Question : 21) The adjusted trial balance proves that: A) all adjusting entries : 1232268

 

21) The adjusted trial balance proves that:

A) all adjusting entries have been recorded correctly.

B) debit totals equal credit totals.

C) no adjusting entry has been entered twice.

D) the balance of the adjusted trial balance is correct.

22) The unadjusted trial balance for Supplies shows a $434 balance. If $132 of supplies were used during the period, the adjusted balance for Supplies would be a:

A) $302 credit.

B) $302 debit.

C) $132 debit.

D) $132 credit.

23) The unadjusted trial balance for Prepaid Insurance shows a $1,350 balance. $500 of the balance was unexpired at year’s end. On the adjusted trial balance, the balance for Prepaid Insurance is a:

A) $500 debit.

B) $500 credit.

C) $850 debit.

D) $850 credit.

24) The unadjusted trial balance shows a $780 balance for Depreciation Expense. Depreciation of $235 was recorded for the period. The adjusted trial balance figure for Depreciation Expense is now a:

A) $ 545 debit.

B) $ 545 credit.

C) $1,015 debit.

D) $1,015 credit.

25) The unadjusted trial balance shows a $12,000 balance for Prepaid Rent. At the end of the year, $7,000 of the rent had been used. The adjusted trial balance reflects a balance for Prepaid Rent of:

A) $5,000 debit.

B) $5,000 credit.

C) $7,000 debit.

D) $7,000 credit.

26) The unadjusted trial balance lists Supplies with a $678 balance. After taking an inventory of supplies, it was found that $390 were on hand. The adjustment to Supplies Expense is a:

A) $390 debit.

B) $390 credit.

C) $288 debit.

D) $288 credit.

27) The unadjusted trial balance shows Accumulated Depreciation–Computer with a credit balance of $190. After determining depreciation expense is $45, the adjusted balance in the accumulated depreciation account for the computer will be a:

A) $ 45 debit.

B) $190 credit.

C) $235 credit.

D) $145 debit.

28) The unadjusted trial balance reflects a normal balance for Wages Expense of $750. Accrued wages for the period are $1,045. The adjusted balance for Wages Expense is now a:

A) $ 295 debit.

B) $ 295 credit.

C) $1,795 debit.

D) $1,795 credit.

29) Unearned Ticket Revenue is $5,034 on the unadjusted trial balance. During the period, $3,309 of that money has now been earned. The adjusted balance for Unearned Ticket Revenue is a:

A) $3,309 debit.

B) $3,309 credit.

C) $1,725 debit.

D) $1,725 credit.

30) The adjusted balance for Prepaid Insurance is a $724 debit. Insurance expense for the period was $1,136. What was the balance for Prepaid Insurance on the unadjusted trial balance?

A) $ 412 debit

B) $ 412 credit

C) $1,860 debit

D) $1,136 debit

31) The adjusted balance for Supplies was $333. The unadjusted balance for Supplies was $509. The amount of supplies expense would be a:

A) $333 debit.

B) $176 debit.

C) $176 credit.

D) $509 debit.

32) Interest Expense had an adjusted balance of $1,178. The adjusting entry for accrued interest was for $382. The unadjusted balance for Interest Expense was a:

A) $ 382 debit.

B) $1,560 debit.

C) $1,560 credit.

D) $ 796 debit.

33) It is possible to determine the net income or loss for the period by:

A) taking adjusted trial balance amounts and subtracting expenses from revenues.

B) looking at the bottom line on the income statement.

C) taking post-closing trial balance amounts and subtracting expenses from revenues.

D) both (A) and (B), which describe correct ways to determine the net income or loss for the period.

 

 

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