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Submission ViewYour quiz has been submitted successfully.In preparing a work sheet, an adjusted trial balance amount ismistakenly sorted to the wrong work sheet column. TheBalance Sheet columns will balance on completing the worksheet but with the wrong net income, if the amount sorted inerror is:Question options:amount placed in the Balance Sheet Credit column.mount placed in the Balance Sheet Debit column.mount placed in the Income Statement Credit column.ount placed in the Balance Sheet Credit column.Which of the following accounts should be closed to thecapital account at the end of the year?Question options:enueranceentThe income statement is prepared fromQuestion options:trial balance.Statement columns of the end-of-period spreadsheet.justed Trial Balance or the Income Statement columns of the end-of-period spreadsheet.
usted Trial Balance and the Income Statement columns of the end-of-period spreadsheet.A company shows a $600 balance in Prepaid Rent in theUnadjusted Trial Balance columns of the work sheet. TheAdjustments columns show expired rent of $200. Thisadjusting entry results inQuestion options:se in net income.e in net income.nce between the debit and credit columns of the Unadjusted Trial Balance.aid insurance.Managers use an internal control systemQuestion options:nd control business activities.ofitable operations.the need for an audit.a return to investors.A classified balance sheet:Question options:ompany's ability to earn net income.sets and liabilities into subgroups.roups items into assets, liabilities and equity.ating, investing, and financing activities.

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Term
Spring
Professor
N/A
Tags
Balance Sheet, Generally Accepted Accounting Principles, bilities

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