unit 6 - account. At year end, the adjusting entry on the...

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Grade Details 1. Question: Use the following worksheet to answer the following questions. Based on the preceding trial balance, the ending balance in C. Finley, Capital is: Your Answer: $33,000 INCORRECT $75,000 CORRECT ANSWER $30,000 $78,000 Points Received: 0 of 2 2. Question:
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Use the following worksheet to answer the following questions. Based on the preceding trial balance, the entry to close C. Finley, Drawing would be: Your Answer: Points Received: 2 of 2 3. Question: After all of the account balances have been extended to the Balance Sheet columns of the work sheet, the totals of the debit and credit columns show debits of $36,678 and the credits of $41,101. This indicates that Your Answer:
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Points Received: 2 of 2 4. Question: On September 1, the company pays rent for twelve months in advance and debits an asset
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Unformatted text preview: account. At year end, the adjusting entry on the work sheet would Your Answer: Points Received: 2 of 2 5. Question: Which of the accounts below would appear in the Balance Sheet columns of the work sheet? Your Answer: Points Received: 2 of 2 6. Question: When a work sheet is complete, the adjustment columns should have Your Answer: Points Received: 2 of 2 7. Question: A work sheet includes columns for Your Answer: Points Received: 0 of 2 8. Question: The worksheet Your Answer: Points Received: 0 of 2 9. Question: The natural business year Your Answer: Points Received: 2 of 2 10. Question: The following are steps in the accounting cycle. Of the following, which would be prepared last? Your Answer: Points Received: 2 of 2...
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This note was uploaded on 01/28/2011 for the course AC 114 taught by Professor Irynaoreshkova during the Spring '10 term at Kaplan University.

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unit 6 - account. At year end, the adjusting entry on the...

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