题目内容

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

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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

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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

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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.

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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

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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

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

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?

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

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