quiz 2 - Quiz on Chapter 2 Version A For the following...

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Version A For the following Multiple Choice Questions, identify the letter of the choice (A,B,C, D or E) that best completes the statement or answers the question. 1. Stephen Company receives $15,000 cash in advance of providing consulting services to Tyler Company. The journal entry to record this transaction will include: A. Credit to cash $15,000 B. Debit to Unearned Consulting Revenue $15,000 C. Credit to Consulting Revenue $15,000 D. Credit to Unearned Consulting Revenue $15,000 E. Debit to Consulting Revenue $15,000 2. Dolly Barton began Barton Consulting Services in October and during that month completed these transactions: a. Invested $10,000 cash, and $15,000 of computer equipment. b. Paid $500 cash for an insurance premium covering the next 12 months. c. Completed an assignment for a customer and billed the client $1,000. e. Paid $200 cash for office supplies. f. Received a bill for $1,000 from the Electricity company. g. Paid $2,000 for October's rent. What was the balance of the cash account after these transactions A. $13,300 D. $8,300 B. $6,300 E. $9,300 C. $7,300 3. A trial balance taken at year-end showed total credits exceed total debits by $4,950. This discrepancy could have been caused by:
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quiz 2 - Quiz on Chapter 2 Version A For the following...

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