The proper journal entry to record Ransom Companys billing of clients for 500

The proper journal entry to record ransom companys

This preview shows page 4 - 6 out of 6 pages.

5. The proper journal entry to record Ransom Company’s billing of clients for $500 of services rendered is: Cash500Accounts Receivable500Accounts Receivable500Capital Stock500Accounts Receivable500Service Revenue500
Image of page 4
Chapter 2 Practice test questions Cash 500 Service Revenue 500 6. The proper journal entry to record $1,000 of Dividends paid by Myer’s Corporation is: 7. Lynn Lipincott invested land valued at $5,000 in her business. This transaction would be recorded by:Cash5,000Capital Stock5,000Land5,000Capital Stock5,000Land5,000
Image of page 5
Chapter 2 Practice test questions Service Revenue 5,000 Capital Stock 5,000 Land 5,000 8. The trial balance: 9. Which of the following errors will be disclosed in the preparation of a trial balance? 10. The basic sequence in the accounting process can best be described as: Transaction, journal entry, source document, ledger account, trial balance.Source document, transaction, ledger account, journal entry, trial balance.Transaction, source document, journal entry, trial balance, ledger account.Transaction, source document, journal entry, ledger account, trial balance.
Image of page 6

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture