A business has the following transactions: * The business receives $15,000 cash and issues common stock to stockholders. * The business purchases $600 of office supplies on account * The business purchases $3,000 of furniture on account * The business renders services to various clients totaling $15,000 on account * The business pays $1,500 for salaries expense and $4,500 for rent expense. * The business pays $800 to a supplier for the office supplies purchased earlier. * The business collects $4,000 from one of its clients for services rendered earlier in the month. At the end of the month, all journal entries are posted to the ledger. Accounts Receivable will appear as which of the following? . Bal. B. Accounts Receivable 4,000 15,000 11,000 Accounts Receivable 15,000 4,000 Bal 11,000 Accounts Receivable 15,000 Bal 15,000 Accounts Receivable 15,000 4,000 11,000 C. OD Bal The trial balance of Johnson Travel at December 31, 2005 follows, along with the data for the month and adjustments Johnson Travel Trial Balance December 31, 2005 Cash 1300 A/R 6600 Supplies 2300 Prepaid rent 1600 Furniture 36000 Accumulated depreciation (furniture) 4800 A/P 4500 Uneamed service revenue 600 Capital 26000 Withdrawals 29000 Service revenue 106000 Depreciation expense 2300 Salary expense 39900 Rent expense 20000 Supplies expense 2900 Total 541900 141900 a) Depreciation on furniture for the month. The estimated useful life of the furniture is 5 years. b) On December 1, the business moved into a new office and paid the first 2 months' rent as advance. Prepaid rent expired during the month c) Service Revenue of $ 200 were earned during the month from the services performed for clients who had paid in advance. The salary expense is 8235 per day - and the business pays employees every Friday(weekly payroll is from Monday to Friday). This year December 31 falls on a Monday e) Supplies on hand at Dec 31 81700 1) What adjusting entry will Jonson make on this transaction? a) Depreciation on furniture for the month. The estimated useful life of the furniture is 5 years. O A. Depreciation Expense 18000 Furniture 18000 OB none of them OC Depreciation Expense 18000 Accumulated Depreciation 18000 OD Depreciation Expense 4800 Accumulated Depreciation 4800 OE Depreciation Expense 600 Accumulated Depreciation 600 2) What adjusting entry will Jonson make on this transaction ? b) On December 1, the business moved into a new office and paid the first 2 months' rent as advance. Prepaid rent expired during the month A Rent Expense 10000 Prepaid Rent 10000 8. none of them OC Rent Expense 1600 Prepaid Rent 1600 OD. Rent Expense 800 Prepaid Rent 800 3) What adjusting entry will Jonson make on this transaction ? c) Service Revenue of $ 200 were eamed during the month from the services performed for clients who had paid in advance O A Unearned Service Revenue 600 Service Revenue 600 Click to select your answer(s) 3) What adjusting entry will Jonson make on this transaction ? c) Service Revenue of $ 200 were eamed during the month from the services performed for clients who had paid in advance O A Unearned Service Revenue 600 Service Revenue 600 OB. none of them OC. Service Revenue 400 Uneared Service Revenue 400 OD Unearned Service Revenue 200 Service Revenue 200 4) What adjusting entry will Jonson make on this transaction ? a) The salary expense is $235 per day - and the business pays employees every Friday(weekly payrole is from Monday to Friday). This year December 31 falls on a Monday O A none of them OB. Salary Expense 47 Salary Payable 47 OC. Salary Expense 940 Salary Payable 940 OD. Salary Expense 235 Salary Payable 235 5 What adjusting entry will Jonson make on this transaction ? e) Supplies on hand at Dec 31 8 1700 OA. Supplies expense 600 Supplies 600 OB. none of them OC Supplies expense 1700 Supplies payable 1700 OD. Supplies expense 1700 Supplies 1700 6) The total liabilities is (Write your result in to the answer box below) Answers 7) The total expenses is (Write your result in to the answer box below) Answers 8) The A/P in the Adjusted Trial Balance is (Write your result in to the answer box below) Answer- 9) The total debitor credit amount in the Adjusted Trial Balance is (Write your result in to the answer box below) Answers 10) Which of the following is the closing entry for withdrawals on Dec 31? OA Withdrawals 29000 Capital 29000 OB. Capital 29000 Withdrawals 29000 OC. Income summary 29000 Withdrawals 29000 OD. Withdrawals 29000 Income summary 29000 11) Which of the following is the closing entry for revenue on Dec 317 6) The total liabilities is (Write your result in to the answer box below) Answers 7) The total expenses is (Write your result in to the antwer box below) Answers 3) The A/P in the Adjusted Trial Balance is (Write your result in to the answer box below) Answer- 9) The total debitor credit amount in the Adjusted Trial Balance is (Write your result in to the answer box below) Answers 10) Which of the following is the closing entry for withdrawals on Dec 31? OA. Withdrawals 29000 Capital 29000 OB. Capital 29000 Withdrawals 29000 OC. Income summary 29000 Withdrawals 29000 D. Withdrawals 29000 Income summary 29000 11) Which of the following is the closing entry for revenue on Dec 31? OA Revenue 106200 Income summary 106200 OB. Income summary 106000 Revenue 106000 OC. Income summary 106200 Revenue 106200 OD. Revenue 106200 Capital 106200 12) The net capital balance in the post closing trial balance is (Write your result in to the answer box below) Answer- 013) How much is the Debit/Credit amount in the Post-closing trial balance? OA. 45300 OB. none of the them OC. 46320 OD. 46400 Q14) How much is the revenue balance in the post closing trial balance? OA 106000 OB. none of them OC 106200 ODO Q15) The Current Assets in the classified balance sheet is (Write your result in to the answer box below) Answers 016) The total assets is (Write your result in to the answer box below) Answer: Click to select your answer(s)