital Stock 40,000 Accounts Payable 40,000 Sold stock for cash.
138.
April
23
Cash
26,000
Capital Stock
26,000
Sold common stock.
This journal entry will A. increase Stockholders’ Equity and decrease CashB. increase Cash and decrease Stockholders’ EquityC. increase Cash and increase Stockholders’ EquityD. decrease Cash and decrease Stockholders’ Equity
139.
May
24
Land
105,000
Cash
105,000
Purchased land for business.
What effect does this journal entry have on the accounts? A. Increase to Cash and increase to LandB. Increase to Land and decrease to CashC. Decrease to Cash and decrease to LandD. Increase to Cash and decrease to Land
140.
May
31
Supplies
1,130
Accounts Payable
1,130
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What is the best explanation for this journal entry? A. Purchased supplies with cash.B. Returned supplies previously purchased.C. Purchased supplies on account.D. Paid accounts payable.
