Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

circle the letter with the best response 14. Which of the following is an adjusting entry? a. Accounts receivable is closed to reflect the amounts

circle the letter with the best response
image text in transcribed
14. Which of the following is an adjusting entry? a. Accounts receivable is closed to reflect the amounts paid during the year. b. Depreciation on automobiles is $1,000 for the year. c. Revenues are closed to reflect the revenue earned but not yet received d. Capital is closed to reflect the withdrawals during the year. Which of the following accounts is a closing entry? a. Accounts receivable is closed to reflect the amounts paid during the year. b. Salary expense is closed to reflect the salaries owed but not yet paid. c. Revenues are closed to allow an accurate account of annual revenue. d. Capital is closed to reflect the withdrawals during the year. 25. When the cash drawer is short at the end of the day, Cash Short and Over is debited and sales is credited Cash Short and Over is debited and cash is credited Sales is debited and Cash Short and Over is credited Cash is debited and Cash Short and Over is credited so

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Effective Communications

Authors: Elearn

1st Edition

1138456136, 9781138456136

More Books

Students also viewed these Accounting questions

Question

3 > O Actual direct-labour hours Standard direct-labour hours...

Answered: 1 week ago

Question

What reward policy would you suggest to the university?

Answered: 1 week ago