Assets are listed on the balance sheet in the order of theirA. Acquisition dateB. AdjustmentsC. LiquidityD. Balance


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Which of the complying with accounts would certainly be had in the building, plant, and equipment category of the classified balance sheet?A. Land also organized for investment B. Accumulated DepreciationC. Office SuppliesD. Mortgage Payable
Which case indicates a net loss within the Income Statement section of the worksheet?A. Total credits exceed complete debitsB. Total debits exceed full creditsC. Total debits equal full creditsD. Namong the above
Which of the following accounts is not closed?A. Depreciation ExpenseB. DividendsC. Service RevenueD. Accumulated Depreciation
What do closing entries accomplish?A. Zero out the profits, prices, and also dividendsB. Transfer revenues, prices, and also dividends to the Retained Salaries accountC. Bring the Retained Incomes account to its correct finishing balanceD. All of the above
Which of the adhering to is not a cshedding entry?A. Retained Earnings xxx Dividends xxxB. Service Revenue xxx Income Rundown xxxC. Earnings Payable xxx Income Overview xxxD. Income Summary xxx Rent xxx
Which of the following accounts may show up on a post-cshedding trial balance?A. Cash, Incomes Payable, and Retained EarningsB. Cash, Wages Payable, and also Service RevenueC. Cash, Service Revenue, and also Earnings ExpenseD. Cash, Salaries Payable, and also Incomes Expense
Which of the following steps of the audit cycle is not completed at the finish of the period?A. Journalize transactions as they occurB. Journalize and post the closing entriesC. Prepare the post-cshedding trial balanceD. Prepare the financial statements
clean water softener units has cash of $600, accounts receivable of $900, and office gives of $400. clean owes $500 on accounts payable and also salaries payable of $200. cleans present proportion isA. 2.71B. 2.50C. 0.63D. 0.37
Which of the adhering to statements concerning reversing entries is true?A. Reversing entries are required by Usually Accepted Accounting PrinciplesB. Reversing entries are many frequently used through accrual-form adjustmentsC. Reversing entries are dated December 31, the finish of the fiscal yearD. Reversing entries are tape-recorded prior to adjusting entries
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