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

Solarcompanyhasaone-monthaccountingperiod.OnMarch31,anadjustingentryrecordedMarchsalaryexpensethatwillbepaidinApril.WhichstatementsbestdescribestheeffectofthisadjustingentryonSolar’saccountingequation?

A. assetsarenotaffected,liabilitiesareincreased,andstockholders’equityisincreased
B. assetsaredecreased,liabilitiesareincreased,andstockholders’equityisdecreased
C. assetsarenotaffected,liabilitiesareincreased,andstockholders’equityisdecreased.
D. assetsaredecreased,liabilitiesarenotaffected,andstockholders’equityisdecreased.

______accountingrecordstheimpactofabusinesstransactionasitoccurs,evenifthebusinessreceivesorpaysnocash.

_____accountingrecordsonlycashtransasctions (cashreceiptsandcashpayments).

The_____principledealswithtwoissues:

A_____isanadjustmentforpaymentofanitemorreceiptofcashinadvance.

Accountingadjustmentsfallintothreebasiccategories:deferrals,depreciation,______.