Multiple Choice
The adjusted trial balance shows:
A) accounts that may still be out of balance.
B) revenues and expense amounts only.
C) numbers ready to be transferred to the financial statements.
D) assets, liabilities and Stockholders' Equity amounts only.
Correct Answer:
Verified
Correct Answer:
Verified
Q50: Adjusting entries are made only for accrued
Q51: The adjusted balance for Supplies was $403.
Q52: The unadjusted trial balance for Prepaid Insurance
Q53: Which of the following is a TRUE
Q54: The entry to close the Dividend account
Q56: The majority of businesses normally end their
Q57: Assets, Liabilities and Retained Earnings are permanent
Q58: All financial statements must have, in order,
Q59: The post-closing trial balance is a listing
Q60: Revenue accounts are closed by crediting them