1 Normal REPEL Heading 2 1 No Spac... Heading 1 Heading 2 Title 9 Dictat Seled Font Paragraph Styles Etin Voice 10. Use the following information as of December 31 to determine equity 15. A ledger is: A A record containing increases and decreases in a specific asset, liability, equity reset or expense $141.000 57.000 206,000 175,000 B A journal in which transactions are first recorded C. A collection of documents that describe transactions and events entering the accounting process D. A list of all accounts with their debit balance at a point in time E. A record containing all accounts and their balances used by a company A. 357,000 B. $141,000 C. 5297,000 D. 3438.000 B. $579.000 16. Robert Haddon contributed $70,000 in cash and land worth $130,000 to open a new business, RH Consulting. Which of the following general journal entries will RH Consulting make to record this transaction? A. Debit Assets $200,000; credit Haddon, Capital, 5200,000. B. Debit Cash and Land, 5200,000; credit Haddon, Capital, $200,000 C. Debit Cath $70,000; debit Land $130,000, credit Haddon, Capital, $200,000 D. Debit Haddon, Capital, 5200,000; credit Cash 570,000 credit Land, 3130,000 E. Debit Haddon, Capital, $200,000; credit Assets, 5200,000 11. Source documents include all of the following except. A Sales tickets B. Ledgers C. Checker D. Purchase orders FB stamente 17. The following transactions occurred during July 1. Received $900 cash for services provided to a customer during July 2. Received $2 200 cash investment from Barbara Hanson, the owner of the business 3. Received $50 from a customer in partial payment of his account receivable which arose from sales in 12. Which of the following statements is correct? A. When a future expense is paid in advance the payment is normally recorded in a labuiry account called Prepaid Expense. B. Promises of future payment by the buyer are called accounts receivable. C. Increases and decreases in cash are always recorded in the owner's capital account D. An account called Land is commonly used to record increases and decreases in both the land and building awed by a business, E Accred liabilities include accounts receivable 4. Provided services to a customer on credit, $375 3. Borrowed $6,000 from the bank by signing a promissory note. 6. Received 51,250 cash from a customer for services to be rendered next year What was the amount of revenue for July A $ 900. B. S 1,275 C. 5 2.525. D. 53,275 E $11.100. 13. Gamed revenues are: A. Revenues that has been ested and received in casa B Peremues that have been earned but not yet collected in cash os D Focus 8 2. ere to search o G n