Question 1 (1 point)

 

What is the balance in the Interest Payable account at January 31, 2018?

Question 1 options:

$1,020.00

$0.00

$170.00

$2,040.00

$340.00

Question 2 (1 point)

 

Should an entry be made for the water & gas costs?

Question 2 options:

No, an entry is not required for the water & gas costs.

Yes but only on February 8 when the invoice is received.

Yes an entry should be made on January 31, 2018.

Yes but only on February 15 when cash is paid.

No because entries are made only when cash is paid.

Question 3 (1 point)

 

What is the balance in the Supplies Expense account for January 31, 2018?

Question 3 options:

$0

$2,100

$1,475

$700

$2,800

Question 4 (1 point)

 

What is the balance in the Bad Debt Expense account at January 31, 2018?

Question 4 options:

$12,350

$12,700

($350)

$0

$350

Question 5 (1 point)

 

What is the balance in the Wages Expense account at January 31, 2018?

Question 5 options:

$0

$75

$225

$150

$300

Question 6 (1 point)

 

What is the balance in the Prepaid Equipment Rental account at January 31, 2018?

Question 6 options:

$1,500

$7,500

$6,000

$0

$4,500

Question 7 (1 point)

 

What is the balance in the Sales Revenue account at January 31, 2018?

Question 7 options:

$39,800

$41,600

$38,000

$36,200

$39,800

Question 8 (1 point)

 

What is the balance in the Allowance For Doubtful Accounts at January 31, 2018?

Question 8 options:

($350)

$12,350

$12,700

$0

$350

Question 9 (1 point)

 

What was the amount of the interest paid on January 31, 2018?

Question 9 options:

$0.00

$340.00

$1,020.00

$2,040.00

$170.00

Question 10 (1 point)

 

What is the net value of the baking equipment at January 31, 2018?

Question 10 options:

$4,427

$12,573

$12,750

$17,000

$9,350