Which of the following does not require an adjusting entry at year-end?
A: Accrued interest on notes payable.
B: Supplies used during the period.
C: Cash invested by owner.
D: Accrued wages.
E: Expired portion of prepaid insurance.
A: Accrued interest on notes payable.
B: Supplies used during the period.
C: Cash invested by owner.
D: Accrued wages.
E: Expired portion of prepaid insurance.
举一反三
- Which of the following does not require an adjusting entry at year-end? () A: Accrued interest on notes payable. B: Supplies used during the period. C: Cash invested by owner. D: Accrued wages.
- Which of the following does not require an adjusting entry at year-end?
- Of the following adjusting entries, which one results in an increase in liabilities and the recognition of an expense at the end of an accounting period? A: The entry to accrue salaries owed to employees at the end of the period. B: The entry to record revenue earned but not yet collected or recorded. C: The entry to record earned portion of rent previously received in advance from a tenant. D: The entry to write off a portion of unexpired insurance.
- Amortizing a bond discount: A: Allocates a portion of the total discount to interest expense each interest period. B: Increases the market value of the Bonds Payable. C: Decreases the Bonds Payable account. D: Decreases interest expense each period. E: Increases cash flows from the bond.
- MAKE ENTRY FOR THE FOLLOWING TRANSACTION.Assume that a business paid a $1200 premium on April 1 for one year's insurance in advance. This represents an increase in one asset (prepaid expense) and a decrease in another asset (cash). Thus, the entry would be : A: Dr. Prepaid Expenses—Prepaid Insurance $1200 Cr. Cash $1200 B: Dr. Prepaid Expenses—Prepaid Insurance $600 Cr. Cash $600 C: Dr. Prepaid Expenses—Prepaid Insurance $1000 Cr. Cash $1000 D: None of the above.