6.

The Unadjusted Trial Balance columns of a company's work sheet show the balance in the Office Supplies account as $900. The Adjustments columns show that $500 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:

$900 credit

$400 debit

$500 debit

$900 debit

$400 credit

7.

The following information is available for the Travis Travel Agency. After the closing entries have been journalized and posted, what will be the balance in the Retained Earnings account?

Total revenues	$132,000
Total expenses	67,000
Retained earnings	87,000
Dividends	18,500

$68,500

$152,000

$87,000

$304,500

$133,500

8.

A company's Office Supplies account shows a beginning balance of $660 and an ending balance of $430. If office supplies expense for the year is $4,000, what amount of office supplies was purchased during the period?

$4,200

$3,570

$3,770

$4,430

$4,660

9.

On January 1, Acme College received $1,440,000 in Unearned Tuition Revenue from its students for the spring semester, which spans four months beginning on January 2. What amount of tuition revenue should the college recognize on January 31?

$360,000

$1,080,000

$1,440,000

$960,000

$720,000

10.

ABC Co. leased a portion of its store to another company for eight months beginning on October 1, 2014, at a monthly rate of $900. This other company paid the entire $7,200 cash on October 1, which ABC Co. recorded as unearned revenue. The journal entry made by ABC Co. at year-end on December 31, 2014, would include:

A debit to Cash for $7,200.

A debit to Unearned Rent for $4,500.

A credit to Rent Earned for $2,700.

A debit to Rent Earned for $2,700.

A credit to Unearned Rent for $2,700.