Questions: 1. Debit entry on March 3 transaction on the loan amortization payment. 2. The debit entry on March 10 transaction. 3. The debit entry on March 13 transaction. 4. Credit entry on March 14 transaction. 5. The cash balance in the ledger. 6. The balance of Accounts Receivable account. 7. The balance of merchandise inventory account before closing entries is made. 8. Balance of the Land account. 9. Building account balance. 10.Accounts Payable balance. 11. Salaries Payable account balance before the adjusting entries. 12.Income summary balance before the closing entries. 13.Sales account balance before closing entries. 14.Sales Discounts balance after closing entries. 15. Purchases account balance before closing entries. 16.Salaries Expense account balance after adjusting entries. 17. The balance of Depreciation Expense - Building account after adjusting entries. 18. Interest Expense account balance after adjusting entries. 19. Miscellaneous Expense account balance before adjusting entries 20. The debit and credit totals of the Trial Balance. 21. Credit column total of the adjustments column on the worksheet. 22. The Income Summary amount placed on the debit column of the statement of income on the worksheet. 23. The total of the debit column of the statement of financial position on the worksheet 24.What is the effect of the adjusting entry letter A to Salaries Expense account. 25. The adjusting entry amount of letter D. 26. The date of recording for all adjusting journal entries. 27.What is the amount of net sales? 28. The amount of total operating expenses. 29. What is the amount of net income? 30. The Lerin, Capital balance after closing entries. 31. The amount of total noncurrent assets. 32. Amount of the total Assets. 33. Amount of Lerin, Capital account in the statement of financial position. 3 34. The total liabilities and capital amount. 35. The amount of the credit to income summary account in closing the accounts with credit balances and the set-up of the merchandise inventory end account 36. The amount of the debit to income summary account in closing the accounts with debit balances and the closure of the merchandise inventory beginning account. 37. The account used to close the Lerin, Withdrawals account. 38. The totals of the debit and credit columns of the post-closing trial balance. 39. The balance of Depreciation Expense-Furniture and Fixtures account after the closing entries is made. 40. The adjusting entry that requires to be reversed. Questions: 1. Debit entry on March 3 transaction on the loan amortization payment. 2. The debit entry on March 10 transaction. 3. The debit entry on March 13 transaction. 4. Credit entry on March 14 transaction. 5. The cash balance in the ledger. 6. The balance of Accounts Receivable account. 7. The balance of merchandise inventory account before closing entries is made. 8. Balance of the Land account. 9. Building account balance. 10.Accounts Payable balance. 11. Salaries Payable account balance before the adjusting entries. 12.Income summary balance before the closing entries. 13.Sales account balance before closing entries. 14.Sales Discounts balance after closing entries. 15. Purchases account balance before closing entries. 16.Salaries Expense account balance after adjusting entries. 17. The balance of Depreciation Expense - Building account after adjusting entries. 18. Interest Expense account balance after adjusting entries. 19. Miscellaneous Expense account balance before adjusting entries 20. The debit and credit totals of the Trial Balance. 21. Credit column total of the adjustments column on the worksheet. 22. The Income Summary amount placed on the debit column of the statement of income on the worksheet. 23. The total of the debit column of the statement of financial position on the worksheet 24.What is the effect of the adjusting entry letter A to Salaries Expense account. 25. The adjusting entry amount of letter D. 26. The date of recording for all adjusting journal entries. 27.What is the amount of net sales? 28. The amount of total operating expenses. 29. What is the amount of net income? 30. The Lerin, Capital balance after closing entries. 31. The amount of total noncurrent assets. 32. Amount of the total Assets. 33. Amount of Lerin, Capital account in the statement of financial position. 3 34. The total liabilities and capital amount. 35. The amount of the credit to income summary account in closing the accounts with credit balances and the set-up of the merchandise inventory end account 36. The amount of the debit to income summary account in closing the accounts with debit balances and the closure of the merchandise inventory beginning account. 37. The account used to close the Lerin, Withdrawals account. 38. The totals of the debit and credit columns of the post-closing trial balance. 39. The balance of Depreciation Expense-Furniture and Fixtures account after the closing entries is made. 40. The adjusting entry that requires to be reversed
