Which of the items below does not appear on the worksheet? A. Adjusting entries B. The unadjusted trial balance C. Closing entries D. The drawing account | Homework.Study.com (2024)

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• Which of the items below does not appear on the worksheet? a. Adjusting Entries. b. The Drawing Account. c. Closing Entries. d. The Unadjusted Trial Balance.
• Which of these best describes a balance sheet? a) listing of balance b) A record of closing entries
• Which of the following is prepared after the preparation of the balance sheet? a. Closing entries. b. Adjusting entries. c. Adjusted trial balance. d. Statement of retained earnings. e. Ledger accounts.
• Which columns of the accounting worksheet show unadjusted amounts? a. Adjustments. b. Trial Balance. c. Income Statement. d. Balance Sheet.
• Which of the following columns of the worksheet are referred to when preparing closing entries to the Income Summary account? A. Adjustments columns B. Adjusted trial balance columns C. Balance sheet columns D. Income statement columns
• Which of the following accounts will appear on the post-closing trial balance? a. Capital. b. Depreciation expense. c. Sales. d. Payroll tax expense.
• Identify which statement the following item would appear: Notes payable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• Identify on which statement the following item would appear: Accounts payable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• Identify which statement the following item would appear: Accounts receivable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• What do adjusting entries in the case of determining the difference between an unadjusted trial balance and an adjusted trial balance consist of?
• Which of the following accounts would probably be contained in an adjusted trial balance, but not in a trial balance? a. Depreciation Expense b. Cash c. Unearned Revenue d. Utilities Expense
• Which types of accounts will appear in the post-closing trial balance? (a) Permanent (real) accounts. (b) Temporary (nominal) accounts. (c) Accounts shown in the income statement columns of a worksheet. (d) None of the above.
• Which account will not appear on an after-closing trial balance? a. Cash. b. Prepaid Expenses. c. Unearned Revenue. d. Retained Earnings, at the beginning of the period.
• What accounts are taken from the adjusted trial balance to prepare an income statement?
• If an account has a debit balance of $740 in the Trial Balance section of a worksheet and there is a debit of $280 in the Adjustments section, the account balance in the Adjusted Trial Balance section of the worksheet is a what?
• Which account would be listed on a post-closing trial balance? A) Sales Revenue B) Depreciation Expense C) Retained Earnings D) Income Tax Expense
• Which of the following items will least likely appear on the balance sheet of a service business? A) Inventory B) Accounts receivable C) Accounts payable D) Cash
• The supplies account shows $6,000. Upon doing an inventory count, the balance on had should be $2,000. Prepare the adjusting journal entry.
• Which of the following accounts will not appear in a post-closing trial balance? a) Cash b) Revenues c) Accumulated Depreciation d) Retained Earnings e) None of these.
• Which of the following accounts require adjusting entries? a. Accounts Receivable. b. Cash. c. Inventory. d. Unearned Revenue. e. Accounts Payable.
• After preparing and posting the closing entries for revenues and expenses, the Income Summary account has a debit balance of $32,000. What is the entry to close the Income Summary account?
• Which trial balance will consist of the greatest number of accounts? a. Balance b. Adjusted trial balance c. Trial balance d. Post-closing trial balance
• Identify which statement the following item would appear: Wages payable, ending balance. a. Income Statement b. Balance Sheet c. Statement of Cash Flows
• a. What accounts are on the balance sheet lists? b. What accounts are on the income statement lists?
• After preparing and posting the closing entries for revenues and expenses, the Income Summary account has a credit balance of $18,900. What journal entry is used to close the Income Summary account?
• Which of the following entries made to record the payment of $200 on account will cause the trial balance to be out of balance? a. No entry is recorded. b. Cash is debited for $200 and Service Revenue is credited for $200. c. Cash is debited for $20 and A
• Which of the following accounts would NOT appear in the post-closing trial balance? A) Unearned Service Fees Revenue B) Dividends C) Supplies D) Salaries Payable
• A trial balance prepared after the closing entries have been journalized and posted is the: a. unadjusted trial balance b. post-closing trial balance c. general ledger d. adjusted trial balance e. worksheet
• In preparing closing entries, which of the following columns of the worksheet are the most helpful? a) The Adjusted Trial Balance columns. b) The Income Statement columns. c) The Balance Sheet columns. d) The Adjustments columns.
• After the Adjusted Trial Balance columns of a worksheet have been totaled, which account balances are extended to the Income Statement columns, the Statement of Retained Earnings columns, and the Balance Sheet columns?
• What accounts are usually listed on a post-closing trial balance?
• 4. Which of the following accounts will appear on the post-closing trial balance? a. Capital b. Depreciation Expense c. Sales d. Payroll Tax Expense 5. The current ratio is calculated by: a. dividi
• Which of the following accounts would not appear on a balance sheet? a. Service Revenue. b. Salaries Payable. c. Unearned Revenue. d. Neither Service Revenue nor Unearned Revenue would appear on a balance sheet.
• The post-closing trial balance differs from the adjusted trial balance in that it: a. does not take into account closing entries. b. does not take into account adjusting entries. c. does not include balance sheet accounts. d. does not include income state
• Which item would not appear on a Balance Sheet? a) Interest Payable b) Retained Earnings c) Prepaid expenses d) Accounts Receivable e) Gross Profit
• Which of the following steps must be completed before preparing the adjusted trial balance? a. Posting of journal entries to the accounts b. Journalize and post the closing entries c. Prepare the post minus the closing trial balance d. Prepare the fin
• A list of the accounts and their balances at the end of the period, after journalizing and posting the closing entries, is called: A. post-closing trial balance B. chart of accounts C. preclosing balance sheet D. adjusted trial balance
• Which type of journal entries are made at the end of each accounting period so that the financial statements better reflect the accrual method of accounting? A. Adjusting B. Closing C. Reversing
• What is the relationship between the unadjusted trial balance, adjusting journal entries, and the adjusted trial balance?
• Which one of the following accounts will be debited when making closing entries? (a) Cost of Goods Sold (b) Sales Revenue (c) Cash (d) Accounts Payable
• Which of the following accounts usually appear in the post-closing trial balance: (a). Accounts Receivable (b). Accumulated Depreciation (c). Cash d(). Depreciation Expense (e). Equipment (f). Estella Hall, Capital (g). Estella Hall, Drawing (h).
• Prepare the closing entries at October 31 in the General Journal below. Hint:Use the balances for each account which appear on the Adjusted Trial Balance for your closing entries.
• Which one of the following items is not generally used in preparing a statement of cash flows? A. comparative balance sheets B. current income statement C. adjusted trial balance D. additional information
• Which of the following accounts would not appear in a closing journal entry? a. Interest Revenue b. Accumulated Depreciation c. Retained Earnings d. Salary Expense
• To fill in the unadjusted trial balance columns in a worksheet, the account balances before adjustments are copied directly from the: A. ledger B. chart of accounts C. balance sheet of previous year D. adjusted trial balance
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? a. accounts payable. b. depreciation expense - machinery. c. accounts receivable. d. cash
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? A. Depreciation Expense-Machinery B. Accounts Receivable C. Accounts Payable D. cash
• Which of the following statements does not correctly describe the allowance for doubtful accounts balance? a. It is reported in the balance sheet as a component of current assets. b. It is a contra-asset account. c. It is reported on the balance sheet as
• Which of the following statements does not correctly describe the allowance for doubtful accounts balance? a. It is reported on the balance sheet as a component of current assets. b. It is a contra asset account. c. It is reported on the balance sheet
• Which of the following accounts should be closed to the Income Summary account at the end of the fiscal year? a) Cash b) Accounts Receivable c) Depreciation Expense - Machinery d) Accounts Payable
• Which accounts would show a balance in a post-closing trial balance?
• What merchandising account(s) will appear in the post-closing trial balance?
• Which financial statement would contain the following account balance: Allowance for doubtful accounts? a. Balance Sheet b. Income Statement c. Statement of Owners' Equity
• What types of accounts are debited and credited in an unearned revenue adjusting entry?
• Accounting - Do adjusting entry amounts appear in an income statement as well as a balance sheet? 1 answer below Do adjusting entry amounts appear in an income statement as well as a balance sheet?
• Which of the following types of adjusting entries is most likely to involve human judgment? a. Uncollectible receivables. b. Prepaid expenses. c. Deferred revenues. d. Closing entries
• A post-closing trial will show: (a) Zero balances for all accounts, (b) Zero balances for balance sheet accounts, (c) Only balance sheet accounts, (d) Only income statement accounts
• Which of the following accounts would not be impacted by adjusting journal entries? a) Accounts Receivable b) Consulting Fee Earned c) Unearned Consulting Fees d) Cash e) Wages Payable
• Which of the following accounts would not appear in a closing entry? a. Salary Expense b. Interest Income c. Accumulated Depreciation d. Retained Earnings
• Which of the following accounts would appear on the post-closing trial balance? A. Owner's Capital B. Fees Earned C. Income Summary D. Rent Expense
• The adjusted trial balance shows: A) account balances after adjustments. B) revenue and expense accounts only. C) account balances before adjustments. D) balance sheet accounts only.
• Which of the following accounts will be closed by debiting the Income Summary account? a. Depreciation Expense b. Accounts Payable c. Service Revenue d. Accumulated Depreciation
• A post-closing trial balance is prepared: a. before closing entries have been journalized but after the entries are posted. b. before closing entries have been journalized and posted. c. after closing entries have been journalized but before the entries a
• The balances for the accounts listed below appeared in the Adjusted Trial Balance columns of the worksheet. Indicate whether each balance should be extended to (a) an Income Statement column or (b) a Balance Sheet column. \\ 1. Accounts Payable 2. Acco
• Prior to year-end adjusting entries, what would explain the allowance for uncollectible accounts having a debit balance?
• Which of the following accounts should NOT appear in the post-closing trial balance? a.unearned revenue b. prepaid insurance c. accumulated depreciation d. service revenue
• Which of the following items is not a specific account in a company's accounting records? A. Income B. Accounts Receivable C. Sales Revenue D. Service Fees
• Which of the following accounts should not appear in a post-closing trial balance? A. Prepaid rent. B. Wages payable. C. Retained earnings. D. Depreciation expense. E. Unearned service fees.
• From the list below, identify the accounts that will appear on the post-closing trial balance. Accounts 1. cash 2. accounts receivable 3. supplies 4. equipment 5. accumulated depreciation 6. accounts payable
• Which of the following items is not in a balance sheet? A) Revenue B) Accounts Receivable C) Equipment D) Accounts Payable
• Which balance sheet account provides the link between the balance sheet and the operations statement?
• Which trial balance will consist of the greatest number of accounts? A) Adjusted trial balance. B) Balance. C) Trial balance. D) Post-closing trial balance.
• Explain what an unadjusted trial balance is, and the relationship between the unadjusted trial balance, adjusting journal entries, and the adjusted trial balance?
• Which financial statement would contain the following account balance: Accounts receivable? a. Balance Sheet b. Income Statement c. Statement of Owners' Equity
• Which of the following accounts would be decreased by a credit entry? a. Sales b. Accounts Payable c. Notes Payable d. Finished Goods Inventory
• After which of the following errors would the adjusted trial balance totals not agree? a) The adjustment for depreciation was omitted. b) A debit to Accounts Receivable was inadvertently posted as a credit to Accounts Payable. c) A debit to Accounts Recei
• After the closing entries are posted to the ledger, each revenue account will have: a. a zero balance. b. a debit balance. c. a credit balance. d. either a debit or a credit balance.
• Which of the following accounts will appear on the post-closing trial balance? a. Miscellaneous Income. c. Medicare Tax Payable. b. Payroll Taxes Expense. d. Sales
• Which of the following accounts will be closed by debiting the income summary account? A. Owner, capital. B. Service revenue. C. Accounts receivable. D. Salaries expense.
• What is the term for entries that may be made whenever an adjusting entry creates a balance in an asset or liability account that initially had a zero balance?
• Which of the following accounts reported on a balance sheet is merely an estimate? a. Buildings b. Equipment c. Accounts payable d. Allowance for doubtful accounts e. Common stock
• Following is the adjusted trial balance of Post Company. Based on this information prepare a Balance Sheet, Income Statement and Statement of Retained Earnings. Explain the closing entry process and p
• On the adjusted trial balance when closing entries, what is the balance that needs to be transferred to retained earnings?
• What would NOT appear on a balance sheet? a. unearned revenue b. salaries payable c. interest revenue d. retained earnings
• Consider the following adjusting entry: Entry to record expiration of prepaid rent. Identify the account to be debited, and the account to be credited. Also, indicate which of the accounts is the income statement account, and which is the balance sheet ac
• After the closing entries are posted to the ledger, each expense account will have: A. a debit balance. B. a credit balance. C. either a debit or a credit balance. D. a zero balance.
• To which of the following accounts should the balance in the income summary account be closed? a. Draws b. Net income c. Owner's capital d. Service revenue
• Which of the following is NOT an item of a Balance Sheet? A) Accounts Receivable B) Accounts Payable C) Sales Revenue D) Marketable Securities
• Which account would likely be included in a deferral adjusting entry? a. Unearned Revenue b. Interest Revenue c. Accounts Receivable d. Salary Payable
• Which of the following accounts would not appear in the post-closing trial balance? -Unearned Service Revenue -Depreciation Expense -Dividends -Accumulated Depreciation-Equipment -Service Revenue
• Which of the following accounts ordinarily appears in the post-closing trial balance? a. Supplies Expenses b. Unearned Rent c. Dividends d. Fees Earned
• Which of the following elements are found on the income statement? A. Cash B. Accounts receivable C. Common stock D. Retained earnings E. Salaries expense
• After the closing entries are posted to the ledger, each revenue account will have: A. a zero balance B. a credit balance. C. a debit balance. D. either a debit or a credit balance.
• Which of the following would include the fewest accounts? a. The trial balance b. The adjusted trial balance c. The post-closing trial balance d. All of the above would include the same number of accounts e. B and C have an equal number of accounts
• Which of the following is done last at the end of the year? a) Prepare adjusting journal entries b) Prepare an adjusted trial balance c) Prepare closing journal entries d) Prepare a post closing trial balance
• A post-closing trial balance will show: - zero balances for balance sheet accounts. - zero balances for all accounts. - only balance sheet accounts. - only income statement accounts.
• What is the purpose of a worksheet? What are the steps in completing the worksheet? Which account balances move to the income statement columns and which move to the balance sheet columns? Which are temporary accounts and which are permanent?
• Data relating to the balances of various accounts affected by adjusting or closing entries appear below. The entries which caused the changes in the balances are not given. You are asked to provide the missing journal entries which would logically ac
• Which of the following accounts would be included in a post-closing trial balance? a. Accounts Payable b. Accumulated Depreciation c. Ben Crayton, Capital d. Ben Crayton, Drawing e. Cash f. Depreciation Expense g. Fees Earned h. Office Equipment
• Which of the following accounts would be closed at the end of the accounting period? A) Merchandise Inventory B) Purchases C) Prepaid Rent D) Accumulated Depreciation