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
