26 Here is the end-of-year account balance information from the accounting records of Jaunty Coffee Company: Sales revenue Cash $10,000 Cost of goods sold $400 Accounts payable $9,000 $1,100 Capital stock $2.000 Dividends $700 Retained earnings (beginning) $1,000 Inventory $4,000 Which debitor credit would appear in the closing entries for the year? O Debit to dividends for $700. Creditta coloc munun for 10.00 27) Here are some data from a company's financial statements: Accounts payable, end of year a Dividends, during year $400 Retained earnings, beginning of year $250 Building, end of year $650 Capital stock, end of year $1,800 $450 $850 Loans payable, end of year Accounts receivable, end of year Cash, end of year Inventory, end of year $300 $200 Net income, during year $500 $100 Capital stock, end of year Loans payable, end of year $450 Accounts receivable, end of year $850 $300 Cash, end of year Inventory, end of year $200 $500 Net income, during year What is Whole Pine Inc.'s ending retained earnings balance? $100 $100 $300 $500 O $700 (28) In preparing a bank reconciliation, what is the prona outstandinn A 4 30 A company received a bank statement at the end of the month. The statement contained these items: Bank service charge for the month $1,000 Ending balance (reflects bank service charge) $268,000 In comparing the bank statement to its own cash records, the controller of the company found these items: Deposits made but not yet recorded by the bank $30,000 Checks written and mailed but not yet recorded by the bank $50,000 Before making any adjustment suggested by the bank statement, the cash balance according to the company's books is $249,000. What is the correct adjusted general ledger balance as of the end of the month? 218.00 31) The accountant for a company mistakenly posted an asset amount as an expense in the general ledger. What is the financial statement impact of this error? O Assets are too high, and retained earnings are too low. Assets are too low, and retained earnings are too low. Assets are too low, and retained earnings are too high. O Assets are too high, and retained earnings are too high. (32) Which activity is a detective control? w 2 O Proper authorizations Independent checks Dhucical control 26 Here is the end-of-year account balance information from the accounting records of Jaunty Coffee Company: Sales revenue Cash $10,000 Cost of goods sold $400 Accounts payable $9,000 $1,100 Capital stock $2.000 Dividends $700 Retained earnings (beginning) $1,000 Inventory $4,000 Which debitor credit would appear in the closing entries for the year? O Debit to dividends for $700. Creditta coloc munun for 10.00 27) Here are some data from a company's financial statements: Accounts payable, end of year a Dividends, during year $400 Retained earnings, beginning of year $250 Building, end of year $650 Capital stock, end of year $1,800 $450 $850 Loans payable, end of year Accounts receivable, end of year Cash, end of year Inventory, end of year $300 $200 Net income, during year $500 $100 Capital stock, end of year Loans payable, end of year $450 Accounts receivable, end of year $850 $300 Cash, end of year Inventory, end of year $200 $500 Net income, during year What is Whole Pine Inc.'s ending retained earnings balance? $100 $100 $300 $500 O $700 (28) In preparing a bank reconciliation, what is the prona outstandinn A 4 30 A company received a bank statement at the end of the month. The statement contained these items: Bank service charge for the month $1,000 Ending balance (reflects bank service charge) $268,000 In comparing the bank statement to its own cash records, the controller of the company found these items: Deposits made but not yet recorded by the bank $30,000 Checks written and mailed but not yet recorded by the bank $50,000 Before making any adjustment suggested by the bank statement, the cash balance according to the company's books is $249,000. What is the correct adjusted general ledger balance as of the end of the month? 218.00 31) The accountant for a company mistakenly posted an asset amount as an expense in the general ledger. What is the financial statement impact of this error? O Assets are too high, and retained earnings are too low. Assets are too low, and retained earnings are too low. Assets are too low, and retained earnings are too high. O Assets are too high, and retained earnings are too high. (32) Which activity is a detective control? w 2 O Proper authorizations Independent checks Dhucical control