- BIUab x, *' A H -- - - Painter AaBbcc AaBbc AaBbc AaBb AaBbc 1 Normal 1 No Spac... Heading 1 Heading 2 Title e Find - Replace Select- Font Dictate Paragraph Styles Editing Voice i ted 19. Hal S haped Suthepairs March of the current year. During Much, the following machios acued were recorded in the company's books 1. Smith invested 325,000 cash in the business 2. Smith contribsted $100,000 of equipment to the business 3. The company id 32.000 case to rent office space for the month 4. The company received 316,000 cash for repair services provided during March 5. The company paid 56,200 for salaries for the month 6. The company provided 33.000 of services to custom rom account 7. The company paid cash of $500 for monthly utilities 8. The company received $3,100 cash in advance of providing repair services to custom 9. Smith withdrew $5,000 for his personal use from the company Based on this information, net income for March would be: 23. Prepaid expenses, depreciation, accred examples of A Items that require con B.Items that require adjusting entries C. Asset and equity D Asset account Tacometement account up 24. An adjusting entry could be made for each of the following A Prepaid expenses B. Depreciation C O r withdrawals D Une med mennes E Accrued revenues A $10,300 B. $13.400 C 35,300 D. $8,400 E. $13.500 25. On June 30 of the current calendar year, Apricot Capad 7,300 cash fea t vices to be performed over a two-year period. Apricot follows a policy of recording all o ld pesto accounts at the time of cash payment. The a im on December 31 for Agricat ad include A. A dabit to an expense for 55.625 B. A debit to a prepaid expense for 35,625 C. A debit to an expense for $1.575 D. A debit to a prepaid expense for $1,375 E. A credit to a liability for $1,975. 20. In which of the following situations would the trial balance not balance? A. A $1,000 collection of an account receivable was erroneously posted as a debit to Accounts Receivable and a credit to Cash B. The purchase of office supplies on account for $3,250 wat erroneously recorded in the journalas 52,350 debit to Office Supplies and credit to Accounts Payable. CA 350 cash receipt for the performance of a service was not recorded at all. D. The purchase of office equipment for $1,200 was posted as a debit to Office Supplies and a credit to Cash for $1,200 E. The cash payment of a $750 account payable was posted as a debit to Accounts Payable and a debit to Cash for $750. opposite normal balance and that is morced 26. An account linked with another account that has from the balance of the related account is a Accrued expense B. Contra account C. Accrued revenge. D atangible asset E. Adjunct account 21. The 12-month period that ends when a company's sales activities are at their lowest level is called ds D'Focus - re to search OM