accounting

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questions.docx

1-The adjusted trial balance columns:

2-The Capital balance amount shown in the balance sheet column of the worksheet represents:

3-Sarah’s Spices’ accrued wages are $1,800.Which of the following is the required adjusting entry?

4-An account in which the balance is not carried over from one accounting period to the next is called a:

5- When the balance of the income Summary account is a credit, the entry to close this account is:

6-Closing entries will:

7-Oros showed a net loss of #3,200. The entry to close the income Summary account would include a:

8- How do you close the expense accounts?

9- Robert purchased a truck for$3,000 with residual value of $10,000 and a life expectancy of 5 years; using straight-line depreciation , the amount of the depreciation adjustment for the first year would be:

10- Total wages per week are$4,800.You need to accrue $4,000 of wages.The adjusting entry would include which of the following ?

11-On November 1, Duane paid $24,000 in advance for a year’s rent. The November 30, adjusting entry for rent , expense should include a:

12- The Capital balance amount shown in the balance sheet column of the worksheet represents: