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11. WHICH UI e IIUWI CLIES TECurus we receipt UI cash for two months' rent? The cash was received in advance of providing the service.

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11. WHICH UI e IIUWI CLIES TECurus we receipt UI cash for two months' rent? The cash was received in advance of providing the service. a. Prepaid Rent, debit, Rent Revenue, credit. b.Cash, debit: Uncamed Revenue, credit e. Cash, debit; Prepaid Rent, credit. d. Cash, debit;Rent Expense credit. 18. A special form on which is recorded pertinent data about a liability and the particulars of its payment is called a invoise b. voucher c. debit memorandum d. remittance advice 19. The charter of a corporation provides for the issuance of 100,000 shares of common stock. If 60,000 shares were originally issued and 5,000 were subsequently reacquired, what is the amount of cash dividends to be paid if a si per share dividend is declared? a. $60,000 b. $5,000 c. $100,000 d, $55,000 20. The amount of the promissory note plus the interest earned on the due date is called the: a realizable value b. maturity value c. face value d. net realizable value 21. On November 1 of the current year, the assets and liabilities of Jim Chu, M.D., are as follows: Cash, $10,000 Accounts Receivable, $8.200: Supplies, $1.050: Land, $25,000; Accounts Payable, $6,530. What is the amount of the stockholders' equity (Jim Chu's capital) as of November 1 of the current year? a. $37,720 b. $44.430 c. $21.500 d. $48,780 22. A 90-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. S10,000 b. $10,300 c. $450 d. 9.550 22. A 90-day, 12% note for $10,000, dated May 1, is received from a customer on account. The maturity value of the note is: a. $10,000 b. $10,300 c. $450 d. $9.550 23. A fixed asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of gain or loss on disposal of the fixed asset? a $2,500 loss b. $1,000 loss c. $2,500 gain d. $1,000 gain 24. As time passes, fixed assets other than land lose their capacity to provide useful services. To account for this decrease in usefulness, the cost of fixed assets is systematically allocated to expense through a process called: a. equipment allocation b. depreciation c. amortization d. depletion 25. The balance in the prepaid rent account before adjustment at the end of the year is $15,000, which represents three months' rent paid on December 1. The adjusting entry required on December 31 is: a. debit Rent Expense, S5,000 credit Prepaid Rent, S5,000 b. debit Prepaid Rent, $10,000 credit Rent Expense. 55.000 c. debit Rent Expense, S10,000: credit Prepaid Rent, S5,000 d. debit Prepaid Rent, $5,000 credit Rent Expense, S5,000 26. On November 1, Blazer Company receives a 6% interest bearing note from Ram Company to settle a $20,000 account receivable. The note is due in six months. At December 31, Blazer should record interest revenue of: a. So b. $100 c. $200 d. 5600

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