please see the attached file for the questions!!!!

1) Which of the following statements is not correct? a) The worksheet is the source of data for the general journal entries required to close the temporary accounts. b) In the closing process, the balance of the owner's drawing account is transferred to the debit side of the owner's capital account. c) In the closing process, the balance of the Purchases account is transferred to the Merchandise Inventory account. d) Closing the Revenue accounts is the first step in the closing process. 2) The entry to reverse the adjustment for accrued interest income consists of a debit to a) Interest Income and a credit to Income Summary. b) Interest Income and a credit to Interest Receivable. c) Interest Income and a credit to Interest Expense. d) Interest Receivable and a credit to Interest Income. 3) For the current fiscal year, Purchases were $245,000, Purchase Returns and Allowances were $8,600, Purchase Discounts were $2,200 and Freight In was $32,000. If the beginning merchandise inventory was $60,000 and the ending merchandise inventory was $75,000, the Cost of Goods Sold is: a) $266,200 b) $281,200 c) $272,800 d) $251,200 4)A reversing entry should not be made for an adjusting entry to record a) the accrued salaries. b) an accrued expense item that will involve future cash payments. c) an accrued income item that will involve future cash receipts. d) depreciation. 5) Which of the following accounts will appear on the post-closing trial balance? a) Capital b) Depreciation Expense c) Sales d) Payroll Tax Expense 6) The entry to reverse the adjusting entry for accrued payroll taxes expense includes a) a debit to Payroll Taxes Expense. b) a debit to Employee Income Tax Payable. c) a credit to Social Security Tax Payable and a credit to Medicare d) Tax Payable. d) a debit to Social Security Tax Payable and a debit to Medicare Tax Payable. 7) Current assets are usually listed on a balance sheet in order of liquidity. True False 8) At the end of the period, the balance of the Accounts Receivable account is closed to the Income Summary account. True False 9) The total of the operating expenses for the period is deducted from the gross profit on sales to determine the net income or net loss from operations. True False 10) 11) 12) 13) 14)