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16) which account would always have a zero balance on a post-closing trial balance? A) Supplies B) Prepaid Rent C) Accumulated Depreciation Depreciation Expense D Unearned Revenue 17) At the end of the year, Michael Scott Company reported these unadjusted balances: Interest Receivable, $4,000 and Interest Revenue, $2,000. Adjusted balances are Interest Receivable, $4,800 and interest Revenue, $2,800. The adjusting entry includes a A) Debit of $800 to Interest Revenue B) Debit of $800 to Interest Receivable C) Debit of $4,800 to Interest Revenue D) Debit of $4,800 to Interest Receivable E) Credit of $2,800 to Interest Revenue 18) At the end of the year, Dwight Schrute Farms reported these unadjusted balances: Accounts Receivable, $17,500, Unearned Revenue, $67,000; Service Revenue, $121,000. Adjusted balances are Accounts Receivable, $32,500 and Unearned Revenue, $29,500. Ending Service Revenue is: A) $121,000 B) $136,000 c) $143,500 D) $158,500 E) $173,500 Questions 19 & 20 refer to the following: On October 31, Year 1, PLL prepaid rent for two years, paying $4,800 cash. in Year 1. A) $4,800 $2,400 800 D) $600 E) $400 20) In the current asset section of the balance sheet on December 31, Year 1, the reported amount of Prepaid Rent is: A) $4,000 8) $3,800 $2,400 D) $2,000 E) $1,800 Questions 21 & 22 refer to the following: Flavius Aetius Company reported the following account balances at the end of the fiscal year (December 31, Year 4). It declared and paid cash dividends of $8,000 during the year (already debited from Retained Earnings), and issued additional stock during the year in exchange for $5,000 cash. Cash Accounts Receivable Notes $190,000 12,000 16,000 50,000 15,000 100,000 40,000 9,000 10,000 22,000 Accounts Payable Retained Eareings General and Administrativ,Expenses Common Stock Accumulated Depreciation-Equip Service Revenue 40,000 21) How many of the accounts reported above are closed to zero during the closing process A) 2 22) What is the balance of the Retained Earnings account following closing on December 31, Year 4? A) $92,000 B) $173,00D c) $181,000 D) $186,000 E) $221,000