nowing that Chloe company prepares its financial statement yearly, and supplies on hand is equal to $470, what would the adjusting entry for supplies includes at December 31, 2018: *

a-Credit Supplies $1,630

b-Credit Supplies $470

c-Debit Supplies $1,630

d-Debit Supplies $470

Knowing that Chloe company prepares its financial statement yearly, and the 5-month insurance policy was purchased on September 1, 2018, what would the adjusting entry for insurance on December 31, 2018: *

a-Debit prepaid insurance $2,000, credit insurance expense $2,000

b-Debit insurance expense $1,200, credit prepaid insurance $1,200

c-Debit insurance expense $1,600, credit prepaid insurance $1,600

d-Debit prepaid insurance $1,200, credit insurance expense $1,200

Knowing that Chloe company prepares its financial statement yearly, and the 12-month rent contract was paid on August 1, 2018, the adjusted balance for prepaid rent on December 31, 2018 would be: *

a-$2,500

b-$3,500

c-$6,000

d-$4,000

Knowing that Chloe company prepares its financial statement yearly, and the 12-month rent contract was paid on August 1, 2018, the adjusted balance for rent expense on December 31, 2018 would be: *

a-$2,500

b-$3,500

c-$6,000

d-$4,000

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

a-Debit equipment $8,000, credit depreciation expense $8,000

b-Debit depreciation expense $4,800, credit accumulated depreciation $4,800

c-Debit depreciation expense $4,000, credit accumulated depreciation $4,000

d-Debit equipment $8,800, credit depreciation expense $8,800

Knowing that Chloe company prepares its financial statement yearly, and the $20,000 equipment was purchased on March 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: *

a-$8,800

b-$4,800

c-$4,000

d-$20,000

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? *

a-Debit Cash and credit Unearned Revenue $600

b-Debit Accounts Receivable and credit Service Revenue $600

c-Debit Unearned Revenue and credit Service Revenue $60

d-None of the above

Chloe Company signed a four-month note payable in the amount of $8,000 on September 30, 2018. The note requires interest at an annual rate of 9%. The amount of interest to be accrued on December 31, 2018 is: *

a-$240

b-$540

c-$720

d-$180

On December 31, 2018, wages accrued were $3,700, the adjusted balance for salaries & wages expense on December 31, 2018 would be: *

a-$3700

b-$21,033

c-$17,333

d-$0

Chloe Company Trial Balance (partial) December 31, 2018 Debit Account Credit Cash $12,340 Supplies 2,100 Prepaid Insurance 2,000 Prepaid Rent 6,000 20,000 Equipment Accumulated Depreciation - Equipment $4,000 Accounts Payable 6,430 Notes Payable 8,000 Salaries & Wages Expense 17,333 Insurance Expense 3,800