Homework Answers
Answer - Option C ( is for a period of time)
Explanation-
Adjusted trial balance is always prepared after passing the adjusting entries and before making the financial statements. The reason of preparing it is to rectify errors if found and to get accurate results. As financial statements are for a period of time so the adjusted trial balance is.
* Other options are incorrect because it is not necessary to prepare adjusted trial balance on a specific date. A company can prepare it any time like quarterly, annually etc. But before making the financial statements.
* An adjusted trial balance has a date in its format in the third line ( a date for accounting period)
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The adjusted trial balance O a. is at a specific date. O b. does not have...
The adjusted trial balance 1 2 2 3 O a. is at a specific date. O...
The adjusted trial balance 1 2 2 3 O a. is at a specific date. O b. does not have a date. O c. is for a period of time. O d. None of these choices are correct. 3
What is the major difference between the unadjusted trial balance and the adjusted trial balance? a....
What is the major difference between the unadjusted trial balance and the adjusted trial balance? a. The adjusted trial balance will show the net income (loss) as an additional account. b. Unlike the adjusted trial balance, the unadjusted trial balance will continue with the end-of- period processing even if it is not in balance. c. The adjusted trial balance includes the postings of the adjustments for the period in the balance of the accounts. d. The adjusted trial balance will...
The post-closing trial balance differs from the adjusted trial balance in that it does not A....
The post-closing trial balance differs from the adjusted trial balance in that it does not A. Take into account closing entries B. Take into account adjusting entries C. Include income statement accounts D. Include balance sheet accounts
The balance sheet reports O A. a business's results of operations on a specific date. O...
The balance sheet reports O A. a business's results of operations on a specific date. O B. a business's results of operations for a specific period. O c. a business's financial position for a specific period. OD. a business's financial position on a specific date.
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.
what is the procedure for making: A-a trial balance B- unadjusted trial balance C- adjusted trial...
what is the procedure for making: A-a trial balance B- unadjusted trial balance C- adjusted trial balance D- financial statement
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...
use the following adjusted trial balance sheet for Anderesen corporation for the answers to a b...
use
the following adjusted trial balance sheet for Anderesen
corporation for the answers to a b and c
Adjusted Trial Balance For the Year Ending December 31, 2016 Debit Credit Cash $44,000 Accounts receivable 56,000 Equipment 376,000 Accumulated depreciation $72,000 Notes payable 60,000 Common stock 130,000 Retained earnings 142,000 Service fees earned 348,000 Rent expense 88,000 Salaries expense 116,000 Depreciation expense 72,000 0 Totals $752,000 $752,000 a. Based on Anderson's adjusted trial balance, Net Income for the period equals? b....
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31,...
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31, 2018 Account Title Dr. 101 Cash $ 6,500 106 Accounts receivable 28,405 153 Trucks 39,500 154 Accumulated depreciation-Trucks 15,879 183 Land 30,000 201 Accounts payable 15,145 209 Salaries payable 3,465 233 Unearned fees 2,865 307 Common stock 15,000 Retained earnings, December 31, 318 2017 47,700 319 Dividends 26,076 401 Plumbing fees earned 94,000 611 Depreciation expense-Trucks 5,293 622 Salaries expense 43,992 640 Rent expense...
13.Which of the following statements about an adjusted trial balance is not correct? A It is...
13.Which of the following statements about an adjusted trial balance is not correct? A It is prepared at the beginning of the year. B It is used to prepare financial statements. C It is prepared to ensure that total debits equals total credits D It is prepared after the adjusting journal entries have been made.
The adjusted trial balance 1 2 2 3 O a. is at a specific date. O b. does not have a date. O c. is for a period of time. O d. None of these choices are correct. 3
What is the major difference between the unadjusted trial balance and the adjusted trial balance? a. The adjusted trial balance will show the net income (loss) as an additional account. b. Unlike the adjusted trial balance, the unadjusted trial balance will continue with the end-of- period processing even if it is not in balance. c. The adjusted trial balance includes the postings of the adjustments for the period in the balance of the accounts. d. The adjusted trial balance will...
The balance sheet reports O A. a business's results of operations on a specific date. O B. a business's results of operations for a specific period. O c. a business's financial position for a specific period. OD. a business's financial position on a specific date.
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...
use
the following adjusted trial balance sheet for Anderesen
corporation for the answers to a b and c
Adjusted Trial Balance For the Year Ending December 31, 2016 Debit Credit Cash $44,000 Accounts receivable 56,000 Equipment 376,000 Accumulated depreciation $72,000 Notes payable 60,000 Common stock 130,000 Retained earnings 142,000 Service fees earned 348,000 Rent expense 88,000 Salaries expense 116,000 Depreciation expense 72,000 0 Totals $752,000 $752,000 a. Based on Anderson's adjusted trial balance, Net Income for the period equals? b....
No. Cr. . The adjusted trial balance for Zahurak Company follows. Adjusted Trial Balance December 31, 2018 Account Title Dr. 101 Cash $ 6,500 106 Accounts receivable 28,405 153 Trucks 39,500 154 Accumulated depreciation-Trucks 15,879 183 Land 30,000 201 Accounts payable 15,145 209 Salaries payable 3,465 233 Unearned fees 2,865 307 Common stock 15,000 Retained earnings, December 31, 318 2017 47,700 319 Dividends 26,076 401 Plumbing fees earned 94,000 611 Depreciation expense-Trucks 5,293 622 Salaries expense 43,992 640 Rent expense...
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