题目内容

WhattypeofaccountisUnearnedRevenue(asset,liability,stockholders’equity,revenue,orexpense)andwhatisitsnormalbalance,respectively?

Asset,debit
B. Expense,debit
C. Liability,credit
D. Revenue,credit

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________istheallocationofthecostofanassetovertheasset'susefullife.

Accrual
B. Deferral
C. Depreciation
D. Expiration

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Lin,Inc.purchasedsuppliesfor$700during2015.AtyearendLinhad$500ofsuppliesonhand.Theadjustingentryshould:

A. DebitSupplies$200
B. CreditSupplies$500
C. DebitSuppliesExpense$200
DebitSupplies$500

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OnDecember1,realestatereceived$4,800fromatenantforthreemonths’rent.ThereceiptwascreditedtoUnearnedRentRevenue.WhatadjustingentryisneededonDecember31?

A. RentRevenue1600UnearnedRentRevenue1600
B. UnearnedRentRevenue1600RentRevenue1600
C. UnearnedRentRevenue3200RentRevenue3200
D. Cash1600RentRevenue1600

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TheentrytocloseCommissionRevenuewouldbe:

A. RetainedEarningsCommissionRevenue
B. CommissionRevenuedoesnotneedtobeclosedout
CommissionRevenueServiceRevenue
D. CommissionRevenueRetainedEarnings

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WhattypeofaccountisUnearnedRevenue(asset,liability,stockholders’equity,revenue,orexpense)andwhatisitsnormalbalance,respectively?

Asset,debit B. Expense,debit C. Liability,credit D. Revenue,credit

________istheallocationofthecostofanassetovertheasset'susefullife.

Lin,Inc.purchasedsuppliesfor$700during2015.AtyearendLinhad$500ofsuppliesonhand.Theadjustingentryshould:

OnDecember1,realestatereceived$4,800fromatenantforthreemonths’rent.ThereceiptwascreditedtoUnearnedRentRevenue.WhatadjustingentryisneededonDecember31?

TheentrytocloseCommissionRevenuewouldbe:

Asset,debit
B. Expense,debit
C. Liability,credit
D. Revenue,credit