Which of the following accounts does not increase with a debit entry?

A$.$ Retained Earnings

B$.$ Buildings

C$.$ Prepaid Rent

D$.$ Electricity Expense

$31.3\mathrm{.}5$ Which of the following pairs increase with credit entries?

A$.$ supplies and retained earnings

B$.$ rent expense and unearned revenue

C$.$ prepaid rent and common stock

D$.$ unearned service revenue and accounts payable

$32.3\mathrm{.}5$ Which of the following pairs of accounts are impacted the same with debits and credits?

A$.$ Cash and Unearned Service Revenue

B$.$ Electricity Expense and Office Supplies

C$.$ Accounts Receivable and Accounts Payable

D$.$ Buildings and Common Stock

$33.3\mathrm{.}5$ Which of the following accounts will normally have a debit balance?

A$.$ Common Stock

B$.$ Fees Earned

C$.$ Supplies

D$.$ Accounts Payable

$34.3\mathrm{.}5$ What type of account is prepaid insurance?

A$.$ Stockholders$$ Equity

B$.$ Expense

C$.$ Liability

D$.$ Asset

$35.3\mathrm{.}5$ Unearned service revenue occurs when which of the following occurs?

A$.$ company receives cash from a customer before performing the service

B$.$ company pays cash before receiving a service from a supplier

C$.$ company pays cash after receiving a service from a supplier

D$.$ company receives cash from a customer after performing a service

$36.3\mathrm{.}5$ Which set of accounts has the same type of normal balance?

A$.$ Cash, accounts payable

B$.$ Prepaid rent, unearned service revenue

C$.$ Dividends, common stock

D$.$ Accounts payable, retained earnings

$37.3\mathrm{.}5$ Which of these transactions requires a debit entry to Cash?

A$.$ paid balance due to suppliers

B$.$ sold merchandise on account

C$.$ collected balance due from customers

D$.$ purchased supplies for cash

Chapter $3$ Analyzing and Recording Transactions $179$

$38.3\mathrm{.}5$ Which of these transactions requires a credit entry to Revenue?

A$.$ received cash from services performed this month

B$.$ collected balance due from customers

C$.$ received cash from bank loan

D$.$ refunded a customer for a defective product

$39.3\mathrm{.}5$ Which of these accounts commonly requires both debit and credit entries?

A$.$ Sales Revenue

B$.$ Utilities Expense

C$.$ Accounts Receivable

D$.$ Common Stock

$40.3\mathrm{.}5$ Which of the following accounting records is the main source of information used to prepare the

financial statements?

A$.$ journal entries

B$.$ T$-$accounts

C$.$ trial balance

D$.$ chart of accounts

$41.3\mathrm{.}5$ Which of the following financial statements should be prepared first?

A$.$ Balance Sheet

B$.$ Income Statement

C$.$ Retained Earnings Statement

D$.$ Statement of Cash Flows