The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. \[\begin{array} { | c | l | l | } \hline \text { Supplies Expense } & 730 & \\ \hline \text { Supplies } & & 730 \\ \hline ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? & & \\ \hline & & \\ \hline \end{array}\]

A) Adjust supplies inventory to actual. B) Record purchase of supplies. C) Reduce supplies expense. D) Record sale of supplies. A) Adjust supplies inventory to actual. B) Record purchase of supplies. C) Reduce supplies expense. D) Record sale of supplies.

Exam 3: The Adjusting Process

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Two income statements for Toby Sam Enterprises are shown below: Prepare a vertical analysis of Toby Sam Enterprises' income statements. Has operating income increased or decreased as a percentage of revenue?

(Multiple Choice)

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Question 201

If the adjustment of the unearned rent account at the end of the period to recognize the amount of rent earned is inadvertently omitted, the net income for the period will be understated.

(True/False)

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Question 202

Identify the effect a-h) that omitting each of the following items would have on the balance sheet. -Property taxes are paid annually. The estimated monthly amount for the taxes was not recorded.

(Multiple Choice)

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Question 203

The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. Supplies Expense 730 Supplies 730 ???????????????

(Multiple Choice)

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Question 204

The balance in the supplies account before adjustment at the end of the year is $6,250. The proper adjusting entry if the amount of supplies on hand at the end of the year is $1,500 would be

(Multiple Choice)

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Question 205

If there is a balance in the prepaid rent account after adjusting entries are made, it represents an)

(Multiple Choice)

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Question 206

By matching revenues and expenses in the same period in which they are incurred

(Multiple Choice)

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Question 207

Bloom's Company pays biweekly salaries of $40,000 every other Friday for a ten-day period ending on that day. The last payday of December is Friday, December 27. Assuming the next pay period begins on Monday, December 30, journalize the adjusting entry necessary at the end of the fiscal period December 31). Date Description Post. Ref. Debit Credit

(Essay)

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Question 208

The adjusting entry for gym memberships earned that were previously recorded in the unearned gym memberships account is

(Multiple Choice)

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Question 209

Which of the accounts below would most likely appear on an adjusted trial balance but probably would not appear on the trial balance?

(Multiple Choice)

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Question 210

Showing 201 - 210 of 210

Two income statements for Toby Sam Enterprises are shown below: Prepare a vertical analysis of Toby Sam Enterprises' income statements. Has operating income increased or decreased as a percentage of revenue?

If the adjustment of the unearned rent account at the end of the period to recognize the amount of rent earned is inadvertently omitted, the net income for the period will be understated.

Identify the effect a-h) that omitting each of the following items would have on the balance sheet. -Property taxes are paid annually. The estimated monthly amount for the taxes was not recorded.

The following adjusting journal entry does not include an explanation. Select the best explanation for the entry. Supplies Expense 730 Supplies 730 ???????????????

The balance in the supplies account before adjustment at the end of the year is $6,250. The proper adjusting entry if the amount of supplies on hand at the end of the year is $1,500 would be

If there is a balance in the prepaid rent account after adjusting entries are made, it represents an)

By matching revenues and expenses in the same period in which they are incurred

The adjusting entry for gym memberships earned that were previously recorded in the unearned gym memberships account is

Which of the accounts below would most likely appear on an adjusted trial balance but probably would not appear on the trial balance?

Introduction to Accounting and Business

Analyzing Transactions

Completing the Accounting Cycle

Accounting for Merchandising Businesses

Inventories

Sarbanes-Oxley, Internal Control, and Cash

Receivables

Fixed Assets and Intangible Assets

Current Liabilities and Payroll

Corporations: Organization, Stock Transactions, and Dividends

Long-Term Liabilities: Bonds and Notes

Investments and Fair Value Accounting

Statement of Cash Flows

Financial Statement Analysis

Managerial Accounting Concepts and Principles

Job Order Costing

Process Cost Systems

Cost Behavior and Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Performance Evaluation Using Variances From Standard Costs

Performance Evaluation for Decentralized Operations

Differential Analysis, Product Pricing, and Activity-Based Costing

Capital Investment Analysis

Cost Allocation and Activity-Based Costing

Lean Principles, Lean Accounting, and Activity Analysis

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