Homework Answers
Answer is C. Adjusted trial balance includes the postings of the adjustments for the period in the balance of the accounts.
Explanation:
The adjusting entries have been passed and the posted in the accounts to arrive at the revised balance of accounts which will be included in the adjusted trial balance.
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What is the major difference between the unadjusted trial balance and the adjusted trial balance? a....
1. What is the major difference between the unadjuste and the adjusted trial balance? | 1....
1. What is the major difference between the unadjuste and the adjusted trial balance? | 1. The adjusted trial balance will show the net income (loss) as an additional acce 1. Unlike the adjusted trial balance, the unadjusted trial balance will continue wit period processing even if it is not in balance. The adjusted trial balance includes the postings of the adjustments for the peric balance of the accounts. 11. The adjusted trial balance will be used to record the...
What is the difference between an adjusted trial balance and an unadjusted trial balance?
What is the difference between an adjusted trial balance and an unadjusted trial balance? (Check all that apply.) The unadjusted trial balance is more up to date and should be used to prepare financial statements. The adjusted trial balance is a list of accounts and their balances after adjusting entries have been posted. The adjusted trial balance is used to prepare financial statements. The adjusted trial balance generally has more accounts listed than the unadjusted trial balance.
Explain how an unadjusted trial balance differs from an adjusted trial balance. Explain the difference between...
Explain how an unadjusted trial balance differs from an adjusted trial balance. Explain the difference between a classified Balance Sheet and an unclassified Balance Sheet. Explain the purpose of an Income Summary account and what does its balance reflect after revenue accounts and expenses accounts have been closed out.
Explain how an unadjusted trial balance differs from an adjusted trial balance. Explain the difference between...
Explain how an unadjusted trial balance differs from an adjusted trial balance. Explain the difference between a classified Balance Sheet and an unclassified Balance Sheet. Explain the purpose of an Income Summary account and what does its balance reflect after revenue accounts and expenses accounts have been closed out.
5. Which of the following is considered to be an accrued expense? a. a computer technician...
5. Which of the following is considered to be an accrued expense? a. a computer technician has installed the latest software updates and was paid on the same day. b. a computer technician has been paid in advance to install software updates as they become available c. acomputer technician has just signed an agreement with you regarding pricing for future work d. a computer technician has installed the latest software updates, but you have not received an invoice or made...
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance...
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjusted Trial Balance Unadjusted Trial Balance Adjustments No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. 10,000 Cash $ 10,000 101 106 Accounts receivable 126 Supplies 209 Salaries payable 301 B. Wells, Capital 403 Consulting 622 Salaries expense 652 Supplies expense 3,200 4,800 5,100 $ 2,700 600 0 11,000 13,000 4,800 revenue 600...
The unadjusted trial balance of Lakota Freight Co. at March 31, 2019
The unadjusted trial balance of Lakota Freight Co. at March 31, 2019, the end of the year, follows:The data needed to determine year-end adjustments are as follows:a. Supplies on hand at March 31 are $7,500.b. Insurance premiums expired during the year are $1,800.c. Depreciation of equipment during the year is $8,350.d. Depreciation of trucks during the year is $6,200.e. Wages accrued but not paid at March 31 are $600.Instructions1. For each account listed in the trial balance, enter the balance...
The unadjusted trial balance for All Mopped Up Company, a cleaning service, is as follows:
The unadjusted trial balance for All Mopped Up Company, a cleaning service, is as follows: Additional year-end information is as follows.Requirement 2. Post the adjustments to the T-accounts opened for you, entering each adjustment by letter. Show each accounts adjusted balance. Post the adjusting entries to the T-accounts using the corresponding letters (a) through (e) as posting references. Use a "Bal" posting reference to show the ending balance of each account
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with...
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjustments Unadjusted Trial Balance Dr. Cr. 8,000 2,000 Adjusted Trial Balance Dr. Cr. Dr. Cr. $ $ 4,000 4,500 $ No. 101 106 126 209 307 318 403 2,500 400 $ 0 Account Title Cash Accounts receivable Supplies Salaries payable Common stock Retained...
Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance...
Describe the flow of accounting information from the unadjusted trial balance into the adjusted trial balance and financial statements. -what are notes receivable? -what are long term liabilities? -what is the difference between permanent and temporary accounts?
1. What is the major difference between the unadjuste and the adjusted trial balance? | 1. The adjusted trial balance will show the net income (loss) as an additional acce 1. Unlike the adjusted trial balance, the unadjusted trial balance will continue wit period processing even if it is not in balance. The adjusted trial balance includes the postings of the adjustments for the peric balance of the accounts. 11. The adjusted trial balance will be used to record the...
5. Which of the following is considered to be an accrued expense? a. a computer technician has installed the latest software updates and was paid on the same day. b. a computer technician has been paid in advance to install software updates as they become available c. acomputer technician has just signed an agreement with you regarding pricing for future work d. a computer technician has installed the latest software updates, but you have not received an invoice or made...
Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjusted Trial Balance Unadjusted Trial Balance Adjustments No. Account Title Dr. Cr. Dr. Cr. Dr. Cr. 10,000 Cash $ 10,000 101 106 Accounts receivable 126 Supplies 209 Salaries payable 301 B. Wells, Capital 403 Consulting 622 Salaries expense 652 Supplies expense 3,200 4,800 5,100 $ 2,700 600 0 11,000 13,000 4,800 revenue 600...
The unadjusted trial balance for All Mopped Up Company, a cleaning service, is as follows: Additional year-end information is as follows.Requirement 2. Post the adjustments to the T-accounts opened for you, entering each adjustment by letter. Show each accounts adjusted balance. Post the adjusting entries to the T-accounts using the corresponding letters (a) through (e) as posting references. Use a "Bal" posting reference to show the ending balance of each account
QS 3-17 (Static) Preparing an adjusted trial balance LO P5 Following are unadjusted balances along with year-end adjustments for Quinlan Company. Complete the adjusted trial balance by entering the adjusted balance for each of the following accounts. Adjustments Unadjusted Trial Balance Dr. Cr. 8,000 2,000 Adjusted Trial Balance Dr. Cr. Dr. Cr. $ $ 4,000 4,500 $ No. 101 106 126 209 307 318 403 2,500 400 $ 0 Account Title Cash Accounts receivable Supplies Salaries payable Common stock Retained...
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