13) On January 1, 2015, the Accounts Receivable of Linda Company had a debit balance of $150,000. During January the company provided services for $600,000 on account. The company collected $230,000 from its customers on accour in January. What was the ending balance in the Accounts Receivable account at the end of January? A) $370,000 B) $750,000 $520,000 $600,000 14) Accumulated Depreciation is a(n) -acount and carries a normal balance. A) revenue:; debit B) expense; debit contra asset; credit credit 15) The accountant for Hobson Electrical Repair failed to make an adjusting entry the last two weeks of the year. Which of the following statements is true? o record $5,000 of unpaid salaries for The total revenue will be overstated ByThe total revenue will be understated. ) The total expenses will be overstated D) The total expenses will be understated. 16) The financial statements are prepared from the A) adjusted trial balance chart of accounts C) statement of retained earnings D) unadjusted trial balance 17) Which of the following categories of accounts are temporary accounts that are closed at the end of the year? A) assets, labilities, and owner's withdrawals revenues, expenses, and owners withdrawals assets, liabilities, and owners equity- )revenues, expenses, and owner's equity 18) The net income of Harriet Company for the year is $25,000. The owner made withdrawals during the year of $30,000. Which of the following statements is true? Owner, Capital account decreases by $25,000. Capital account decreases by $5,000. )Owner, Capital account increases by $30,000. D) Owner, Capital will remain the same. 19) In an accounting cycle, which of the following steps takes place only at the end of the accounting period? A) start with the beginning account balances transactions that occur analyze transactions as they occur jounalize adjusting entries 3 | Page