Author: Anonymous

All are true about protozoa except?

These microbes are Archaeans that cannot grow below 45 degrees C and prefer neutral pH ranges.

On April 15, a business wrote a check for $500 in payment of the electric bill, but instead of recording it as Utilities Expense, the business accidentally recorded it as Supplies Expense.  On April 30, the business realizes its error when it reviews end-of-month account balances. What is the correcting entry to correct this error?

On June 1, a business accepted a 4 month, 8% promissory note from a customer who owed $3,300 on account. On November 1, the business records the payment from the customer, which includes principal and interest.  The journal entry to record the receipt of payment from the customer includes a

Recording adjusting entries ensures the business complies with the matching principle.  Which of the following best describes the matching principle?

On July 31, a business owes $1,200 in wages to employees, but payday isn’t until August 2.  The July 31 adjusting entry to record these wages is

Included with its bank statement a business may receive a credit memorandum, which could indicate

Which of the following accounts would not appear in the Income Statement section of a worksheet?

At the start of this year rent was paid in advance for 18 months. At the year’s end, how will the adjustment affect the balance sheet?

All of the following accounts will appear on the post-closing trial balance except: