The Chart of Accounts for the Corning Company Includes the Following

question 2

Multiple Choice

The chart of accounts for the Corning Company includes the following: $$\begin{array} { | l | l | } \hline \text { Account Name } &{ \text { Account Number } } \\\hline \text { Cash } & 11 \\\hline \text { Accounts Receivable } & 13 \\\hline \text { Prepaid Insurance } & 15 \\\hline \text { Accounts Payable } & 21 \\\hline \text { Unearned Revenue } & 24 \\\hline \text { Common Stock } & 31 \\\hline \text { Dividends } & 32 \\\hline \text { Fees Earned } & 41 \\\hline \text { Salaries Expense } & 54 \\\hline \text { Rent Expense } & 56 \\\hline\end{array}$$ Page 3 of the journal contains the following entry: $$\begin{array} { | c | l | l | } \hline \text { Prepaid Insurance } & 1,530 & \\\hline \text { Cash } & & 1,530 \\\hline\end{array}$$
-The chart of accounts for the Miguel Company includes the following: $$\begin{array} { | l | l | } \hline \text { Account Name } & { \text { Account Number } } \\\hline \text { Cash } & 11 \\\hline \text { Accounts Receivable } & 13 \\\hline \text { Prepaid Insurance } & 15 \\\hline \text { Accounts Payable } & 21 \\\hline \text { Unearned Revenue } & 24 \\\hline \text { Common Stock } & 31 \\\hline \text { Dividends } & 32 \\\hline \text { Fees Earned } & 41 \\\hline \text { Salaries Expense } & 54 \\\hline \text { Rent Expense } & 56 \\\hline\end{array}$$ Page 5 of the journal contains the following transaction: $$\begin{array} { | c | l | l | } \hline \text { Salaries Expense } & 525 & \\\hline \text { Cash } & & 525 \\\hline\end{array}$$ What is the posting reference that will be found in the salaries expense account?

• A) 5
• B) 11
• C) 54
• D) 21

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Definitions:

Intermediates

Molecules or ions that appear in the middle stages of a chemical reaction but do not appear in the overall reaction equation.

Electrons

Subatomic particles with a negative electrical charge, found in orbitals surrounding an atom's nucleus, and participating in chemical bonding and conductivity.

Alternating Copolymer

A copolymer where two different monomers are linked in an alternating sequence, offering unique properties compared to random or block copolymers.

Addition Polymer

This type of polymer is formed by the addition reaction between monomers with double or triple bonds, leading to a long chain molecule without the elimination of small molecules such as water.