Question :
98. J. Brown Consulting paid $2,500 cash for a 5-month : 1257781
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 entrythat J. Brown Consultingwill make to record this transaction.
A.
Insurance Expense
2,500
Cash
2,500
B.
Cash
2,500
Insurance Expense
2,500
C.
Cash
2,500
Prepaid Insurance
2,500
D.
Prepaid Insurance
2,500
Cash
2,500
E.
Insurance Expense
2,500
Prepaid Insurance
2,500
99. ABC Catering received $800 cash from a customerfor 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 Revenue
800
Catering Revenue
800
B.
Cash
800
Accounts Receivable
800
C.
Cash
800
Unearned Catering Revenue
800
D.
Cash
800
Catering Revenue
800
E.
Accounts Receivable
800
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 entrythat Grills R Us Catering will make to record this transaction.
A.
Unearned Catering Revenue
1,000
Catering Revenue
1,000
B.
Catering Revenue
1,000
Accounts Receivable
1,000
C.
Accounts Receivable
1,000
Unearned Catering Revenue
1,000
D.
Accounts Receivable
1,000
Catering Revenue
1,000
E.
Cash
1,000
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.
Cash
1,500
Accounts Receivable
1,500
B.
Cash
1,500
Unearned Design Revenue
1,500
C.
Accounts Receivable
1,500
Unearned Design Revenue
1,500
D.
Cash
1,500
Design Revenue
1,500
E.
Accounts Receivable
1,500
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.
Dividends
100
Cash
100
B.
Cash
100
Dividends
100
C.
Common Stock
100
Dividends
100
D.
Dividends
100
Common Stock
100
E.
Cash
100
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 Expense
300
Accounts Payable
300
B.
Cash
300
Salaries Expense
300
C.
Salaries Expense
300
Dividends
300
D.
Salaries Payable
300
Salaries Expense
300
E.
Salaries Expense
300
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 Expense
400
Cash
400
B.
Cash
400
Utilities Expense
400
C.
Utilities Expense
400
Accounts Payable
400
D.
Accounts Payable
400
Utilities Expense
400
E.
Utilities Payable
400
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 Revenue
100
Consulting Revenue
800
Accounts Receivable
900
B.
Accounts Payable
800
Design Revenue
100
Consulting Revenue
800
C.
Cash
900
Consulting Revenue
800
Design Revenue
100
D.
Cash
900
Consulting Revenue
800
Design Revenue
100
E.
Accounts Receivable
900
Consulting Revenue
800
Design Revenue
100
106. GiGi’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 GiGi’s will make to record the transaction.
A.
Rental Revenue
100
Instruction Revenue
150
Cash
250
B.
Accounts Payable
250
Rental Revenue
100
Instruction Revenue
150
C.
Cash
250
Rental Revenue
100
Instruction Revenue
150
D.
Accounts Receivable
250
Rental Revenue
100
Instruction Revenue
150
E.
Unearned Revenue
250
Rental Revenue
100
Instruction Revenue
150
107. Geraldine Parker, the owner of GiGi’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 GiGi’s will make to record the transaction.
A.
Cash
10,000
Common Stock
30,000
B.
Common Stock
30,000
Cash
10,000
Building
20,000
C.
Cash
10,000
Building
20,000
Common Stock
30,000
D.
Common Stock
30,000
Retained Earnings
30,000
E.
Cash & Building
30,000
Common Stock
30,000
