The Chart of Accounts for the Corning Company Includes the Following

question 197

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 3 of the journal contains the following transaction: $$\begin{array} { | c | l | l | } \hline \text { Cash } & 640 & \\\hline \text { Fees Earned } & & 640 \\\hline\end{array}$$ What posting references will be found in the journal entry?

• A) 41, 3
• B) 3, 11
• C) 11, 41
• D) 11, 3

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Definitions:

Parasitism

A relationship between two organisms where one benefits at the expense of the other, often without killing it outright.

Commensalism

A type of symbiotic relationship where one organism benefits while the other is neither helped nor harmed.

Commensalism

Commensalism is a type of symbiotic relationship where one organism benefits without harming or benefiting the other.

Batesian Mimicry

A form of mimicry where a harmless species evolves to imitate the warning signals of a harmful species to deter predators.