If Sven Company pays employees each Wednesday for the weekly pay period ending the previous Friday, and an entry is made each Friday to accrue the payroll for that week, the journal entry to record on payday (Wednesday) would involve a debit to:

a)

Wage Expense.

b)

Wages Payable.

c)

Cash.

d)

Cash Expense.

e)

None of these.

On August 1, supplies were purchased. Supplies were debited and Accounts Payable credited for $2,500. $700 of these supplies were on hand at the end of August. The entry to adjust the supplies account as of August 31:

a)

requires a debit to Supplies for $700.

b)

requires a credit to Supplies for $1,800.

c)

requires a debit to Supplies for $2,200.

d)

requires a credit to Accounts Payable for $1,500.

e)

None of these.

Which of the following would not require an adjusting journal entry at the end of an accounting period?

a)

Multiperiod costs that must be split among two or more accounting periods.

b)

Expenses incurred in a given period but not as yet recorded in the accounts.

c)

Cash received for services provided.

d)

Revenues earned in a given period but not as yet recorded in the accounts.

e)

None of these.

Which of the following accounts will not appear in a post-closing trial balance?

a)

Cash.

b)

Accumulated Depreciation.

c)

Retained Earnings.

d)

Utility Expense

e)

None of these.