in applying therules of debitsand credits,which of thefollowingstatements iscorrect? posting only the debit part of a transactiona journal entrythat containsmore than justtwo accounts iscalled:a compound journal entryposting refers tothe process oftransferringinformation froma journal to the general ledger accountswhich of thefollowing is notone of the fivesteps in theaccounting cycleeliminatethe purchase of$500 of supplieson account will:
utilities usedduring a monthfor which no billhas yet beenreceived is anexample ofare not yet paid or recordedwhich of thefollowing is notan example of aclosing entryclose unearned revenue to retained earningswhich of thefollowingtransactions doesnot affect thebalance sheettotals? yearly dividendstotaled $3,000,what was the netincome or netloss for the year?
balance ofaccountsreceivable?kelly corporationreceived anadvancedpayment of$20,000 in 2012from rufuscompany forconsultingservices. kellyperformed halfof the consultingin 2012 and theremainder in2013. kellyreports using theaccrual basis ofaccounting. howmuch revenuefrom thisconsultingproject will kellyreport in 2012?$10,000
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