题目内容

On a trial balance, which of the following would indicate that an error has been made?

A. Unearned Revenue has a credit balance.
B. Salary Expense has a debit balance.
C. Service Revenue has a debit balance.
D. All of the listed choices indicate errors.

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Using the accrual basis, in which month should revenue be recorded?

A. In the month that the invoice is mailed to the customer
B. In the month that goods are ordered by the customers
C. In the month that goods are shipped to the customer
D. In the month that cash is collected from the customer

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On January 1 of the current year, Bamber Company paid $1,500 rent to cover six months (January-June). Bamber recorded this transactions as follows:Jan 1 Prepaid Rent 1,500Cash 1,500Bamber adjusts the accounts at the end of each month. Based on these facts, the adjusting entry at the end of January should include

A. a credit to Prepaid Rent for $1,250
B. a debit to Prepaid Rent for $250
C. a credit to Prepaid Rent for $250
D. a debit to Prepaid Rent for $1,250

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On January 1 of the current year, Bamber Company paid $1,500 rent to cover six months (January-June). Bamber recorded this transactions as follows:Jan 1 Prepaid Rent 1,500Cash 1,500Bamber's adjusting entry at the end of February should include a debit to Rent Expense in the amount of

A. $0
B. $1,500
C. $500
D. $250

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An adjusting entry recorded June salary expense that will be paid in July. Which statement best describes the effect of this adjusting entry on the company's accounting equation?

Assets are decreased, liabilities are increased, and stockholders' equity is decreased.
B. Assets are not affected, liabilities are increased, and stockholders' equity is decreased.
C. Assets are decreased, liabilities are not affected, and stockholders' equity is decreased.
D. Assets are not affected, liabilities are increased, and stockholders' equity is increased.

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On a trial balance, which of the following would indicate that an error has been made?

A. Unearned Revenue has a credit balance. B. Salary Expense has a debit balance. C. Service Revenue has a debit balance. D. All of the listed choices indicate errors.

Using the accrual basis, in which month should revenue be recorded?

On January 1 of the current year, Bamber Company paid $1,500 rent to cover six months (January-June). Bamber recorded this transactions as follows:Jan 1 Prepaid Rent 1,500Cash 1,500Bamber's adjusting entry at the end of February should include a debit to Rent Expense in the amount of

An adjusting entry recorded June salary expense that will be paid in July. Which statement best describes the effect of this adjusting entry on the company's accounting equation?

A. Unearned Revenue has a credit balance.
B. Salary Expense has a debit balance.
C. Service Revenue has a debit balance.
D. All of the listed choices indicate errors.