Antonios catered a reception the total price was 1200 the

Assignment Help Accounting Basics

Reference no: EM13568664

1.Paid the rent for the next six months.
A) An asset would be debited and an expense credited.
B) An asset would be debited and a revenue credited.
C) Capital would be debited and a revenue credited.
D) An asset would be debited and an asset credited.

2.The journal described as the simplest form is a (an):
A) accounting journal.
B) general journal.
C) special journal.
D) interim journal.

3.The process of initially recording business transactions in a journal is:
A) posting.
B) sliding.
C) journalizing.
D) transposing.

4.In the month of June, Davis Computers paid three months' rent in advance.The journal entry to record this transaction is:
A) Rent Expense Cash
B) Cash Prepaid Rent
C) Cash Rent Expense
D) Prepaid Rent Cash

5.Antonio's catered a reception. The total price was $1,200. The customer paid $200 cash and charged the remainder. The journal entry to record this trans- action is:
A) Cash 200
Accounts Receivable 200
B) Cash 200
Accounts Receivable 1,000
Catering Service Fees 1,200

Reference no: EM13568664

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