Question: I need help with #2 and #4 (30 Points)Section I iMultiple Choice 1.Which of the following characteristics relates to both accounting relevance and Taithfhual epreeation
(30 Points)Section I iMultiple Choice 1.Which of the following characteristics relates to both accounting relevance and Taithfhual epreeation Free from error Neutrality None of the above. b. Predictive value. dComparability 2. The accrued balance in a revenue account represents an smount that is Earned Colleeted a. YesYes b. Yes No c. No Yes d. No No 3.The following accounts and balances are taken from Moore Company's adjusted trial balance Unearned Service Revenue 10,000 Accounts Receivable Accumulated Depreciation 1,)00 Depreciation Expense Dividends Utility Expense 3,300 Dev P 1,400 Interest Revenue Prepaid Expense Retained Earnings Salary Expense Service Revenue What is the ending balance in Retained Earnings after the closing entries are completed? 2,420 10,600 26,T06 39,940. b. 7,540 18,140 d 15,740. e 28,140 ),140 None of the above. 4.A company recorded credited Cash for $ 800. The correct entry would debit Accounts Payable for $ 800 and credit Cash for S 800. Is the trial balance out of balance? a cash payment incorrectly. They debited Accounts Receivable for $ 800 and a. Yes, by $800. b. Yes, by $1,600 c. No d. Yes, by an indeterminate amount. e. None of the above
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
