16. Which of the following accounts should be closed to Income Summary? a. Accumulated Depreciation b. Supplies Expense c. Prepaid Expenses d. Drawings 17. Which of the following accounts ordinarily appears in the post-closing trial balance? a. Salaries Expense b. Supplies Expense c. Accumulated Depreciation d. Fees Earned

16. Which of the following accounts should be closed to Income Summary? a. Accumulated Depreciation b. Supplies Expense c. Prepaid Expenses d. Drawings 17. Which of the following accounts ordinarily appears in the post-closing trial balance? a. Salaries Expense b. Supplies Expense c. Accumulated Depreciation d. Fees Earned

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Description: this multiple choice questions from ACCOUNTING PRINCIPLES II need the final answer. 16. Which of the following accounts should be closed to Income Summary?a. Accumulated Depreciation b. Supplies Expensec. Prepaid Expensesd. Drawings17. Which of the f

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter5: Completing The Accounting Cycle

Section: Chapter Questions

Problem 14MC: Which of these accounts is included in the post-closing trial balance? A. Supplies Expense B....

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Entry 4 5 6 7 8 CO 3 2 9 1 10 Explanation Interest Expense Interest Payable Depreciation Expense Accumulated Depreciation Unearned Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Journal Entries Cash expense. Accounts Receivable (from consulting) Unearned Revenue Cash Debit 1,300 4,400 3,600 3,700 2,000 4,500 5,600 5,400 8,200 7,100 2,200 Credit 1,300 4,400 3,600 3,700 2,000 4,500 5,600 5,400 8,200 7,100
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2 3 1 4 5 7 8 9 10 12 Depreciation Expense Accumulated Depreciation Uneamed Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 9,000 6,000 3,000 1,700 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 9,000 6,000 3,000 1,700