MULTIPLE CHOICE. Choose the certive that bespletes the water 31) The main purpose of using resiste Al Recognis ed during the B) Recopine expenses and during the period C) A t the D) Rocondemanas de E) Rosmale t he33 h e the 2) The principle the expense be that we can see the Al Mungil 3) Recole CC Dicle EC Which of the following Al have been recorded B) A ng Cependencies d the created a Dependine pre E) All of these these yearthe d 250 worth of worth of office ople wand H C ASSOS A news Al Wahehe he BA Cec on the sing the w a y the end of each med Al Ghade es B Serveranser the other the proper equity Wallanese with the Dhe them e All of the The mining balance a incepe d is the required t o A) SO SES December 31, 2 1200 was for e fecto My 1.2000 Wh December S O 40) 40) On December 1, your company paid its insurance agent $2,400 for the annual insurance premium covering the twelve-month period beginning on December 1. The $2,400 payment was recorded on December 1 with a debit to the income statement account Insurance Expense and a credit to the current asset Cash. Your company prepares monthly financial statements at the end of each calendar month. The entry to be made at the December 31 month end to adjust the accounts is A) Debit Prepaid insurance 2200; Credit Insurance Expense 2200 B) Debit Insurance Expense 2200; Credit Prepaid Insurance 2200 C) Debit Prepaid Insurance 200; Credit Insurance Expense 200 D) Debit Insurance Expense 200; Credit Prepaid Insurance 200 E) Debit Insurance Expense 2400; Credit Prepaid Insurance 2400 41) 41) An adjusting entry was made on December 31, 2020, to accrue salaries expense of $1,200. Which of the following entries would be prepared to record the next payment of salaries, on January 5, 2021, in the amount of $3,000? A) Salaries Payable 3,000 Cash 3.000 Salaries Payable Salaries Expense Cash 1,200 1,800 3,000 3,000 Salaries Expense Cash 3.000 Salaries Payable ries Payable Cash 1.200 1,200 1,200 1,200 Salaries Expense Salaries Payable 1,200 42) January 31 of this year, Gallery Coryd d in employees. Ondruary I the company pie Contoumal wies at January 31 and Fchy 13 w edi (140) for ces of 700 The 42) Man 9 Salaries Salaries Payable Das Salaries Payable FE AP FB Sales Dana Expre Salaris Payable Feb 13 Salaries Exp Salais Payable Dan Salaries F 3 Sales Facial data for the Grow Company's prepaid inime s ed TP Bal L 3103 Bale De A) SIKO S. 500 DSIR 300 ESIT 100 4) Uncanned is reported the financial A)Ancamere the same ) A R o hane sheet An opening tivity on the watement of cash flows Di Abby on the balance sheet E n on the balance sheet
