Reference no: EM131018661
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.