Quiz – End of Period
Intermediate Accounting
Spiceland, Nelson, and Thomas
10th Edition
Suppose an end-of-period adjusting entry uses a debit to supplies expense; this usual credit entry is made:
Suppose an end-of-period adjusting entry uses a debit to supplies expense; this usual credit entry is made:
The recognition of which of the following expenses is an example of matching expenses with the revenues they produced?
Prepare the four adjusting journal entries.
Your numbers will vary.
Assuming no income taxes, compute the company’s net income (or loss), total current assets, total current liabilities, and total shareholders’ equity.
Your numbers will vary.
Given an annual report to shareholders, they ask you to prepare the income statement for the year-end.
Your numbers will vary.
Given an annual report to shareholders, they ask you to prepare the balance sheet.
Your numbers will vary.
Find the accounts receivable valued in the balance sheet.
Your numbers will vary.
Asks which is a long-term asset
Find what adjusting entry is necessary on June 30?
Your numbers will vary.
What is the adjusting entry to record accrued salaries at the end of the month?
Your numbers will vary.