1. 1. Ahmad company signed a seven-month note payable in the amount of JD 150,000 on September 1st, 2019. The note requires interest at an annual rate of 10 percent. The December 31, 2019 adjusting entry is.
   1. debit Interest Expense and credit Interest Payable, JD5,000.
   2. debit Interest Expense and credit Interest Payable, JD3750.
   3. debit Interest Expense and credit Interest Payable, JD1,250.
   4. debit Interest Expense and credit Cash, JD5,000

2. When Two independent auditors count Carrefour's inventory and arrive at the same physical quantity amount for inventory, the information display which of the following characteristic?

3. 1. Consistency
   2. Comparability
   3. Verifiability
   4. Timeliness
   5. None of choice

3. Bushra Company paid JD600 on November 1, 2019, for one year's rent in advance and recorded the transaction with a debit to an expense account. The December 31, 2019 adjusting entry is:

1. debit Rent Expense and credit prepaid Rent, JD600.
2. debit prepaid Rent and credit Rent Expense, JD500.
3. debit prepaid Rent and credit Unearned Rent Revenue, JD500.
4. debit prepaid Rent and credit Rent Expense, JD600.

4. Hashem co. Purchased equipment on January 1 for JD40,000, the equipment will have a zero residual value and a useful life of 10 years. if the company prepare its financial statement on December 3 The December 31 adjusting entry is:

1. debit Accumulated Depreciation and credit depreciation Expense, JD4,000.
2. debit Depreciation Expense and credit Accumulated depreciation, JD10,000. Oc.
3. debit Depreciation Expense and credit Accumulated depreciation, JD4,000.Od.
4. debit Equipment and credit Accumulated depreciation, JD4,000

5. Amman co. purchased supplies costing JD5,000 on January 1, 2019, and recorded the transaction by increasing assets. At the end of the year, JD3,000 of the supplies are still on hand. How will the adjusting entry impact Amman co.'s statement of financial position at December 31, 2019?:

1. Increase Liabilities JD3,000.
2. Decrease Assets JD2,000.
3. Increase Equity JD2,000.
4. Decrease Assets JD3,000

6. In October 1st 2019, Sal company Performed services for clients, for which JD300 was collected in cash and JD70 was billed to the clients. what is the impact on its statement of financial position at December 31, 2019

1. Increase Assets JD370.
2. Increase Equity JD70.
3. Increase Liabilities JD70.
4. Increase Equity JD300