This Website Has Been Moved to a New Link


Loading

P3-2A For each of the following entries, enter the letter of the explanation

Price: $3.99


For each of the following entries, enter the letter of the explanation that most closely describes it in the space beside each entry (You can use letters more than once.)

A. To record receipt of unearned revenue.
B. To record this period’s earning of prior unearned revenue.
C. To record payment of an accrued expense.
D. To record receipt of an accrued revenue.
E. To record an accrued expense.
F. To record an accrued revenue.
G. To record this period’s use of a prepaid expense.
H. To record payment of a prepaid expense.
I. To record this period’s depreciation expense.

1. Rent Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000
Prepaid Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000
______ 2. Interest Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000
Interest Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,000
______ 3. Depreciation Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,000
Accumulated Depreciation . . . . . . . . . . . . . . . . . . . . . 4,000
______ 4. Unearned Professional Fees . . . . . . . . . . . . . . . . . . . . . . . . 3,000
Professional Fees Earned . . . . . . . . . . . . . . . . . . . . . . 3,000
______ 5. Insurance Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,200
Prepaid Insurance . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,200
______ 6. Salaries Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,400
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,400
______ 7. Prepaid Rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500
Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4,500
______ 8. Salaries Expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
Salaries Payable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000
______ 9. Interest Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000
Interest Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,000
______ 10. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,000
Accounts Receivable (from consulting) . . . . . . . . . . . 9,000
______ 11. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,500
Unearned Professional Fees . . . . . . . . . . . . . . . . . . . . 7,500
______ 12. Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000
Interest Receivable . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,000

No comments:

Post a Comment