超星 - Assignment 3

单选题

Closingentriestransfernetincomeorlossanddividendspaidto:

A. Paid-inCapital.
B. NetIncome.
CommonStock.
D. RetainedEarnings.

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单选题

ThefollowingnormalbalanceappearontheadjustedtrialbalanceofNationalCompany:Equipment………………………………………………………$70000Accumulateddepreciation,equipment……………$9000Depreciationexpense,equipment………………….$3000Thebookvalueoftheequipmentis:

A. 70000
B. 67000
C. 61000
D. 60000

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单选题

Leecompanypurchasedsuppliesfor$900during20X3.AtyearendLeehad$300ofsuppliesleft.Theadjustingentryshould:

A. debitSuppliesExpense$300
B. creditSupplies$300
C. creditSupplies$600
D. creditSupplies$900

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单选题

TheaccountantforDoverCompanyfailedtomaketheadjustingentrytorecorddepreciationforthecurrentyear.Theeffectofthiserroris:

Assetsareoverstated,stockholders’equityandnetincomeareunderstated.
B. Assets,netincome,andstockholders’equityarealloverstated.
C. Netincomeisoverstatedandliabilitiesareunderstated.
D. Assetsandexpensesareunderstated,netincomeisunderstated.

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单选题

InterestdueonanotepayabletoFirstNationalBankatDecember31equals$125.Whatadjustingentryisrequiredtoaccruethisexpense?

A. Interestpayable125Interestexpense125
B. Interestreceivable125Interestrevenue125
C. Interestexpense125Cash125
D. Interestexpense125Interestpayable125

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单选题

Ifarealestatecompanyfailstoaccruecommissionrevenue,

A. assetsareunderstatedandnetincomeisunderstated.
B. liabilitiesareoverstatedandowners’equityisunderstated.
C. revenuesareunderstatedandnetincomeisoverstated.
D. netincomeisunderstatedandstockholders’equityisoverstated.

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单选题

Allofthefollowingstatementsaretrueexceptone.Whichstatementisfalse?

Accrualaccountingproducesbetterinformationthancash-basisaccounting.
B. Adjustingentriesarerequiredforabusinessthatusesthecashbasis.
C. Thematchingprincipledirectsaccountantstoidentifyandmeasureallexpensesincurredanddeductthemfromrevenueearnedduringthesameperiod.
D. AfiscalyearendsonsomedateotherthanDecember31.

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单选题