Question

15. The adjusted trial balance combines the trial balance itemswith the adjusting entries to determine the adjusted balances.

	True
	False

references

The December 31, 2010 worksheet for Fran's Fine Dining showed thefollowing amounts related to the Supplies Expense account:
(a). In the Trial Balance debit column: $745
(b). In the Adjustments debit column: $125
(c). In the Adjusted Trial Balance debit column: $870

What is the proper balance in the Supplies Expense account onJanuary 1, 2011, after all closing entries for 2010 have beenposted, but before any 2011 transactions are recorded?

	$0.
	$745.
	$125.
	$870.

references

Which account appears on the After-Closing Trial Balance?

	Retained Earnings, Beginning of Year.
	Dividends.
	Service Revenue.
	Unearned Revenue.

references
Which statement is true about an adjusted trial balance?

	Revenue accounts and expense accounts should notappear on the adjusted trial balance.
	It is prepared before adjusting entries.
	Balance sheet items are presented before incomestatement items.
	Accumulated depreciation should equaldepreciation expense.

Which statement is true about an adjusted trial balance?

Revenue accounts and expense accounts should notappear on the adjusted trial balance.

It is prepared before adjusting entries.

Balance sheet items are presented before incomestatement items.

Accumulated depreciation should equaldepreciation expense.

23.Retained Earnings at the end of a period:

Is equal to the balance in the Retained Earningsaccount in the adjusted trial balance at the end of a period.

Appears in the income statement for theperiod.

Is equal to Retained Earnings at the beginningof the period, minus net income (or plus net loss) for theperiod.

Is determined in the statement of RetainedEarnings.


25.Dolphin Co. received $1,500 in fees during 2009, 1/3 of whichwas earned in 2010, the rest was earned when received. The companyshould report which of the following amounts as income in 2009?

	$500.
	$0.
	$1,500.
	$1,000.

reference