超星 - Chapter 3 (1)

单选题

On September 1, Seaside Apartments received $2,800 from a tenant for four months' rent. The receipt was credited to Unearned Rent Revenue. What adjusting entry needs to be made by Seaside on December 31?

A. Cash 700Rent Revenue 700
B. Unearned Rent Revenue 2,800Rent Revenue2,800
C. Unearned Rent Revenue 700Rent Revenue700
D. Rent Revenue 700Unearned Rent Revenue 700

查看答案

单选题

The following normal balances appear on the adjusted trial balance of Portland Company: Equipment ..........................................................$70,000Accumulated depreciation, equipment ................. 18,000Depreciation expense, equipment .........................6,000The book value of the equipment is

A. $64,000
B. $46,000
C. $52,000
D. $34,000

查看答案

单选题

Barlow, Inc., purchased supplies for $1,100 during 2016. At year-end, Barlow had $500 of supplies left. The adjusting entry should

A. debit Supplies $500
B. credit Supplies $500
C. debit Supplies $600
D. debit Supplies Expense $600

查看答案

单选题

The accountant for Trumbull Corp. failed to make the adjusting entry to record depreciation for the current year. The effect of this error is which of the following?

Assets, net income, and stockholders' equity are all overstated.
B. Assets and expenses are understated; net income is understated.
C. Net income is overstated and liabilities are understated.
D. Assets are overstated; stockholders' equity and net income are understated.

查看答案

单选题

Interest earned on a note receivable at December 31 equals $375. What adjusting entry is required to accrue this interest?

A. Interest Expense 375Cash 375
B. Interest Payable 375Interest Expense 375
C. Interest Receivable 375Interest Revenue 375
D. Interest Expense 375Interest Payable 375

查看答案

单选题

All of the following statements are true except one. Which statement is false?

Accrual accounting produces better information than cash-basis accounting.
B. Adjusting entries are required for a business that uses the cash basis.
C. The expense recognition principle directs accountants to identify and measure all expenses incurred and deduct them from revenue earned during the same period.
D. A fiscal year may end on some date other than December 31.

查看答案

单选题

Adjusting entries:

A. are needed to measure the period's net income or net loss.
B. do not debit or credit Cash.
C. update the accounts
D. all of the listed choices.

查看答案

单选题

An adjusting entry that debits an expense and credits a liability is which type?

A. Depreciation expense
B. Prepaid expense
C. Accrued expense
D. Cash expense

查看答案