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Which of the following pairs of accounts could not appear in the same adjusting entry? Salaries Payable and Salaries Expense Interest Income and Interest Expense Fees Earned and Unearned Fees Rent Expense and Prepaid Rent On which financial statement will Income Summary be shown? no financial statement retained earnings statement balance sheet income statement For the Year Ended December 31 Income Statement Balance Sheet Adjusted Trial Balance Account Title Debit Credit Debit Credit Debit Credit 48,000 48,000 18,000 6,000 57,000 18,000 6,000 57,000 18,000 18,000 Cash Accounts Receivable Supplies Equipment Accumulated Depr. Accounts Payable Wages Payable Common Stock Retained Earnings Dividends 25,000 25,000 6,000 6,000 30,000 30,000 3,000 3,000 3,000 3,000 Fees Earned 155,000 155,000 25,000 25,000 6,000 6,000 30,000 30,000 3,000 3,000 3,000 3,000 Payable Wages Payable Common Stock Retained Earnings Dividends Fees Earned Wages Expense Rent Expense Depreciation Expense Totals Net Income (Loss) 155,000 155,000 63,000 27,000 63,000 27,000 15,000 15,000 237,000 237,000 105,000 155,000 132,000 82,000 50,000 50,000 155,000 155,000 132,000 132,000 The ending balance of retained earnings is $3,000 $53,000 $50,000 $47,000 Accumulated Depreciation and Depreciation Expense are classified, respectively, as asset, contra liability contra asset, expense expense, contra asset revenue, asset The type of account and normal balance of Unearned Consulting Fees is expense, debit liability, credit revenue, credit liability, debit Which of the following is the proper adjusting entry, based on a prepaid insurance account balance before adjustment of $15,721 and unexpired insurance of $4,240, for the fiscal year ending on April 30? debit Insurance Expense, $15,721; credit Prepaid Insurance, $15,721 debit Insurance Expense, $11,481; credit Prepaid Insurance, $11,481 debit Prepaid Insurance, $15,721; credit Insurance Expense, $15,721 debit Prepaid Insurance, $11,481; credit Insurance Expense, $11,481 Smokey Company purchases a one-year insurance policy on July 1 for $13,440. The adjusting entry on December 31 is debit Insurance Expense, $6,720 and credit Prepaid Insurance, $6,720 debit Prepaid Insurance, $12,320 and credit Cash, $12,320 debit Insurance Expense, $13,440 and credit Prepaid Insurance, $13,440 X debit Insurance Expense, $1,120 and credit Prepaid Insurance, $13,440 Stockton Company Adjusted Trial Balance December 31 Cash 6,643 Accounts Receivable 2,574 Prepaid Expenses 600 Equipment 13,710 Accumulated Depreciation 4,523 Accounts Payable 1,525 Votes Payable 4,343 Common Stock 1,000 Retained Earnings 9,454 Dividends 847 Fees Earned 8,272 3,355 712 Nages Expense Rent Expense Utilities Expense Depreciation Expense 341 269 iscellaneous Expense 66 Totals 29,117 29,117 etermine the retained earnings ending balance. $10,454 $12,136 $29,117 $3,529