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

 

 

            ????????????

 

 

 

 

 

 

 

 

 

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.