1. Which of the following examples of service does a bicycle rental shop offer?

A. entertainment service

B. infrastructure service

C. logistic service

D. transportation service

2. Sir Danny's business is a computer repair shop. He repairs the computer of Dina. Which of the following account titles is applied to Sir Danny's business?

A. cost of sales

B. repair expense

C. sales

D. service income

3. MR Company paid insurance premiums for one year. Being the bookkeeper of MR Company, how do you record the transaction by applying the general journal?

A. Debit Cash and credit Prepaid Insurance

B. Debit Cash and credit Insurance Expense

C. Debit Insurance Expense and credit Cash

D. Debit Prepaid Insurance and credit Cash

4. Mr. Chan acquired transportation equipment on credit. What is the correct entry if you record the transaction of Mr. Chan?

A. Debit Cash and credit Equipment

B. Debit Cash and credit Accounts Payable

C. Debit Equipment and credit Accounts Payable

D. Debit Transportation Expense and credit Accounts Payable

5. Yna received a bill for the repairs of her store amounting Php50,000. She had a down payment of 55% of her bill. How do you record the transaction of Yna?

A. Debit Cash Php 50,000 and credit Accounts Payable Php50,000.

B. Debit Repair Expense Php50,000 and credit Cash Php50,000.

C. Debit Store Repairs Php 50,000 and credit Cash Php27,500.00 Accounts Payable Php22,500.00.

D. Debit Store Repairs Php50,000 and credit Cash Php27,500.00 Accounts Receivable Php22,500.00.

Directions: Analyze each of the following situations and answer numbers 6 - 8 for the general ledger and numbers 9 and 10 for the trial balance.

The following are the transactions of Mr. Yabut for the year 2018:

January 5 - Mr. Yabut invested equipment worth Php100,000.00 and cash Php30,000.00.

January 6 - Yabut billed the customers for the services performed, Php25,000.00.

January 8 - Yabut paid the current month's rent, Php500.00.

6. Based on the transaction above, how much is correct equipment balance in the general ledger?

A. 155,000.00

B. 130,000.00

C. 125,000.00

D. 100,000.00

7. If you are the bookkeeper of Mr. Yabut, what is the correct Cash balance in the general ledger?

A. 25,000.00

B. 25,500.00

C. 125,500.00

D. 154,500.00

8. The bookkeeper posts the January 8 transaction of Mr. Yabut to the general ledger. To enter the amount of rent expense in the general ledger, in what column should the bookkeeper be reported?

A. account number column

B. credit column

C. debit column

D. particular column

9. Mr. Yabut wanted to know if the balances in the general ledger are correct at the end of January 31, 2018. What do you think should Mr. Yabut will do to balance the debit and credit column?

A. Mr. Yabut verified the transaction in the trial balance.

B. Mr. Yabut verified the transaction in the general ledger.

C. Mr. Yabut verified the transaction in the balance report.

D. Mr. Yabut verified the transaction in the general journal.

10. Based on the transaction of Mr. Yabut from January 2018, what should be the correct total debit and credit column of his trial balance?

A. The total debit column is 155,000.00 and total credit column is 155,000.00.

B. The total debit column is 154,500.00 and total credit column is 154,500.00.

C. The total debit column is 154,500.00 and total credit column is 155,000.00.

D. The total debit column is 155,500.00 and total credit column is 155,500.00.