Need Help With Homework QUESTION 11 Adjusting entries for unearned items typically include which of the following related types of accounts Revenue and Liability accounts Revenue and Asset accounts Expense and Liability accounts Expense and Asset accounts QUESTION 12 Before making adjusting entries you should Close permanent accounts Prepare a Trial Balance Close temporary accounts Prepare a balance sheet QUESTION 13 To record adjusting journal entries in QuickBooks, select Company Center Journal Entry icon Accountant Menu Make General Journal Entries Banking section of the Home Page Journal Entry icon Company section of the Home Page Journal Entry icon QUESTION 14 The order of the steps in the accounting cycle includes Adjusted Trial Balance, financial reports, adjusting entries, Trial Balance Adjusted Trial Balance, adjusting entries, financial reports, Trial Balance Trial Balance, adjusting entries, Adjusted Trial Balance, financial reports Trial Balance, financial reports, adjusting entries, Adjusted Trial Balance QUESTION 15 To prepare the Trial Balance, select Reports Center Accountant Taxes Company Center Company Financials Reports Center Company Financials Company Center Accountant Taxes QUESTION 16 Adjusting entries for prepaid items typically include which of the following related types of accounts Revenue and Liability accounts Revenue and Asset accounts Expense and Liability accounts Expense and Asset accounts QUESTION 17 Unearned revenue occurs when Customers pay after receiving a service Customers pay in advance of receiving a service Customers default and do not pay you what is owed All of the choices are correct QUESTION 18 To print the Adjusted Trial Balance, select Reports Center Accountant Taxes Company Center Company Financials Reports Center Company Financials Company Center Accountant Taxes QUESTION 19 Sales are recorded under cash basis accounting when The goods or services are provided regardless of whether the cash is collected from the customers The bookkeeper has time to record the transactions The cash is collected from the customers The costs are incurred to earn the revenue QUESTION 20 The Trial Balance Lists all the company's accounts and ending balances Is prepared before and after making adjustments Verifies the accounting system balances All of the choices are correct

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Question: Need Help With Homework QUESTION 11 Adjusting entries for unearned items typically include which of the following related types of accounts: Revenue and Liability accounts

Need Help With Homework

QUESTION 11

Adjusting entries for unearned items typically include which of the following related types of accounts:

		Revenue and Liability accounts
		Revenue and Asset accounts
		Expense and Liability accounts
		Expense and Asset accounts

QUESTION 12

Before making adjusting entries you should:

		Close permanent accounts
		Prepare a Trial Balance
		Close temporary accounts
		Prepare a balance sheet

QUESTION 13

To record adjusting journal entries in QuickBooks, select:

		Company Center > Journal Entry icon
		Accountant Menu > Make General Journal Entries
		Banking section of the Home Page > Journal Entry icon
		Company section of the Home Page > Journal Entry icon

QUESTION 14

The order of the steps in the accounting cycle includes:

		Adjusted Trial Balance, financial reports, adjusting entries, Trial Balance
		Adjusted Trial Balance, adjusting entries, financial reports, Trial Balance
		Trial Balance, adjusting entries, Adjusted Trial Balance, financial reports
		Trial Balance, financial reports, adjusting entries, Adjusted Trial Balance

QUESTION 15

To prepare the Trial Balance, select:

		Reports Center > Accountant & Taxes
		Company Center > Company & Financials
		Reports Center > Company & Financials
		Company Center > Accountant & Taxes

QUESTION 16

Adjusting entries for prepaid items typically include which of the following related types of accounts:

		Revenue and Liability accounts
		Revenue and Asset accounts
		Expense and Liability accounts
		Expense and Asset accounts

QUESTION 17

Unearned revenue occurs when:

		Customers pay after receiving a service
		Customers pay in advance of receiving a service
		Customers default and do not pay you what is owed
		All of the choices are correct

QUESTION 18

To print the Adjusted Trial Balance, select:

		Reports Center > Accountant & Taxes
		Company Center > Company & Financials
		Reports Center > Company & Financials
		Company Center > Accountant & Taxes

QUESTION 19

Sales are recorded under cash basis accounting when:

		The goods or services are provided regardless of whether the cash is collected from the customers
		The bookkeeper has time to record the transactions
		The cash is collected from the customers
		The costs are incurred to earn the revenue

QUESTION 20

The Trial Balance:

		Lists all the company's accounts and ending balances
		Is prepared before and after making adjustments
		Verifies the accounting system balances
		All of the choices are correct

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