Multiple Choice
Match the terms below with the correct definitions.
-Debit Merchandise Inventory; credit Income Summary
A) Unearned Revenue
B) Income Summary
C) First merchandise inventory adjusting entry (periodic system)
D) Beginning merchandise inventory
E) Ending merchandise inventory
F) Periodic inventory system
G) Wages Payable
H) Wages Expense
I) Purchases
J) Second merchandise inventory adjusting entry (periodic system)
Correct Answer:

Verified
Correct Answer:
Verified
Q21: Which of the following does NOT require
Q22: Purchase Discounts appear under which column of
Q23: On the worksheet of Hill Corporation, the
Q24: An actual count of a stock of
Q25: Unearned Subscriptions is classified as a liability
Q27: Sales appear under which worksheet column and
Q28: On the work sheet, Purchases Discounts appears
Q29: The Prepaid Insurance account has a balance
Q30: Unearned Revenue appears in the<br>A) Trial Balance
Q31: If the physical inventory is less than