MCQ no need for explanation

1) Knowing that Chloe company prepares its financial statement yearly, and the $20,000 equipment was purchased on June 1, 2017 with a useful life of 4 years and $800 salvage value, the adjusted balance for accumulated depreciation on December 31, 2018 would be *

$8,800

$4,800

$2,800

$7,600

2) Chloe Company has performed $600 of Cleaning services for a client but has not billed the client as of December 31, 2018. What adjusting entry must the company prepare? *

Debit Cash and credit Unearned Revenue $600

Debit Unearned Revenue and credit Service Revenue $60

Debit Accounts Receivable and credit Service Revenue $600

None of the above

3) Chloe Company signed a six-month note payable in the amount of $4,000 on September 1, 2018. The note requires interest at an annual rate of 9%. The amount of interest to be accrued on December 31, 2018 is: *

$240

$120

$720

$180

4) On December 31, 2018, wages accrued were $5,000. The adjusted balance for salaries & wages expense on December 31, 2018 would be: *

$3700

$21,033

$22,333

$0

Chloe Company a cleaning firm, has the following account balance before adjustments on December 31, 2018 Credit Chloe Company Trial Balance (partial) December 31, 2018 Account Debit Cash $12,340 Supplies 2,100 Prepaid Insurance 2,000 Prepaid Rent 6,000 Equipment 20,000 Accumulated Depreciation - Equip Accounts Payable Notes Payable Salaries & wages Expense 17,333 Insurance Expense 3,800 $2,800 6,430 4,000