1. What is the adjusting journal entry to record depreciation expense on equipment? A. Dr. Depreciation Expense, Equipment Cr. Equipment B. Dr. Equipment Cr. Depreciation Expense, Equipment C. Dr. Depreciation Expense, Equipment; Cr. Accumulated Depreciation, Equipment D. Dr. Accumulated Depreciation Equipment Cr. Depreciation Expense, Equipment E. None of the above 2. On January 1Company A purchases an insurance policy that covers four years, $4,000.. What is the adjusting journal entry to record the insurance expense for one year? A. Dr. Prepaid Insurance 1000; Cr. Cash 1000. B. Dr. Cash 1000; Cr. Insurance Expense 1000. C. Dr. Cash 1000; Cr. Prepaid Insurance 1000 D. Dr. Prepaid Insurance 1000; Cr. Cash 1000. E. None of the above. 3. In Nicky Company's balance sheet, the balance for cash, a permanent account, is $11,000 at the close of business on December 31, 2018 and $1,000 at December 31, 2019. What is the balance in cash on the balance sheet at the beginning of business on January 1, 2020? A. O B. 11,000 C. 1,000 D. 12,500 E. Some other number. 4. In Shum Company's income statement, the balance for sales, a temporary account, is $10,000 at December 31, 2018 and $50,000 at December 31, 2019. What is the balance in sales on the income statement at the beginning of business on January 1, 2020? A. O B. 50,000 C. 100,000 D. 10,000 E. Some other number