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Jump to Navigation Frame Your location: Home Page Quizzes Quiz Chapter 3 Assessments View All Submissions View Attempt View Attempt 1 of 1 Title: Quiz Chapter 3 Started: August 29, 2009 11:55 AM Submitted: August 29, 2009 1:13 PM Time spent: 01:17:50 Total score: 70/100 = 70% Total score adjusted by 0.0 Maximum possible score: 100 1. Qs 1
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On March 1, 20x1 you purchased for cash a two-year insurance policy for $2400. The adjusting entry on December 31, 20x1 assuming that the original entry included a debit to a real/permanent/balance sheet account would be the following: Student Response Value Correct Answer Feedback 1. Dr. Insurance Expense; Cr. Insurance Payable 2. Dr. Insurance Expense; Cr. Cash 3. Dr. Prepaid Insurance; Cr. Insurance Expense 4. Dr. Prepaid Insurance; Cr. Cash 5. Dr. Insurance Expense; Cr Prepaid Insurance 100% Score: 10/10 2. Qs 2
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On March 1, 20x1 you purchased for cash a two-year insurance policy for $2400. The dollar amount of the adjusting entry on December 31, 20x1 assuming that the original entry included a debit to a real/permanent/balance sheet account would be the following: Student Response Value Correct Answer Feedback 1. $1,000 2. $1,200 3. $1,400 0% 4. $2,400 5. none of the above. General Feedback: Original entry: dr. Prepaid Ins. 2400; cr Cash 2400 Adjusting entry: Dr. Insurance expense 1000; cr. Prepaid expense 1000 Ending Balances: Prepaid insurance = 1400; Insurance
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quiz3 - Jump to Navigation Frame Your location: Home Page...

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