NO AI ANSWER A post-closing trial balance contains only_?_A) Revenue accountsB) Expense accountsC) Permanent accountsD) Temporary accounts

Concept of Post-Closing Trial Balance:The post-closing trial balance is prepared after all closing…

Answered: A post-closing trial balance contains…

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter8: Revenue Recognition, Receivables, And Advances From Customers

Section: Chapter Questions

Problem 6Q

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The adjusting entry to record an NSF check includes a credit to accounts payable a debit to vash a debit to accounts receivable a debit to miscellaneous expense
Final answer
What type of accounts are closed out at the end of the accounting period? Group of answer choices asset accounts temporary accounts doubtful accounts permanent accounts
Which of the following appears in the balance sheet accounts section of a pre-adjustment trial balance? A) Opening inventory B) Accrued expenses C) Consumable inventory D) Fixed deposit
Question: 1. Under the allowance method, Accounts recorded Uncollectible Expense is a. for an estimated amount. b. when an individual account is written off. c. for a known amount. d. several times during the accounting period.
Compu//te General Ledger: Account: Salaries Expense
Using the allowance method, the effect on the current year’s financial statements of writing off an account receivable generally is to a. Decrease total assets.b. Decrease net income.c. Both a. and b.d. Neither a. nor b.
Discussion
The entry to write off an account receivable under the allowance method willT ( A. increase total assets O B. increase net income C. reduce net income D. have no effect on net income)
2 3 1 4 5 7 8 9 10 12 Depreciation Expense Accumulated Depreciation Uneamed Revenue Services Revenue Insurance Expense Prepaid Insurance Salaries Payable Cash Prepaid Rent Cash Salaries Expense Salaries Payable Interest Receivable Interest Revenue Cash Accounts Receivable (from consulting) Cash Unearned Revenue Cash Interest Receivable Rent Expense Prepaid Rent Interest Expense Interest Payable 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 9,000 6,000 3,000 1,700 1,400 4,300 3,300 4,500 2,000 3,700 5,400 4,900 9,000 6,000 3,000 1,700
Which of the following accounts is not listed in a postclosing trial balance? a. Prepaid Rent. b. Accounts Payable. c. Salaries Expense. d. Retained Earnings.
Indicate whether each statement best describes the allowance (A) method or the direct write-off (DW)method. When an account is written off, the debit is to Bad Debts Expense.

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A post-closing trial balance contains only_?_ A) Revenue accounts B) Expense accounts C) Permanent accounts D) Temporary accounts