35-38

35. 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 proc even if it is not in balance. c. The adjusted trial balance includes the postings of the adjustments for the period in the balance ofth accounts. d. The adjusted trial balance will be used to record the adjustments for the period. 36. What effect will this adjustment have on the accounting records? Unearned Fees 6,37 Fees Earned a. increase net income b. increase revenues reported for the period c. decrease liabilities d. all of these are true 37. Accumulated Depreciation appears on the a. balance sheet in the current assets section b. balance sheet in the property, plant, and equipment section c. balance sheet in the long-term liabilities section d. income statement as an operating expense 38. Notes receivable due in 390 days appear on the a. balance sheet in the current assets section b. balance sheet in the noncurrent assets section c. balance sheet in the current liabilities section d. income statement as an expense