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    Pidgeon73's Avatar
    Pidgeon73 Posts: 18, Reputation: 1
    New Member
     
    #1

    Apr 13, 2012, 06:13 PM
    Adjusting entries
    Additional data as of March 31, 20XX (ADJUSTING ENTRIES):
    a. Interest earned on marketable securities,
    But not received $ 120
    b. Unpaid salaries 100
    c. An unrecorded and unpaid advertising bill
    Was discovered 85
    d. Supplies on hand determined by a physical
    Count 90
    e. Depreciation on equipment not recorded 2,380
    f. One-half of the prepaid insurance premiums
    Expired during the period 360
    g. Of the advances received from clients, $800
    Has been earned 80 4

    Questions 1-5: Select the one best answer to each question

    (1) the total of the adjustments debit column is:
    A. 3470, B.3575, C. 4065 D. 4425
    I chose C

    (2) The total bof the adjusted trial balance credit column is:
    A. 35705, B 38005, C 36405 D 39785
    I chose D

    (3) The net income for the year ended march 31,20XX is:
    A. 5265 B. 5385 C. 7765 D. 7985
    I chose C

    (4) The total of the balance sheet debit column is:
    A. 19,735 B 22740 C 25120 D 30760

    (5) The balance of the accounts payable account in the balance sheet credit column is:
    A. 1125 B. 1210 C. 1295 D 1395
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    Apr 13, 2012, 06:38 PM
    No. 1 is correct

    Not enough information provided to check your other answers.

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