1D. A Name: All 3,000 1,300 3,000 1,400 8,800 accounts have 30. The accounts in the ledger of Monroe Entertainment Co. are listed in alphabetical order. normal balances 1,500 1,800 2,000 2,600 1,200 Fees Earned Insurance Expense Land Wages Expense Owner's Equity Accounts Payable Accounts Receivable Investment Cash Withdrawals The total of all the assets is: a. $9,400 b. $9,000 c. $9,100 d. $9,800 e. $10,300 31. The revenue recognition concept a. is in not in conflict with the cash method of accounting b. determines when revenue is credited to a revenue account c. states that revenue is not recorded until the cash is received d. controls all revenue reporting for the cash basis of accounting The matching concept a. addresses the relationship between the journal and the balance sheet b. determines whether the normal balance of an account is a debit or credit c. requires that the dollar amount of debits equal the dollar amount of credits on a trial 32. balance d. determines that expenses related to revenue be reported at the same time the revenue is reported 33. Deferred expenses have a. b. c. d. not yet been recorded as expenses or paid been recorded as expenses and paid been incurred and paid not yet been recorded as expenses 34. Deferred revenue is revenue that is a. earned and the cash has been received b. earned but the cash has not been received c. not earned and the cash has not been received d. not earned but the cash has been received Which one of the following accounts below would likely be included in a deferral adjusting entry? a. Interest Revenue b. Unearned Revenue c. Salaries Payable d. Accounts Receivable 35