Ch 3 quiz

Ch 3 quiz - Review Assessment REAL QUIZ FOR CHAPTR 3...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Review Assessment: REAL QUIZ FOR CHAPTR 3 Question 1 5 out of 5 points Data for an adjusting entry described as "accrued wages, $2,020" means to debit Correct Answer: Wages Expense and credit Wages Payable Question 2 5 out of 5 points The supplies account has a balance of $1,200 at the beginning of the year and was debited during the year for $2,300, representing the total of supplies purchased during the year. If $650 of supplies are on hand at the end of the year, the supplies expense to be reported on the income statement for the year is Correct Answer: $2,850 Question 3 5 out of 5 points The balance in the supplies account, before adjustment at the end of the year is $725. The proper adjusting entry if the amount of supplies on hand at the end of the year is $300 would be
Background image of page 2
Correct Answer: debit Supplies Expense $425, credit Supplies $425 Question 4 5 out of 5 points The unearned rent account has a balance of $36,000. If $4,000 of the $36,000 is unearned at the end of the accounting period, the amount of the adjusting entry is
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 9

Ch 3 quiz - Review Assessment REAL QUIZ FOR CHAPTR 3...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online