11 robert rogers cpa pc performed accounting services for a client in december a bil 4311601

11) Robert Rogers, CPA, PC performed accounting services for a client in December. A bill was mailed to the client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the balance sheet for December 31?

A) Prepaid expense

B) Accounts receivable

C) Unearned revenue

D) Accounts payable

12) Robert Rogers, CPA, PC owns a computer used for the corporation's business. The matching principle would require that which of the following accounts appear on the income statement for the year ended December 31?

A) Depreciation expense

B) Service revenue

C) Accumulated depreciation

D) Equipment expense

13) Robert Rogers, CPA, owns a computer used by the business. The matching principle would require that which of the following accounts appear on the balance sheet for the year ended December 31?

A) Depreciation expense

B) Service revenue

C) Accumulated depreciation

D) Equipment expense

14) Employees of Robert Rogers, CPA, worked during the last two weeks of December. They received their paychecks on January 2. The matching principle would require that which of the following accounts appear on the balance sheet for December 31?

A) Accounts payable

B) Salaries payable

C) Salary expense

D) Prepaid expense

15) Employees of Robert Rogers, CPA, worked during the last two weeks of December. They received their paychecks on January 2. The matching principle would require that which of the following accounts appear on the income statement for the year ended December 31?

A) Salary expense

B) Prepaid expense

C) Salaries payable

D) Unearned revenue

16) Which of the following entries would be made as the result of the revenue principle?

A)

Service revenue	1,000
Service revenue		1,000

B)

Accounts receivable	1,000
Service revenue		1,000

C)

Salary expense	1,000
Accounts payable		1,000

D)

Depreciation expense	1,000
Accumulated depreciation		1,000

17) Which of the following entries would be made because of the matching principle?

A)

Salary expense	1,000
Accounts receivable		1,000

B)

Cash	1,000
Salary expense		1,000

C)

Salary expense	1,000
Salary payable		1,000

D)

Cash	1,000
Unearned revenue		1,000

18) The purposes of the adjusting process are:

A) to adjust expenses and revenues to the proper accrual basis.

B) to adjust asset and liability balances to the proper accrual basis.

C) to adjust expenses and revenues as well as asset and liability balances to the proper accrual basis.

D) none of the above.

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