Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. credit to 31. adjusting entries are prepared ) ate

Credit to 31. Adjusting entries are prepared ) Ater a trial balance has been prepared...

70.2K

Verified Solution

Question

Accounting

image
Credit to 31. Adjusting entries are prepared ) Ater a trial balance has been prepared and C Aner posting but before a trial balance is prepared. D) Anytime an accountant sees fit to prepare the entries after financial statements are prepared 32. The normal balance of the Accumulated Depreciation account is A) A debit balance B) A credit balance O Either a debit balance or a credit balance. D) There is no normal balance for this account 33. Which of the following is not considered a basic type of adjusting entry? A) B) C) D) An entry to eonvert a liability to a revenue An entry to accrue unpaid expenses An entry to convert an asset to an expense. An entry to convert an asset to a liability. . Adjusting entries are needed: A) Whenever revenue is not received in cash. B) Whenever expenses are not paid in cash. C Only to correct errors in the initial recording of business transactions. ) Whenever transactions affect the revenue or expenses of more than one

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students