questions 8-11

On August 1, 2016, Benjamin and Associates collected 518,000 in advance for legal services to be rendered for one year. Which of the following entries reflect the end-of-the-year adjustment to reflect revenue earned? 1 500 Revenue 7 .500 Accounts Receivable Revenge Uncurned Revenue Revenue need Revenue Revende Select one a. Choice A b. Choice B c. Choice C od Choice D % Oc Choice o d Choice D On October 1, 2016. Sengal Company recorded a journal debiting prepaid rent and crediting cash for $1,200 in payment for one year Al December 31, 2016, the financial statements should report: Question 9 Not yet answered Marked out of 3.33 Flag question A. Rent Expense of $1,200 on the balance sheet Rent Expense of 1200 on the income statement C. Rent Expense of $300 on the balance sheet D. Rent Expense of 5300 on the income Select one a Choice A b. Choice B Choice C Choice D Question 10 Not you During a company's first year the asset account Ofice Supplies was debied for 52 300 for the purchases of supplies. Al year-end, office supplies on hand with him De w e left 2:42:07 Dest 10 During a company's first year, the asset account Office Supplies, was debited for $2,300 for the purchases of supplies Al year end, ofice supplies on hand were counted and determined to be $825. The proper adjusting entry crediting supplies and debitling supplies expense will A. Increase expenses and decrease assets by S1475 B. decrease assets and increase expenses by 5825 C. Increase expenses and increase assets by $1,475. D. have no effect on net income or the accounting equation Flag Select one D a Choice A O bChoice e Choice C d. Choice D Oon 11 Marked out of The closing entry for the Dividends account would involve which of the following A A credit to Retained Earnings B. A credit to Dividends C. A credit to Common Stock D. A credit to Cash Select one Choice A b. Choice B Choice d Choice