Anadjustingentrythatdebitsanexpenseandcreditsarelatedliabilityis ________
A. prepaidexpense
B. depreciationexpense
C. accruedexpense
D. cashexpense
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Whichofthefollowingaccountsisnotclosedout?
A. Retainedearnings
B. Depreciationexpense
C. Dividends
D. Interestrevenue
TheentrytocloseManagementFeesEarnedwouldbe:
A. ManageentFeesEarnedRetainedearnings
B. RetainedEarningsManagementFeesEarned
C. ManageentFeesEarnedEarnedRevenue
D. ManagementFeesEarneddoesnotneedtobecloseout.
onatrialbalance,whichofthefollowingwouldindicatethatanerrorhasbeenmade?
A. accumulateddepreciationhasacreditbalance
B. salaryexpensehasadebitbalance
C. servicerevenuehasadebitbalance
D. alloftheaboveindicateerrors
OnJanuary1ofthecurrentyear,Aladdincompanypaid$600renttocoversixmonths(January-June). Aladdinrecordedthistransactiontodebitprepaidrent.Aladdinadjuststheaccountsattheendofeachmonth.Basedonthesefacts,theadjustmententryattheendofJanuaryshouldinclude
A. acredittoprepaidrentfor$500
B. adebittoprepaidrentfor$500
C. acredittoprepaidrentfor$100
D. adebittoprepaidrentfor$100
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