Sue's Book Review billed customers

$250. The journal entry to record this transaction is:

A.

Cash, debit

$250; Riley, Accounts Receivable, credit

$250

B.

Editing Fees, debit

$250; Riley, Capital, credit

$250

C.

Accounts Receivable, debit

$250; Editing Fees, credit

$250

D.

Accounts Payable, debit

$250; Editing Fees, credit

2)

3)

The Accounts Payable account has total credit postings of

$2,200 and debit postings of

$1,000. The balance of the account is:

A.

$1,200 credit.

B.

$3,200 credit.

C.

$1,200 debit.

D.

$3,200 debit.

Which of the following accounts would appear on the Balance Sheet?

A.

Depreciation Expense

B.

Accumulated Depreciation

C.

Delivery Truck

D.

Both B and C.

4)

The balance in the Rent Expense account on the worksheet was

$150. The journal entry to close the Rent Expense account is:

A.

Rent Expense	150
Capital	150

B.

Rent Expense	150
Income Summary	150

C.

Rent Expense	150
Prepaid Rent Expense	150

D.

Income Summary

5)

On a worksheet, the balance sheet debit column total is

$800 and the credit column total is

$2,200. Which of the following statements is correct?

A.

The company's expenses were greater than revenues.

B.

The company had a loss of

$1,400.

C.

The company had a net income of

$1,400.

D.

There is a

$1,000 error.