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Which of the accounts could appear in an adjusting entry

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Reference no: EM133007095

Problem 1: Which of the following accounts could appear in an adjusting entry, closing entry and reversing entry?

a. Interest Income

b. Salaries Payable

c. Depreciation Expense-Buildings

d. Accumulated Depreciation-Buildings

Problem 2: When an entity has earned a profit, the profit amount is entered on the work sheet on the

a. debit side of the Income Statement columns and the credit side of the Balance Sheet columns.

b. credit side of the Income Statement columns and the debit side of the Balance Sheet columns.

c. debit side of both the Income Statement and the Balance Sheet columns.

d. credit side of both the Income Statement and the Balance Sheet columns.

Reference no: EM133007095

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