MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question 1) Adjusting entries are needed to correctly measure the A) beginning balance in the Cash account B) ending balance in the Cash account C) net income (loss) on the income statement D) net income (loss) on the balance sheet 2) TRUE FALSE. Write 'T' if the statement is true and 'F'if the statement is false. 2) On January 1, 2018, the Prepaid Insurance account of Dogwood Company had a beginning balance of $1,500. Three months of insurance premiums remain in this beginning balance. On February 21, 2018, the company paid an annual insurance premium in the amount of $3,400 for the period beginning March 1. On February 28, 2018, the balance in Prepaid Insurance is $1,000, MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question. 3) Dynamic Services Company purchased computers that are to be used in its consulting services. 3) Based on the matching principle, the related account that should appear on the income statement for the year ended December 31, 2018 is A) Depreciation Expense - Equipment B) Equipment Expense C) Accumulated Depreciation - Equipment D) Service Revenue 4). 4) Princeton Financial Services Company purchased computers that are to be used in its consulting services. Based on the matching principle, what account, other than Computers, should appear on the balance sheet as of December 31, 2018? A) Depreciation Expense - Equipment B) Accumulated Depreciation - Equipment C) Equipment Expense D) Service Revenue