WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1
(PJMV) | Questions with 100% Correct Answers | Verified | Latest Upda
Study online at https://quizlet.com/_g27uto
1. Report a $3500 sale on ac- Debit: Accounts Receivable $3500; Credit:
count Service Revenue $3500
2. Journalize depreciation for Debit: Depreciation Expense $5000; Cred-
the equipment that is $5,000 it: Accumulated-Depreciation Equipment
$5000
3. Journalize the adjusting en- Debit: Salaries and Wages Expense $1300;
try for an employer that owes Credit: Salaries and Wages Payable $1300
$1300 for payroll on Jan 10,
2021, for the payroll period
ending December 31, 2020.
4. Calculate and journalize the Debit: Insurance Expense $2400; Credit: Pre-
annual adjusting entry to paid Insurance $2400
be made after a six-month
insurance policy was pur-
chased on September 1,
2020, for $3,600. Period end-
ing Dec 31.2020
5. Sales Revenue Sales-Income Statement
6. Accounts Receivable Sales-Income Statement
7. Sales Discounts Sales-Income Statement
8. Sales Returns and Al- Sales-Income Statement (revenue section)
lowances
9. Advertising Expense Selling Expense-Income Statement
10. Salaries-Sales Selling Expense-Income Statement
11. Travel & Entertainment for Selling Expense-Income Statement
Sales Personnel
12. Insurance Expense Administrative Expense-Income Statement
13. Salaries-Officers Administrative Expense-Income Statement
, WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1
(PJMV) | Questions with 100% Correct Answers | Verified | Latest Upda
Study online at https://quizlet.com/_g27uto
14. Legal and Professional Ser- Administrative Expense-Income Statement
vices
15. Rent Revenue other revenues and gains-income statement
16. Gain on sale of land other revenues and gains- income statement
17. Interest on bonds and notes other expenses and losses-income state-
ment
18. Supplies Inventory current asset-balance sheet
19. Prepaid Insurance current asset-balance sheet
20. investments available for current asset-balance sheet
sale
21. Equity Investment long-term asset-balance sheet
22. equipment property, plant, and equipment-balance
sheet
23. cash current asset-balance sheet
24. Accumulated Depreciation - property, plant, and equipment-balance
Equipment sheet
25. Trademark intangible asset-balance sheet
26. Accounts Payable current liabilities-balance sheet
27. Salaries and Wages Payable current liabilities-balance sheet
28. Unearned Service Revenue current liabilities-balance sheet
29. bonds payable (due more long-term liabilities-balance sheet
than a year from now)
30. long-term liabilities-balance sheet
(PJMV) | Questions with 100% Correct Answers | Verified | Latest Upda
Study online at https://quizlet.com/_g27uto
1. Report a $3500 sale on ac- Debit: Accounts Receivable $3500; Credit:
count Service Revenue $3500
2. Journalize depreciation for Debit: Depreciation Expense $5000; Cred-
the equipment that is $5,000 it: Accumulated-Depreciation Equipment
$5000
3. Journalize the adjusting en- Debit: Salaries and Wages Expense $1300;
try for an employer that owes Credit: Salaries and Wages Payable $1300
$1300 for payroll on Jan 10,
2021, for the payroll period
ending December 31, 2020.
4. Calculate and journalize the Debit: Insurance Expense $2400; Credit: Pre-
annual adjusting entry to paid Insurance $2400
be made after a six-month
insurance policy was pur-
chased on September 1,
2020, for $3,600. Period end-
ing Dec 31.2020
5. Sales Revenue Sales-Income Statement
6. Accounts Receivable Sales-Income Statement
7. Sales Discounts Sales-Income Statement
8. Sales Returns and Al- Sales-Income Statement (revenue section)
lowances
9. Advertising Expense Selling Expense-Income Statement
10. Salaries-Sales Selling Expense-Income Statement
11. Travel & Entertainment for Selling Expense-Income Statement
Sales Personnel
12. Insurance Expense Administrative Expense-Income Statement
13. Salaries-Officers Administrative Expense-Income Statement
, WGU D103 Pre-Assessment: Intermediate Accounting I Units 5-7 (JMV1
(PJMV) | Questions with 100% Correct Answers | Verified | Latest Upda
Study online at https://quizlet.com/_g27uto
14. Legal and Professional Ser- Administrative Expense-Income Statement
vices
15. Rent Revenue other revenues and gains-income statement
16. Gain on sale of land other revenues and gains- income statement
17. Interest on bonds and notes other expenses and losses-income state-
ment
18. Supplies Inventory current asset-balance sheet
19. Prepaid Insurance current asset-balance sheet
20. investments available for current asset-balance sheet
sale
21. Equity Investment long-term asset-balance sheet
22. equipment property, plant, and equipment-balance
sheet
23. cash current asset-balance sheet
24. Accumulated Depreciation - property, plant, and equipment-balance
Equipment sheet
25. Trademark intangible asset-balance sheet
26. Accounts Payable current liabilities-balance sheet
27. Salaries and Wages Payable current liabilities-balance sheet
28. Unearned Service Revenue current liabilities-balance sheet
29. bonds payable (due more long-term liabilities-balance sheet
than a year from now)
30. long-term liabilities-balance sheet
