27. An Unearned Rent Revenue account with a normal balance would be reported in which column...
27. An Unearned Rent Revenue account with a normal balance would be reported in which column of a worksheet?
Multiple Choice
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Credit column of the Balance Sheet section.
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Debit column of the Balance Sheet section.
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Credit column of the Income Statement section.
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Debit column of the Income Statement section.
|
26. If an account has a debit balance of $890 in the Trial Balance section of a worksheet and there is a debit entry of $580 in the Adjustments section, the account balance in the Adjusted Trial Balance section of the worksheet is a |
Multiple Choice
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$310 debit.
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$310 credit.
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$1,470 debit.
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$1,470 credit.
|
25. Cramer Company pays weekly wages of $16,500 every Friday for a five day week ending on that day. If the last day of the year is on Wednesday, the adjusting entry to record the accrued wages is: |
Multiple Choice
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debit Wages Expense $9,900; credit Drawing $9,900
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debit Wages Expense $9,900; credit Cash $9,900
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debit Wages Expense $6,600; credit Cash $6,600
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debit Wages Expense $9,900; credit Wages Payable $9,900
Homework Answers
| 27 |
| Unearned Rent Revenue account would be reported in Credit column of the Balance Sheet section. |
| Option A is correct |
| 26 |
| Account balance in the Adjusted Trial Balance section = 890+580= $1,470 debit. |
| Option C is correct |
| 25 |
| Wages expense for 3 days = 16500*3/5= $9900 |
| Debit Wages Expense $9,900; credit Wages Payable $9,900 |
| Option D is correct |
Add Answer to:
27. An Unearned Rent Revenue account with a normal balance would
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If an account has a credit balance of $790 in the Trial Balance section of a...
If an account has a credit balance of $790 in the Trial Balance section of a worksheet and there is a credit of $380 in the Adjustments section, the account balance in the Adjusted Trial Balance section of the worksheet is Multiple Choice $1,170 debit. $1,170 credit. $410 debit. $410 credit.
6. On a worksheet, the unearned consulting revenue account has a $3,000 normal balance When preparing...
6. On a worksheet, the unearned consulting revenue account has a $3,000 normal balance When preparing the income statement columns on the worksheet, the unearned consulting revenue amount would be put into which column? a. Debit Income Statement b. Credit Income Statement c. Debit Balance Sheet d. Credit Balance Sheet 7. As you look at the bottom totals of the following worksheet, you see that it has not been completed. Does this company have a net income or a net...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies...
The adjusted trial balance for Pl Detectives reported the following account balances: Accounts Receivable $590; Supplies $9,900; Prepaid Insurance $8,100; Equipment $32,500; Accumulated Depreciation $4,900; Accounts Payable $290; Deferred Revenue $5,900; Notes Payable $3,900; Common Stock $26,500; Retained Earnings $6,600; Dividends $3,900; Service Revenue $38,300; Salaries and Wages Expense $24,500; and Depreciation Expense $1,000. Prepare an adjusted trial balance as of December 31, and solve for its missing Cash balance. PIDETECTIVES Adjusted Trial Balance As of December 31 Debit Credit...
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On May 31, the Cash account of Tesla had a normal balance of $5,000. During May,...
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? Multiple Choice O A SO balance. O A $4,300 debit balance, O A $4,300 credit balance. A $5,700 debit balance. A $5,700 credit balance. 16 24 Next > During the month of March, Harley's Computer...
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The trial balance columns of the worksheet for Carla Vista Roofing at March 31, 2020, are as follows. Carla Vista Roofing Worksheet For the Month Ended March 31, 2020 Trial Balance Account Titles Dr. Cash 4,700 Accounts Receivable 3,500 Supplies 2,380 Equipment 11,352 Accumulated Depreciation-Equipment 1,290 Accounts Payable 2,320 Unearned Service Revenue 690 Owner's Capital 13,922 Owner's Drawings 1,150 Service Revenue 6,300 Salaries and Wages Expense 1,110 Miscellaneous Expense 330 24,522 24,522 Other data: 1....
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DO IT! 4 Balance Sheet Classifications Fill in your answers. Name of Account Normal Balance Debit Credit ACCOUNT CLASSIFICATION -Asset - Liability -Equity Example: Asset If Asset or Liability, state if --Current -Non-Current Debit Non-Current 1. Buildings 2. Accounts Payable 3. Castro, Drawings 4. Equipment 5. Allowance for Doubtful Accounts 6. Notes Payable 7. Cash in Bank 8. Furniture and Fixtures 9. Taxes Payable 10. Notes Receivable 11. Cash on hand 12. Land 13. Accounts Receivable 14. Accumulated Depreciation 15....
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? Multiple Choice O A SO balance. O A $4,300 debit balance, O A $4,300 credit balance. A $5,700 debit balance. A $5,700 credit balance. 16 24 Next > During the month of March, Harley's Computer...
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