& a debit to Accounts Payable and a credit to Cash for $1,000 5. The T-accounts that company transactions are recorded in, taken as a whole, are called the company's: a. Journal b Ledger c. Financial Statements 6. Which of the following accounts would appear on the Balance Sheet? (6) Cash b. Dividends c. Rent Expense d. Service Revenue 7. Which of the following is accurate regarding retained earnings for a company? La prior period retained earnings + current period net income-current period dividends - end of period retained earnings b. current period revenues-current period expenses - end of period retained earnings c. current period net income + current period additions to contributed capital - end of period retained earnings 8. Jacey Tax Services completed a tax return for a client for $500 and sends the client a bill for the services. What journal entry should be made? a. no entry should be made until the client pays for the services b. Debit Revenue and credit Cash for $500 Debit Revenue and credit Accounts Receivable for $500 a. Debit Accounts Receivable and credit Revenue for $500 9. Jones company paid $12,000 for a six months of rent. What account should be debited? a. Prepaid Rent b. Cash C. Accounts Payable d . Rent Expense 10. Jackson Company purchased $5,000 of office furniture on credit. What journal entry should be made? a. no entry should be made until the furniture is paid for b. Debit Furniture and credit Cash for $5,000 c. Debit Accounts Payable and credit Furniture for $5,000 d. Debit Furniture and credit Accounts Payable for $5,000 11. Bonus question for one point extra credit: Our company agrees to hire a landscaping company to provide $500 in lawn services. No payment is made at the time of the agreement and no work has yet been performed by the landscaping company. The related journal entry would be: a. There would be no journal entry made at this time b. a debit to Lawn care Expense and a credit to Accounts Payable for $500 c. a debit to Lawn care Expense and a credit to Cash for $500 d. a debit to Accounts Payable and a credit to Cash for $500