6. On January 1, Eastern College received $1,320,000 from its students for the spring semester that it recorded in Unearned Tuition and Fees. The term spans four months beginning on January 2 and the college spreads the revenue evenly over the months of the term.Assuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on February 28?

Multiple Choice

$330,000.

$660,000.

$920,000.

$990,000.

$1,320,000.

7. An adjusting entry was made on year-end December 31 to accrue salary expense of $2,100. Assuming the company does not prepare reversing entries, which of the following entries would be prepared to record the $4,800 payment of salaries in January of the following year?

Multiple Choice

Salaries Expense	4,800
Cash		4,800

Salaries Payable	4,800
Cash		4,800

Salaries Payable	2,100
Cash		2,100

Salaries Expense	2,100
Salaries Payable		2,100

Salaries Payable	2,100
Salaries Expense	2,700
Cash		4,800

8. A company purchased a new delivery van at a cost of $47,000 on July 1. The delivery van is estimated to have a useful life of 5 years and a salvage value of $3,500. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?

Multiple Choice

$4,200.

$4,350.

$5,050.

$8,700.

$4,700.

9. A company recorded 2 days of accrued salaries of $2,000 for its employees on January 31. On February 9, it paid its employees $8,200 for these accrued salaries and for other salaries earned through February 9. Assuming the company does not prepare reversing entries, the January 31 and February 9 journal entries are:

Multiple Choice

1/31	Salaries Expense	2,000
	Salaries Payable		2,000
2/9	Salaries Payable	8,200
	Salaries Expense	2,000
	Cash		8,200

1/31	Salaries Payable	2,000
	Salaries Expense		2,000
2/9	Salaries Expense	6,200
	Salaries Payable	2,000
	Cash		8,200

1/31	Salaries Expense	2,000
	Cash		2,000
2/9	Salaries Expense	8,200
	Cash		8,200

1/31	Salaries Expense	2,000
	Salaries Payable		2,000
2/9	Salaries Expense	8,200
	Cash		8,200

1/31	Salaries Expense	2,000
	Salaries Payable		2,000
2/9	Salaries Expense	6,200
	Salaries Payable	2,000
	Cash		8,200

10. On April 1, Griffith Publishing Company received $2,898 from Santa Fe, Inc. for 36-month subscriptions to several different magazines. The subscriptions started immediately. What is the amount of revenue that should be recorded by Griffith Publishing Company for the first year of the subscription assuming the company uses a calendar-year reporting period?

Multiple Choice

$0.

$966.

$725.

$242.

$80.

11. A company purchased new furniture at a cost of $30,000 on September 30. The furniture is estimated to have a useful life of 4 years and a salvage value of $3,600. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the furniture for the first year ended December 31?

Multiple Choice

$550.

$1,650.

$1,875.

$2,100.

12. Sanborn Company rents space to a tenant for $3,200 per month. The tenant currently owes rent for November and December. The tenant has agreed to pay the November, December, and January rents in full on January 15 and has agreed not to fall behind again. Assuming adjustments are only made at year-end, the adjusting entry needed on December 31 is:

Multiple Choice

Debit Rent Receivable, $9,600; credit Rent Earned, $9,600.

Debit Unearned Rent, $6,400; credit Rent Earned, $6,400.

Debit Unearned Rent, $3,200; credit Rent Earned, $3,200.

Debit Rent Receivable, $6,400; credit Rent Earned, $6,400.

Debit Rent Receivable, $3,200; credit Rent Earned, $3,200.