I IVICLU UY TIVIUU...LIL UJJAIVI Done 4 of 6 Journal dostads a ociale nd post the coming s perfect D) Paratrice, join und poul 16. Which of the following is t h out the w eet B) It can provideda in acest form for pering the sing l e C) It provides a check of the quality of the des cres of the whether transaction have been fou n d posted D) Both B) and C) e correct Is the purchase of equipment treated as per the chose Why why A) No GAAP requires that 10% of the theme to wo miting des B) Yes, the matching principle requires that the cost he expand in the period of purchase c) Ne, the costcods to be located to the years of expected D) Ya, the soul life of the o w n, thus there is no ble way to allocate the cost Lola 17. 18. Neon C 5555.000 300.000 900.000 $10.000 At the end of 2009, the following data were taken from the Common Stock Retained earnings, bogining hace Juary 1, 2009 Total revenue and during 2009 Total expenses incurred during 2009 To leash collected during 2009 The 2000 closing entries would includes A) $80,000 credit to Retained ning B) SR0.000 dobit to Retained ning $90,000 debit to Retained earnings D) $90,000 credit to Retained earnings. ed 19. ABC Corp. paid $1,200 for a co-year insurance policy on October 1, 2006. If this account is not December 31, 2006, Net Income will be A) verstand by $300 B) understated by $1,200. overstand by $200. D) wderstated by $900