Please answer the below question for mba 560 financial and managerial accounting.

1. The adjusting entry to record the accrual of income tax expense includes a: A.debit to income tax payable; B. credit to income tax payable; C. credit to income tax xpense; D. credit to accounts payable.

2. Surveying Company, Inc. purchased supplies during the year totaling $25,500. If the adjusted trail balance shows an ending balance in the Supplies account of $18,600, what was the amount of supplies used by Surveying Company? A. $14,900; B. $18,600; C. $6,900; D. $11,800

3. The book value of an asset at the beginning of the year was $17,000. The equipment originally cost $27,000. Depreciation expense for the year was $8,000. The book value of the asset at the end of the year is: A. $10,000; B. $17,000; C. $19,000; D. $9,000.

4. The cost of inventory that is still on hand and has not been sold to customers is called: A. inventory, a current asset that appears on the balance sheet; B. cost of goods sold, an expense that appears on the balance sheet; C. inventory, a current asset that appears on the income statement; D. purchases, an expense that appears on the income statement.

5. Which is the correct order for items to appear on the income statement? A. Sales revenue, gross profit, cost of goods sold, operating expenses; B. Sales revenue, cost of goods sold, gross profit, net income; C. Sales revenue, operating expenses, gross profit, net income; D. Sales revenue, gross profit, net income, operating expenses

6. Using a perpetual inventory system, which of the following entries would record the cost of merchandise sold on credit? A. Cost of Goods Sold Inventory; Cost of goods sold purchase discount; C. sales discount accounts payable; D. Inventory cost of goods sold

7. Alberta Company has net purchases of $75,000, purchase returns of $7,000 and purchase discounts of $4,000. Alberta's gross purchases were: A. $64,000; B. $78,000; C. $72,000; D. $86,000.

8. The specificminusunitminuscost method: A. is also known as the costminusofminusgoods sold model; B. will produce the highest net income; C. is also known as the specific identification method; D. will produce the same ending inventory as the average cost method.

9. If the cost to purchase a unit of inventory does not change, ending inventory: A. will be the highest under FIFO; B. cannot be computed using the averageminuscost method; C. will be the same under LIFO and FIFO; D. will be the highest under LIFO.

10. When comparing the FIFO and LIFO inventory methods: A. LIFO reports the most upminustominusdate inventory cost on the balance sheet; B. LIFO values inventory at the newest costs; C. FIFO matches old inventory costs against revenue; D. FIFO results in the most realistic net income figure.

11. The Bios Company purchased inventory for $75,000. It also paid freightminusin of $750, sales tax of $3,750 and insurance while the inventory was in transit of $210. The cost of the inventory is: A. $75,750; B. $78,750; C. $79,710; D. $75,000.

12. Company has a beginning inventory of $40,000 and purchases during the year of $110,000. The beginning inventory consisted of 3,000 units and 7,000 units were purchased during the year. The average cost per unit is: A. $15.00; B. $11.00; C. $15.71; D. $13.33.

13. The following data was extracted from the records of Winsam Company:

Sales revenue	450 units @ $35 per unit
Beginning inventory	100 units at $16 per unit
Purchases	400 units at $20 per unit

Winsam's most recent balance sheet showed ending inventory of $800. Which method was used for valuing inventory? A. Specific identification; B. averageminuscost; C. LIFO; D. FIFO

14. Given the following data, calculate the cost of ending inventory using the FIFO costing method.

Date	Item	Unit
1/1	Beginning inventory	30 units at $10 per unit
2/25	Purchase of inventory	15 units at $12 per unit
5/20	Purchase of inventory	25 units at $13 per unit
8/15	Purchase of inventory	20 units at $14 per unit
10/17	Purchase of inventory	25 units at $15 per unit
12/31	Ending inventory	65 units

A. $915; B. $740; C. $545; D. $720