Accounting PAnal Other Bookmerks Return to Blackboard US Weygandt, Accounting Principles, 13e Help I System Announcements Grace Period: 7 days left I Register Now CALCULATOR PRINTER VERSON BACK NEXT Multiple Choice Question 141 Holiday Gifts signs a three-month note payable to help finance increases in inventory for the Christmas shopping season. The note is signed on November 1 in the amount of $76500 with annual interest of 8%. What is the adjusting entry to be made on December 31 for the interest expense accrued to that date, if no entries have been mader previously for the interest? Interest Expense 1530 Interest Payable 1530 O Interest Expense 1020 Notes Payable 1020 O Interest Expense 1020 1020 Cash Interest Expense 1020 1020 Interest Payable Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT SUBHIT ANSWER Question Attempts: 0 of 1 used SAVE FOR LATER com/edugen/shared/assignment/test/aglist.uni?id-asnmt22590634NT0267 Muscle M... F Federal vs. State... Single Sign-On My Institution-BL. 6 Accounting Princi.. Other Bookm Return to Blackboard US Weygandt, Accounting Principles, 13e Help I System Announcements Grace Period: 7 days left I Register I PRINTER VERSION CALCULATOR BACK NEXT Multiple Cholce Question 145 Sunland Music Store borrowed $28000 from the bank signing a 9%, 3-month note on September 1,. Principal and interest are payable to the bank on December 1. If the company prepares monthly financial statements, the adjusting entry that the company should make for interest on September 30, would be O Debit Notes Payable, $2520; Credit Cash, $2520. Debit Cash, $630; Credit Interest Payable, $630. Debit Interest Expense, $210; Credit Interest Payable, $210. Debit Interest Expense, $2520; Credit Interest Payable, $2520. Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWwER .com/edugen/shared/assignment/test/aglistaunindeasomt2259063N1027A Return to Blackboard Weygandt, Accounting Principles, 13e Help I System Announcements Grace Period: 7 days left I Register Nc PRINTER VERSION CALCULATOR BACK NEXT H Multiple Choice Question 155 Dan Justice is a lawyer who requires that his clients pay him in advance of legal services rendered. Dan routinely credits Service Revenue when his clients pay him in advance. In June Dan collected $15700 in advance fees and completed 70% of the work related to these fees. What adjusting entry is required by Dan's firm at the end of June? Unearned Service Revenue 10990 Service Revenue 10990 Cash 15700 Service Revenue 15700 Service Revenue 4710 Unearned Service Revenue 4710 O Unearned Service Revenue 4710 Service Revenue 4710 Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT Question Attempts: 0 of 1 used SAVE FOR LATER SUBMIT ANSWER aglistunibd-asnmt22590634ND0283 m/edugen/shared C MUSCIO M Federal vS. State.... Single Sign-On H My Institution-Bl... Accounting Princi.. Other Bookmg Return to Blackboard Weygandt, Accounting Principles, 13e Help I System Announcements US Grace Period: 7 days left I Register N PRINTER VERSION CALCULATOR BACK NEXT Multiple Choilce Question 158 On January 2, 2020, Concord co. purchased a general liability insurance policy for $2724 for coverage for the calendar year. The entire $2724 was charged to Insurance Expense on January 2, 2020. If the firm prepares monthly financial statements, the proper adjusting entry on January 31, 2020, will be: Prepaid Insurance 227 Insurance Expense 227 Insurance Expense 2497 2497 Prepaid Insurance OPrepaid Insurance 2497 Insurance Expense 2497 O Insurance Expense 227 227 Prepaid Insurance Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT SAVE FOR LATER SUBMIT ANSWER Question Attempts: 0 of 1 used scle M... F Federal vs. State... HSingle Sign-On . My Institution-B.. Accounting Princi... Other Bookmarks Return to Blackboard Weygandt, Accounting Principles, 13e Help I System Announcements S Grace Period: 7 days left I Register Now CALCULATOR PRINTER VERSTON BACK NEXT Multiple Choice Question 182 Bramble Cruises purchased a five-year insurance policy for its ships on April 1, 2020 for $75200. Assuming that April 1 is the effective date of the policy, the adjusting entry on December 31, 2020 is Insurance Expense 11280 Prepaid Insurance 11280 Prepaid Insurance 11280 11280 Insurance Expense O Insurance Expense 3760 3760 Prepaid Insurance 15040 Insurance Expense 15040 Prepaid Insurance Open Show Work Click if you would like to Show Work for this question: LINK TO TEXT SAVE FOR LATER SUBHIT ANSWER Question Attempts: 0 of 1 used om/edugen/shared/assignment/test/aglist.unizid-asnmt22590634N102EC Single Sign-On . Federal vs. State... HMy Institution-Bl... S Accounting Princi... Return to Blackboard LUSWeygandt, Accounting Principles, 13e Help I System Announcements Gra CALCULATOR Multiple Choice Question 186 Which of the following statements related to the adjusted trial balance is incorrect? It shows the balances of all accounts at the end of the accounting period. It is prepared before adjusting entries have been made. O It proves the equality of the total debit balances and the total credit balances in the ledger. Financial statements can be prepared directly from the adjusted trial balance. Click if you would like to Show Work for thiss question: Open Show Work LTNK TO TEXT Question Attempts: 0 of 1 used
