Accounting Exam 7 - An adjustment for Prepaid Rent would...

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Accounting Exam 7

Question 8   of 40 2.5 / 2.5 Points It 's the end of the accounting period and no electric bill has been received ( but the expense has been incurred . ; you should record an entry that __ _ _ ______.
A. increases the total assets and increases the total expenses
B. decreases the total assets and increases the total expenses
C. increases the total liabilities and increases the total expenses
D. decreases the total liabilities and increases the total expenses
Answer:  C .   increases the total liabilities and increases the total expenses
Question 9   of 40 2.5 / 2.5 Points The cost of an asset less accumulated depreciation equals __________.
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Question 12   of 40 2.5 / 2.5 Points If the balance of supplies at the start of the month was $ 900 and at the end of the month you had $ 450 on hand , the adjustment for Supplies would be __________.
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An adjustment for Prepaid Rent would indicate __________.A. the amount originally paidB. the amount expiredC. the amount on handD. the amount of the trial balance
Question 2 of 402.5/ 2.5 PointsAs Prepaid Rent is used, the asset becomes a(n. __________.
Question 3 of 402.5/ 2.5 PointsThe order of the steps to prepare the worksheet are __________.
Question 4 of 402.5/ 2.5 PointsWhich of the following would cause a liability to be credited and an expense to be debited?
Question 5 of 402.5/ 2.5 PointsBringing account balances up to date before preparing financial reports is called __________.A. postingB. adjustingC. journalizingD. analyzing
Question 6 of 402.5/ 2.5 PointsNot recording the Prepaid Rent used causes __________.
Question 7 of 400.0/ 2.5 PointsIf the Supplies account is not adjusted __________.
Question 8 of 402.5/ 2.5 PointsIt's the end of the accounting period and no electric bill has been received (but the expense has been incurred.; you should record an entry that __________.
Question 9 of 402.5/ 2.5 PointsThe cost of an asset less accumulated depreciation equals __________.

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