The Chart of Account for the Corning Company Includes Some

question 126

Multiple Choice

The chart of account for the Corning Company includes some of the following accounts: $\begin{array}{|l|l|}\hline \text { Account Name } & \text { Account Number } \\\hline \text { Cash } & 11 \\\hline \text { Accounts Receivable } & 13 \\\hline \text { Prepaid Insurance } & 15 \\\hline \text { Accounts Payable } & 21 \\\hline \text { Unamed Revenue } & 24 \\\hline \text { Corning, Capital } & 31 \\\hline \text { Corning, Drawing } & 32 \\\hline \text { Fees Earned } & 41 \\\hline \text { Salaries Expense } & 54 \\\hline \text { Rent Expense } & 56 \\\hline & \\\end{array}$ On the journal page 3, the following transaction was found:
$\begin{array} { | l | l | l | } \hline \text { Prepaid Insuranse } & 1,530 & \\\hline \text { Cash } & & 1,530 \\\hline & &\end{array}$ What is the post reference that will be found on the journal entry?

• A) 15, 11
• B) 15
• C) 11
• D) 3

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Definitions:

Economic Independence

The state of having sufficient personal wealth to live, without having to depend on income from some form of employment.

U.S. Army Corps

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Topographical Engineers

Military engineers specializing in the creation of detailed maps, especially those depicting the features and contours of the landscape, often used for strategic purposes.

Mexican Independence

The process which led to Mexico's freedom from Spanish colonial rule, officially starting in 1810 and culminating in 1821.