1. Accounts are generally grouped and kept together in the A. trial balance. B. book of original entry. O C. ledger. D. general journal. question. Mr. Frank Blasi operates a movie theater at a downtown location. The theater's chart of accounts includes the following accounts. Account No. Account Title 101 Cash 111 Land 112 Building 121 Accounts Payable 122 123 131 132 141 151 152 153 154 Notes Payable Mortgage Payable Frank Blasi, Capital Frank Blasi, Drawing Admissions Revenue Advertising Expense Film Rental Expense Light and Power Expense Salaries Expense 2. On May 30, the XYZ Studios was paid $750, the balance due on the showing of their production. What account was debite O A. Cash OB. Notes Payable C. Accounts Payable for the question. 3. The process of transferring the information contained in the journal to the ledger is called O A. cross-referencing. O B. posting. O C. cross-adding. O D. balancing the accounts. Select the best answer for the question. 4. A trial balance indicates that the debit total exceeds the credit total by $63. Which of the following errors is the most probable so OA. An asset with a balance of $670 was mistakenly entered in the ledger as a $607 debit. B. An asset with a balance of $63 was mistakenly entered in the ledger as a credit for that amount, instead of a debit. C. A liability with a balance of $63 was mistakenly entered in the ledger as a debit for that amount, instead of a credit. D. A liability with a balance of $970 was mistakenly entered in the ledger as a $907 credit. Mark for review (Will be highlighted on the review page) Mr. Frank Blasi operates a movie theater at a downtown location. The theater's chart of accounts includes the following accounts. Account No. Account Title 101 111 112 121 122 123 131 132 141 151 152 153 154 Cash Land Building Accounts Payable Notes Payable Mortgage Payable Frank Blasi, Capital Frank Blasi, Drawing Admissions Revenue Advertising Expense Film Rental Expense Light and Power Expense Salaries Expense 5. The box office cash receipts amounted to $1,140 for the week ending May 14. Which one of the following accounts was debited wh O A. Frank Blasi, Capital B. Accounts Payable C. Admissions Revenue D. Cash + Question 6 of 20 : Select the best answer for the question. Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 6. The balance in the cash account as of March 31 was O A. $3,970. O B. $4,195. C. $4,270. O D. $3,375. Select the best answer for the question. 7. The order in which accounting procedures are performed is O A. 1) posting to the ledger, 2) recording in the journal, 3) preparing a trial balance. OB. 1) recording in the journal, 2) posting to the ledger, 3) preparing a trial balance. OC. 1) recording in the journal, 2) preparing a trial balance, 3) posting to the ledger. OD. 1) posting to the ledger, 2) preparing a trial balance, 3) recording in the journal. Mark for review (Will be highlighted on the review page) Question 8 of 20: Select the best answer for the question. Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 8. To which one of the following accounts was the credit entry posted on March 1 to record Mr. James's $25,000 contribution to the Drive-In Parking System? OA. Cash OB. Land C. William James, Capital O D. Accounts Payable 9. Which one of the following statements is true of a transaction in a T-account? OA. A debit entry represents a decrease to a revenue account. O B. A credit entry represents an increase to an asset account. O C. A credit entry represents an increase to an expense account. OD. A debit entry represents an increase to a liability account. Question 10 of 20: Select the best answer for the question. Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 10. Total assets for the Drive-In Parking System shown on the balance sheet as of March 31 were O A. $25,740. O B. $10,055. C. $31,600. O D. $35,795. Select the best answer for the question. 11. The process of entering journal page numbers of transactions in the ledger and then entering the account numbers in the journal is referred to as O A. journalizing. O B. balancing. OC. cross-adding. O D. cross-referencing. Question 12 of 20 : Select the best answer for the question. Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 12. The debit total of the trial balance prepared as of March 31 for the Drive-In Parking System was O A. $34,025. O B. $37,565. O C. $36,825. O D. $35,925. Mark for rovinw. Will be highlighted on the review nogal Mr. Frank Blasi operates a movie theater at a downtown location. The theater's chart of accounts includes the following accounts. Account No. Account Title 101 Cash 111 112 Land Building 121 Accounts Payable 122 Notes Payable 123 Mortgage Payable 131 Frank Blasi, Capital 132 141 151 152 Frank Blasi, Drawing Admissions Revenue Advertising Expense Film Rental Expense 153 154 Light and Power Expense Salaries Expense 13. On May 2, Mr. Blasi purchased land for $14,500 and a theater building for $30,500, paying cash in the amount of $25,000 and signing a note payable for t $20,000. What two accounts were debited when this transaction was recorded? O A. Land and Buildings OB. Cash and Notes Payable C. Mortgage Payable and Accounts Payable OD. Frank Blasi, Capital, and Frank Blasi, Drawing Question 14 of 20: Select the best answer for the question. Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 14. In recording the cash collected on March 5, which one of the following accounts would be credited? O A. Parking Fees O B. Notes Receivable O C. Accounts Payable OD. Cash 15. One of the primary purposes of preparing a trial balance is to A prepare the accounts for posting to the ledger OB determine that the total dollar amount of the debits equals the total dollar amount of the credits. Creamange the accounts in alphabetical order OD ensure that the number of accounts with debit balances is equal to the number of accounts with credit balances. Select the best answer for the question. + Utilize the information for Drive-In Parking System to answer this question from the following PDF: https://lessons.pennfoster.com/pdf/061003_Exam_Tables.pdf 16. To record the amount due for the electricity used during the month of March, a credit entry was made on March 31 to O A. Lighting Expense. O B. Cash. OC. Notes Payable. O D. Accounts Payable. Mark for review (Will be highlighted on the review pagal the question. 17. The left side of any account is always the debit side. The debit side is used to record A. increases in assets and decreases in liabilities. B. decreases in assets and increases in liabilities. C. increases in liabilities and owner's equity. OD. decreases in assets and liabilities. Select the best answer for the question Mr. Frank Blasi operates a movie theater at a downtown location. The theater's chart of accounts includes the following accounts. Account No. Account Title 101 Cash 111 Land 112 Building 121 Accounts Payable 122 Notes Payable 123 Mortgage Payable 131 Frank Blasi, Capital 132 141 151 152 153 154 Frank Blasi, Drawing Admissions Revenue Advertising Expense Film Rental Expense Light and Power Expense Salaries Expense 18. On May 11, Mr. Blasi arranged with XYZ Studios for a two-week showing of their most recent production, at a total rental of $1,500. A cash pay balance to be paid after the run was over. What two accounts were credited when this transaction was recorded? O A. Notes Payable and Cash OB. Film Rental Expense and Cash OC. Accounts Payable and Cash OD. Frank Blasi, Drawing, and Cash Question 19 of 20: Select the best answer for the question. 19. To determine the effects of an entire accounting transaction, you would consult the accounting record called the OA. T-account. OB. journal. O C. register. OD. ledger. Select the best answer for the question. The accounting records of the John Day Company contained the following ledger balances as of May 31, 20XX. Item Cash Notes Payable Balance $14,636 12,814 Accounts receivable 29,827 Accounts Payable 11,421 Taxes Payable 197 Office Equipment Capital 1,969 22,000 20. In preparing a trial balance, how many of the above accounts will you list in the debit column and how many in the credit column? 000 A. 2 debit accounts and 5 credit accounts B. 5 debit accounts and 2 credit accounts O C. 3 debit accounts and 4 credit accounts O D. 4 debit accounts and 3 credit accounts Mark for review (Will he highlighted on the