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can anyone help me with these questions? Month-End, Year-End, Closing, and Financial Statements If the bookkeeper failed to record an adjusting entry for depreciation of
can anyone help me with these questions? Month-End, Year-End, Closing, and Financial Statements
If the bookkeeper failed to record an adjusting entry for depreciation of the Building account, then: a. The Building account will be overstated D b. The Accumulated Depreciation, Bldg. account will be overstated c. The Income Statement will be overstated C] d. The Depreciation, Bldg. account will be overstated O e. The Liabilities account will be overstated If the Medical Supplies account has a balance of S2,OOO.OO before adjustments and S500.OO is the balance after adjustment, then: a. The Medical Supplies account was debited for Sl ,500.00 b. The Medical Supplies Expense account was debited for 51,500.00 c. The Medical Supplies Expense account was credited for $500.00 d. The Medical Supplies account was credited for $500.00 e. The Medical Supplies Expense account was debited for 5500.00 If the Salaries Expense account has a balance of S 10,000.00 before adjustments and Sl 2,000.00 balance after adjustments, then: O a. Salaries Expense was debited for 52,000.00 O b. Salaries Expense was credited for 52,000.00 CJ c. Salaries Payable wes debited for 52,000.00 CJ d. Salaries Expense was debited for $10,000.00 CJ e. Salaries Payable was credited for 510,000.00 The balance on the Prepaid Insurance account before adjustments is S36,OOO.OO. If the balance on the Prepaid Insurance account after adjustments is S30,OOO.OO, then: a. The Prepaid Insurance account was debited for 56,000.00 b. The Insurance Expense account wes credited for 56,000.00 c. The Prepaid Insurance account was debited for 530,000.00 d. The Prepaid Insurance account was credited for 56,000.00 e. The Insurance Expense account was debited for 530,000.00 If the bookkeeper failed to record an accrued Interest Income of S5,OOO.OO, then: a. Net Income is overstated O b. Net Income is understated c. Total Liabilities is overstated O d. Total Liabilities is understated e. Total Assets is overstated
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