1) To record the depreciation of a car owned by a company, you should:

a) Credit the car account

b) Credit the car account, debit the depreciation expense

c) Credit the car account and debit the Accumulated depreciation expense

d) None of the above

2) Company A signed a contract with a customer to provide services at a rate of 20 dollars per hour, after some time, 30 hours of service were performed but not paid yet. What would be the right process to record this adjustment for Company A? *

a) Debit Unearned Revenues, credit accounts receivable

b) Debit wages expense, credit wages payable

c) Debit Accounts receivable, and credit revenues

d) None of them

3) Company A signed a contract with a customer to provide services at a rate of 20 dollars per hour, after some time, 30 hours of service were performed but not paid yet. What would be the right process to record this adjustment for the customer? *

a) Debit Unearned Revenues, credit accounts receivable

b) Debit expenses, credit accounts payable

c) Debit Accounts receivable, and credit revenues

d) None of them

4) When cash is used to pay for supplies, the right recording process will be: *

a) Debit Cash, Credit Supplies

b) Debit Supplies, Credit Withdrawals

c) Debit Supplies, Credit Cash

5) When a business sells services to a customer and he agrees to pay in the future, the right recording process will be: *

a) Debit Accounts payable and Credit Cash

b) Debit Cash, Credit Revenues, and Debit Accounts receivable

c) Debit Accounts receivable and credit cash

d) Debit Accounts Receivable, Credit Revenue