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1. Open the "Cash" account and debit Rent Revenue. 2. Open the "Prepaid Rent" account and credit Rent Expense. 3. Close the "Cash" account and the "Prepaid Rent" account. 4. Close the "Rent Revenue" account and the "Unearned Rent" account.
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If cash is received from customers in payment for services that have not yet been performed, the business would record the cash receipt as: Multiple Choice A debit to an unearned revenue account. A debit to a prepaid expense account. A credit to an unearned revenue account. A credit to a prepaid expense account. A credit to accounts payable.
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If cash is received from customers in payment for services that have not yet been performed, the business will record the cash as okay. Since cash is received, we are supposed to know that cash is reputed. We can because cash is a received student. As the product students, product or services are not laboured or services, the cash is debited. There are students who are not delivered. We can't recognize the students, we can't recognize the revenue students, and therefore, it's recorded to when it's a recorded 2 need revenue. We're going to go to the option. We can say that the delton unearned revenue account is not correct and that the debt to a prepared expense account is incorrect. It's wrong to give a credit to an account that isn't their own. Credit to a prepared expense account is a correct option. It's round a credit to the accounts. This is the final answer to the question and we can mention that option cisterns is a correct option because it is also an inappropriate one.
44.Which of the following entries records the receipt of cash for two months' rent? The cash wasreceived in advance of providing the service.a.Prepaid Rent, debit; Rent Revenue, credit.b.Cash, debit; Unearned Rent, credit.c.Cash, debit; Prepaid Rent, credit.
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College Accounting, Chapters 1-27
Heintz/Parry
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d.Cash, debit; Rent Expense credit.ANS: B45.A patient has a physical examination and asks the bookkeeper to mail the bill.The bookkeeper should
46.Proof that the dollar amount of the debits equals the dollar amount of the credits in the ledgermeans
47.Which of the following is true about a T-Account?
48.Which of the following abbreviations are correct?a.Debit “Dr”, Credit “Cd”b.Debit “Db”, Credit “Cr”c.Debit “Db”, Credit “Cd”d.Debit “Dr”, Credit “Cr”ANS: D
49.When amounts of a transaction are entered on the left side of an account, they are said to be
50.When amounts of a transactions are entered in an account on the right hand side, they are said to be
51.Which side of the account increases a cash account?
52.A cash payment is recorded on the cash account as a
a.neither a debit or a creditb.creditc.debitd.either a debit or a creditANS: B
53.The balance of the account is determined by
54.A list of the accounts is called
55.On the chart of accounts, the balance sheet accounts are normally listed in the following order