Which of the following accounts are closed at year end

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Don't know the answers for each question...

1,Which of the following would not appear in a post-closing trial balance?

a. Accumulated Depreciation
b. Unearned Service Fees
c. Accounts Receivable
d. Depreciation Expense

2.Accumulated Depreciation:

a. is offset against total assets on the balance sheet
b. increases on the debit side
c. is a contra-liability account
d. has a normal credit balance

3.Which of the following accounts are closed at year-end?

a.service fees
b. accumulated depreciation
c. accounts receivable
d. accounts payable

4. Which of the following accounts appears on a formal balance sheet?

a. owner's drawing
b. depreciation expense
c. unearned service fees
d. utilities expense

5 Which of the following accounts appears in a formal income statement?

a. accumulated depreciation
b. owner's drawing
c. accounts receivable
d. utilities expense

6.The balance sheet

a. shows the results of operations for a period of time
b. shows the financial position of a company at a point in time
c. shows the cash flows from operations for a period of time
d. only can show financial position when the company uses the cash basis of accounting. 

Reference no: EM131018661

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