Which of the following account balances would not be affected by closing journal entries? A: Retained Earnings B: Dividends C: Interest Expense D: Deferred Revenue

2: On March 1, 2014, Candy Inc. had supplies on hand of $1500. During the month, Candy purchased supplies of $2800 and used supplies of $2900. The March 31 balances sheet should report what balance in the supplies account? A: 2800 B: 2900 C: 1600 D: 1400 3: On December 31, 2011, Krug Company reported total liabilities of $105000 prior to the following adjusting entires: Depreciation Expense was $3100 Accrued Services Revenue total $ 29000 Accrued Expense totaled $12000 Expired Insurance which was prepaid totaled $9000 Rent revenue was $7000 the rent was prepaid by the tenant and credited to unearned rent revenue. How much are Krug's Liabilities after adjusting entries? A: 115000 B: 141000 C: 86000 D: 110000 5: Which of the following will result in a decrease in earnings per share? A: Buying stock shares of common stock during the year B: Receiving cash from a tenant which was recorded as unearned revenue. C: Acquiring expenses at year-end D: Accruing revenue at year-end 6: Which of the following items has no effect on retained earnings?

A: Expense B: Paying account Payable C: Dividends D: Revenue 7: A revenue generally A: Increase assets and liabilities B: Increases assets and stockholder's equity C: leaves total assets unchanged D: increases assets and decreases stockholders equity