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Don't have to answer explain, just answer: A B C D that's all. Question 4 (Mandatory) (2.5 points) The accounting cycle requires three trial balances
Don't have to answer explain, just answer: A B C D that's all.
Question 4 (Mandatory) (2.5 points) The accounting cycle requires three trial balances be done. In what order should they be prepared? Post-closing, unadjusted, adjusted Unadjusted, post-closing, adjusted Unadjusted, adjusted, post-closing Post-closing, adjusted, unadjusted Question 5 (Mandatory) (2.5 points) Which of the following is not a general-purpose financial statement? balance sheet income statement retained earnings statement cash budget Question 23 (Mandatory) (2.5 points) Denzel Jones is the major stockholder of Crystal Cleaning Company. Recently, Denzel received $10,000 of dividends from Crystal Cleaning. After receiving the dividends, he contributed $6,000, in his name, to Habitat for Humanity. The contribution of $6,000 should be recorded on the accounting records of which of the following entities? Crystal Cleaning and Habitat for Humanity Denzel Jones' personal records and Habitat for Humanity Denzel Jones' personal records and Crystal Cleaning Denzel Jones' personal records, Crystal Cleaning, and Habitat for Humanity Question 25 (Mandatory) (2.5 points) Liabilities are reported on the O income statement retained earnings statement O statement of cash flows O balance sheet Question 26 (Mandatory) (2.5 points) Dividends paid to stockholders would appear on which statement: Balance Sheet Retained Earnings Statement Income Statement None of the above Question 32 (Mandatory) (2.5 points) On March 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at December, 31 year end, on the working trial balance would increase a liability account decrease an asset account decrease a revenue account decrease a liability account Question 35 (Mandatory) (2.5 points) Which side of the account increases a cash account? O credit O neither a debit or a credit O debit O a both a debit and a credit Question 37 (Mandatory) (2.5 points) Who among the following uses financial reports? O management O creditors O investors O all are correct Question 39 (Mandatory) (2.5 points) The Post. Ref. columns are used to trace transactions from the journal to the accounts. What will be entered in the Post. Ref. column of (a) the journal and (b) the account? (a) the amount of the debit or credit (b) the journal page number (a) the journal page number (b) the date of the transaction (a) the journal page number, (b) the account number (a) the account number, (b) the journal page number Use the information in the adjusted trial balance for Stockton Company to answer the questions that follow. Stockton Company Adjusted Trial Balance For the Year Ended December 31, 20XX $ 6,530 2,100 700 13,700 Cash Accounts Receivable Prepaid Expenses Equipment Accumulated Depreciation Accounts Payable Notes Payable Capital Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Utilities Expense Depreciation Expense Miscellaneous Expense Totals $ 1,100 1,900 4,300 2,000 10,940 790 9,250 2,500 1,960 775 250 185 $29,490 $29,490 Determine the net income (loss) for the period. Net Income $9,250 Net Loss $790 Net Loss $5,670 Net Income $3,580Step by Step Solution
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