Which of the following accounts would not appear in a closing journal entry?a. Interest Revenueb. Accumulated Depreciationc. Retained Earningsd. Salary Expense


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Which account is least likely to appear in an adjusting journal entry?a. cashb. interest receivablec. Income tax Expensed. Salaries Payable
When a convent promotions company collects cash for ticket sales two months in advance of the show date, which of the following accounts is recorded?a. Accrued liabilityb. Accounts receivablec. Prepaid Expensed. Unearned Revenue
On december 31, an adjustment is made to reduce unearned revenue and repot (earned) revenue. How many accounts will be included in this adjusting journal entry?a. noneb. onec. twod. three
An Adjusting journal entry to recognize accrued salaries payable would cause which of the following?a. A decrease in assets and stockholder"s equity b. A decrease in assets and liabilitiesc. An increase in expenses, liabilities, and stockholders" equity d. An increase in expenses and liabilities and a decrease in stockholders" equity
An adjusted trial balancea. Shows the ending balances in a debit and credit format before posting the adjusting journal entriesb. Is prepared after long entries have been postedc. Is a tool used by financial analysts to review the performance of publicly traded companiesd. Shows the ending balances resulting from the adjusting journal entires in a debit and credit format
d. Shows the ending balances resulting from the adjusting journal entires in a debit and credit format
company A has owned a building for several years. Which of the following statements regarding depreciation is false from an accounting perspective?a. Depreciation Expense for the year will equal Accumulated depreciation b. Depreciation is an estimated expense to be recorded each period during the building"s life c. As depreciation is recorded, stockholders" equity is reducedd. AS depreciation is recorde, total assets are reduced
Which of the following trial balances is used as a source for preparing the income statement?a. Unadjusted trial balanceb. Pre-adjusted trial balance c. Adjusted trial balanced. Post-closing trial balance
Asume the balance in Prepaid Insurance is 2,500 but it should be 1,500. The adjusting journal entry should include which of the following?a. Debit to Prepaid Insurance for 1,000b. Credit to insurance Expense for 1,000c. Debit to insurance Expense for 1,000d. Debit to insurance Expense for 1,500
Assume a company receives a bill for 10,000 for advertising done during the current year. IF this bill is not yet recorded at the end of the yearn what will the adjusting journal entry include?a. Debit to advertising expense of 10,000b. Credit to advertising expense of 10,000c. Debit to accrued liabilities of 10,000d. Need more info
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