Question

The recording of adjusting entries is supported by the

Answer 1

http://en.wikipedia.org/wiki/Adjusting_entries

Answer 2

Sorry, I don't know. :/

Answer 3

is it
matching principle

Answer 4

any choices

Answer 5

got it matching principle

Answer 6

are you sure

Answer 7

yes i just looked it up

Answer 8

thanks

and i have one more question

Answer 9

kk

Answer 10

Which of the following is true regarding adjusting entries?

Answer 11

any choices

Answer 12

. Adjusting entries are not posted to the ledger.
b. Adjusting entries are dated as of the first day of the new accounting period.
c. Adjusting entries are optional with accrual-basis accounting.
d. None of these statements are true.

Answer 13

c

Answer 14

thanks

Answer 15

np

Answer 16

and sorry i actually have two more question

Answer 17

k

Answer 18

Clever Computers has a 5-day work week and pays the office staff $3,050 each week. If the month ends on a Thursday, the adjusting entry will credit Wages Payable for

Answer 19

. $610
b. $3,050
c. $1,220
d. $2,440

Answer 20

d

Answer 21

how do you know

Answer 22

have you had accounting classe befor

Answer 23

im a senior and yes

Answer 24

oh that good

Answer 25

so ho do you find that out

Answer 26

srry low time gtg to work

Answer 27

onw more question

Answer 28

please

Answer 29

k

Answer 30

GreenSource Company began the period with $330 in supplies. During the month, an additional $1,500 of supplies were purchased. A physical inventory at the end of the period revealed that there were $585 of supplies on hand. The adjusting entry should include a

Answer 31

credit to Supplies Expense for $585.
b. debit to Supplies for $585.
c. credit to Supplies Expense for $1,245.
d. credit to Supplies for $1,245.

Answer 32

b see ya

Answer 33

one more please

Answer 34

sorry last one i promise

Answer 35

lol u like me hu okay lets do it

Answer 36

If an adjustment for $7,500 in accrued revenues is omitted, how will this affect the financial statements?

Answer 37

Net income will be understated by $7,500.
b. Net income will be overstated by $7,500.
c. There will be no effect on the financial statements.
d. Accounts Receivable will be overstated by $7,500

Answer 38

d

Answer 39

you are very good at this

Answer 40

one more
please

Answer 41

The unearned subscriptions account reflected a balance of $32,500 prior to any adjustments. It is determined that $9,800 in subscriptions remain unearned at the end of the period. The adjusting journal entry should include a

Answer 42

thnks sweeti and i guess

Answer 43

a . credit to Subscriptions Earned for $9,800.
b. debit to Unearned Subscriptions for $9,800.
c. credit to Subscriptions Revenue for $22,700.
d. credit to Unearned Subscriptions for $22,700.

Answer 44

c

Answer 45

one more

Answer 46

sorry yourr just too good

Answer 47

An adjustment to record unrecorded fees earned was posted during the current period. Which of the following would cause the adjusted trial balance totals to be unequal?

Answer 48

q. t he adjustment was posted as a debit to Fees Earned and a credit to Accounts Receivable.
b. The adjustment was posted as a debit to Cash and a credit to Fees Earned.
c. The adjustment was completely omitted.
d. The adjustment was posted as a debit to Accounts Receivable for $870 and a credit to Fees Earned for $780.

Answer 49

d

Answer 50

thks

Answer 51

csn you please fan me

Answer 52

np

Answer 53

Accrued revenues are revenues that

Answer 54

have not been earned but for which cash has been received.
b. have been earned but have not been received or recorded in the books.
c. have not been earned or received.
d. have been earned and received.

Answer 55

b

Answer 56

thamks did you get my fan

Answer 57

i fanned you di you receive it

Answer 58

yes u like me hu

Answer 59

thanks you were great

Answer 60

are you in high school

Answer 61

yes

Answer 62

ohh

Answer 63

meassege me

Answer 64

thmaks you for the help but wait i have some more

Answer 65

Revenue is reported on the income statement in the period earned. The accounting concept supporting this reporting is

Answer 66

the income statement principle.
b. the adjusting principle.
c. the revenue recognition principle.
d. the cash basis principle

Answer 67

b

Answer 68

Because collecting the adjustment data requires time, the adjusting entries are often

Answer 69

entered later but dated as of the last day of the period.
b. entered and dated later than the last day of the period.
c. omitted.
d. estimated and recorded earlier than the last day of the period.

Answer 70

c

Answer 71

gtg

Answer 72

after which of the following errors would the adjusted trial balance totals not agree?

Answer 73

A debit to Accounts Receivable was inadvertently posted as a credit to Accounts Payable.
b. The adjustment for depreciation was omitted.
c. A debit to Accounts Receivable was inadvertently posted as a debit to Accounts Payable.
d. Supplies were miscounted and adjusted for the wrong amount.

Answer 74

last one d

Answer 75

indicate which of the following accounts will never require an adjusting entry?

Answer 76

Which statement is true regarding the cash basis of accounting?

Answer 77

Expenses are reported in the same period as the revenues to which they relate.
b. Revenues are reported in the period in which they are earned.
c. The cash basis of accounting is used by most large businesses to provide accurate financial statements for users.
d. Revenues are reported in the period in which cash is received, and expenses are reported when cash is paid out.

Answer 78

hello you still there

Answer 79

c