can someone help me to solve question 1-10 ? Thanks for your help

Best 4 Chapter 1. A one-year insurance policy was purchased for $960 on July 1, 20-1. On December 31, 20-1, it had an unexpired value of $240 $480 $560 O $400 O None of the above 0 This is a required question 2. The accountant did not prepare an entry to adjust the Supplies account at the end of the accounting period. Which is the result? O The Supplies account was overstated. O The total expenses were understated. The net income was overstated. The owner's equity was overstated. O All of the above are true. 3. On the basis of the following data, what is the proper adjusting entry for June 30, the end of the fiscal year? Supplies account balance before adjustment, $1900. Supplies physical inventory on June 30, $750 Debit Supplies $750; credit Supplies Expense $750. Debit Supplies Expense $750; credit Supplies $750. O Debit Supplies Expense $1900; credit Supplies $1900. O Debit Supplies $1900; credit Supplies Expense $1900. O Debit Supplies Expense $1150; credit Supplies $1150. 4. Accumulated Depreciation is a account. contra liability contra expense contra asset contra revenue 5. Before the income Summary account is closed, a credit balance represents the total expenses for the accounting period. net loss for the accounting period. net income for the accounting period. total assets for the accounting period. 6. When all closing entries have been posted a net income will be shown on the credit side of the Drawings account. debit side of the Capital account. credit side of the Capital account. debit side of the Drawings account. 7. The net income or net loss figure shown in the Income Summary account will also appear on the income statement the trial balance the balance sheet the source document MacBook Pro 8. Which of the following accounts is not closed out at the end of the accounting period? wages expense income summary accounts receivable O drawings O Option 5 9. The last step in the basic accounting cycle is the financial statements post-closing trial balance closing journal entries adjusting journal entries 10. On April 30, Surf Inc. received an advance cash payment of $7600 for 10 months of lessons to begin June 1. The fiscal year-end is December 31st. How much money will have been earned in the current fiscal period? O 5320 O 7600 O 2280 O 4433 Back Next Never submit passwords through Google Forms. This form was created inside of York Region District School Board. Report Abuse Google Forms