63.
An account used to record the stockholders’ investments in a business is called a(n):
64.
Identify the account used by businesses to record the transfer of assets from a business to its
owner for personal use:
65.
Identify the statement below that is correct.
66.
Unearned revenues are generally:
67.
Prepaid expenses are generally:
68.
A company’s formal promise to pay (in the form of a promissory note) a future amount is a(n):
69.
The record of all accounts and their balances used by a business is called a:
70.
A company’s ledger is:
71.
A company’s list of accounts and the identification numbers assigned to each account is
called a:
72.
The numbering system used in a company’s chart of accounts:
73.
A debit:
74.
The right side of a T-account is a(n):
75.
Identify the statement below that is
incorrect
.
76.
A credit is used to record an increase in all of the following accounts
except
:
77.
A debit is used to record an increase in all of the following accounts
except
:
78.
Identify the account below that is classified as a liability in a company’s chart of accounts.
79.
Identify the account below that is classified as an asset in a company’s chart of accounts.
80.
Identify the account below that is classified as an
asset
account.
81.
Identify the account below that is classified as a
liability
account.
82.
Identify the account below that impacts the
Equity
of a business.
83.
A business uses a credit to record:
84.
A simple tool that is widely used in accounting to represent a ledger account and to
understand how debits and credits affect an account balance is called a:
85.
Identify the statement below that is correct.
86.
An account balance is:
87.
Select the account below that normally has a credit balance.
88.
A debit is used to record which of the following?
89.
A credit entry:
90.
A double-entry accounting system is an accounting system:
91.
Ralph Pine Consulting received its telephone bill in the amount of $300, and immediately paid
it. Pine’s general journal entry to record this transaction will include a:
92.
Golddigger Services, Inc. provides services to clients. On May 1, Golddigger Services collected
$60,000 from a client for 6-months services in advance. Golddigger Services’ general journal
entry to record this transaction will include a:
93.
Willow Rentals purchased office supplies on credit. The general journal entry made by Willow
Rentals will include a:
94.
An asset created by prepayment of an insurance expense is:
95.
Richard Redden contributed $70,000 in cash and land worth $130,000 to open a new business,
RR Consulting, Inc. Which of the following general journal entries will RR Consulting, Inc.
make to record this transaction?
96.
Wiley Consulting purchased $7,000 worth of supplies and paid cash immediately. Which of the
following general journal entries will Wiley Consulting make to record this transaction?
97.
J. Brown Consulting paid $500 cash for utilities for the current month. Given the choices
below, determine the general journal entry that J. Brown Consulting will make to record this
transaction.
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.
99.
ABC Catering received $800 cash from a customer for catering services to be provided in the
following month. Given the choices below, determine the general journal entry that ABC
Catering will make to record this transaction.