1. The ending retained earnings account is:

Assets minus liabilities plus owner's equity

Revenue minus expenses

Year-to-date net income plus the total of the drawing account

Capital minus drawing

Year-to-date net income minus the total of the drawing account

15. The Maintain; Chart of Accounts window can be used to revise accounts in the chart of accounts.

True

False

25. In Sage 50, a backup file can be used to restore:

Doc files from Microsoft Word

A company that has not been set up

Two companies at the same time

Data from Microsoft Excel

Only files backed up as of the current month or period

26. To clear checks, ATMs, and deposits on the account reconciliation window, place a check mark in the Status column.

True

False

33. The account credited on the Receive Money window is:

Account No. 1040, IRA Savings

Account No. 1010, Money Market

The GL Account selected

The Receive Money window does not need to have an account credited

Account No. 1020, Checking Account

34. The Account Type for Owner Name, Capital is:

Equity-doesn't close

Other current liabilities

Retained earning

Equity-gets closed

Cash

39. To complete adjusting entries, use this journal:

Cash disbursements journal

Purchase journal

Cash receipts journal

General journal

Sales journal

44. Sage 50's _____________________________________ is the complete collection of accounts of a company, transactions associated with these accounts, and account balances for a specified period of time.

Navigation center

Data file statistic

General ledger system

Default

Maintenance system

48. Another way to describe account reconciliation is bank reconciliationthe process of bringing the balance of the bank statement and the balance of the cash account into agreement.

True

False

PLEASE HELP ME ANSWERS THESE QUESTIONS