Accounting

Multiple Choice Question 152

Which of the statements below is not true?

Multiple Choice Question 66

A candy factory’s employees work overtime to finish an order that is sold on February 28. The office sends a statement to the customer in early March and payment is received by mid-March. The overtime wages should be expensed in

Multiple Choice Question 52

Management usually desires ________ financial statements and the IRS requires all businesses to file _________ tax returns.

Multiple Choice Question 113

If business pays rent in advance and debits a Prepaid Rent account, the company receiving the rent payment will credit

Multiple Choice Question 77

Which one of the following is not a justification for adjusting entries?

Multiple Choice Question 125

At March 1, Psychocandy Inc. reported a balance in Supplies of $200. During March, the company purchased supplies for $750 and consumed supplies of $800. If no adjusting entry is made for supplies

Multiple Choice Question 142

Stone Roses Candies paid employee wages on and through Friday, January 26, and the next payroll will be paid in February. There are three more working days in January (29–31). Employees work 5 days a week and the company pays $1,500 a day in wages. What will be the adjusting entry to accrue wages expense at the end of January?

Multiple Choice Question 119

Fugazi City College sold season tickets for the 2014 football season for $240,000. A total of 8 games will be played during September, October and November. In September, two games were played. In October, three games were played. The balance in Unearned Ticket Revenue at October 31 is

Multiple Choice Question 148

Employees at Tengo Corporation are paid $15,000 cash every Friday for working Monday through Friday. The calendar year accounting period ends on Wednesday, December 31. How much salaries and wages expense should be recorded two days later on January 2?

Multiple Choice Question 95

The balance in the supplies account on June 1 was $5,200, supplies purchased during June were $3,500, and the supplies on hand at June 30 were $3,000. The amount to be used for the appropriate adjusting entry is

 
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