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AG Name: 14. What effect will this adjustment have on the counting to Unearned Revenge...

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Accounting

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AG Name: 14. What effect will this adjustment have on the counting to Unearned Revenge Fees camed a. b. c. d. Increase net income Increase revenues reported for the period Decrease liabilities All of these are true. m The net income reported on the income statement is 558,000. However, adjusting entries at the end of the period for supplies expense of $2,200 and scrued salaries of $1.300 N corrected, is a. $56,700 b. $58,000 c. $55,800 d. $54,500 16. Which of the accounts below would be closed by posting a debit to the account? a. Unearned Revenue b. Fees Eamed c. Josh Morton, Drawing d. Miscellaneous Expense The post-closing trial balance differs from the adjusted trial balance in that it a. does not take into account closing entries b. does not take into account adjusting entries c. does not include balance sheet accounts d does not include income statement accounts

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