Adjusting Entries
Closing Entries
Post Closing Trial Balance
Fin. Statements
Extra/Formatting
100
The accounts used in adjusting Pre-paid insurance
What are Insurance Expense and Pre-Paid Insurance
100
Revenues are the following
Service revenue: 5,000
Write the closing entry
Service Revenue: 5,000
Income summary 5,000
100
What are the two types of revenue and expenses?
Accrued and Deferred
100
The financial statement where you can find income
What is income statment
100
How do you format the date for an Income Statement
For Period/Year ending, Date
200
The accounts used in adjusting supplies
What are Supplies expense and Supplies?
200
Write the closing entries for expenses with the following information
Rent Expense: 500
Interest expense: 300
Advertising expense: 200
Income summary: 1000
Rent expense: 500
Interest expense: 300
Advertising expense: 200
200
I find the accounting equation on this statement
What is the Balance Sheet
200
What is my major and minor combo?
Accounting Major and Minor in Financial Services
300
What was the amount of supplies used?
X Company started with $300 of supplies bought $200 during the period. When inventory was conducted, they had 100 dollars left.
What is $400 ?
300
Dividends are 40,000
What would the closing entry look like?
Retained Earnings 40,000
Dividends 40,000
300
The two types of accounts on trial balances
Permanent and Temporary
300
This is where I find Dividends
What is the retained earnings statement?
300
How do you format the date for the retained earnings statement?
For period/year ended, date
400
What is the adjusting entry for the following statement?
xyz company bought one year of rent for 24,000 dollars on Spet 1. It is now December 31. Make the adjusting entry to update the ledger.
Rent expense: 8000
Pre-paid rent: 8,000
400
If revenue was 4,000, Expenses were 1,500, and dividends were 500, what is the balance in retained earnings? Assume that there was no previous balance.
What is $2,000
400
Which category/Type of account goes on the Post Closing Balance?
Permanent Accounts
400
What are the two types of balance sheets?
What is classified and unclassified?
400
How do you format the date for the balance sheet?
For specific date
500
The accounts use in adjusting entries normally come from which financial statements? Additionally, the account that is never used in adjusting entries.
What is Balance sheet and income statement and cash account
500
What are the Closing Journal Entries based on the following information?
Revenues: 4000
Expenses: 1500
Dividends: 1000
Revenue: 4000
Income summary: 4000
Income summary: 1500
Expenses: 1500
Income summary: 2500
Retained Earnings: 2500
Retained Earnings 1000
Dividends: 1000
500
Of the following, which are accounts that would go on the closing balance?
Accounts Receivable
Rent Expense
Unearned Revenue
Cash
Service Revenue
Accounts Receivable
Unearned Revenue
Cash
500
Which is a category found on the classified balance sheet?
Net income/Loss
Total Liabilities and Stockholder equity
Dividends
Total Dividends
What is Total Liabilities and Stockholder equity?
500
What is/are the accounting cycle/steps?
