which of the following is not considered an adjustment?is it ok to give nexgard early

Consequently, it should not be used in patients at risk for aspiration (e.g., Gastroesophageal reflux disease [GERD], obesity, diabetes, etc.) a. \end{array} Economic Sanctions and Anti-Money Laundering Developments: 2022 Year in (a) The entry to record depreciation: $3,000. The budget for the month was to sell 45 trucks at an average price of$9,500 each. b) Liabilities b. a computer technician has been paid in advance to install software updates as they become available c) Be unaffected. The concepts statements provide several examples in which specific quantitative materiality guidelines are provided to firms. A) The following information has been assembled in order to prepare the required adjusting entries at December 31: d. prepaid expenses, The adjusting entry for gym memberships earned that were previously recorded in the unearned gym memberships account is ($4,800 / 12 = $400 * 1 / 2 = $200). Considered in the past as being solely a rational being, nowadays, following specialist researches, man is also perceived as an emotional being, triggering emotions which, if appropriately . Question 6 options: a) Debit Unearned Rental Revenue $15,000 and credit Rental Revenue $15,000. d. liability, Which of the following is an example of a prepaid expense? a) On March 31, a major customer paid his bill for a consulting job completed in February. Which of the following groups are not considered a specialist by AICPA Professional Standards: A. Appraisers. answer choices Debit unearned revenue; credit revenue Debit insurance expense; credit pre-paid insurance Debit cash; credit unearned revenue Debit wages expense; credit wages payable Question 6 120 seconds Q. Income statement B. (2) The company's pays all employees up to date each Friday. Our experts can answer your tough homework and study questions. The company should make an adjusting entry: Emotional Intelligence - a Possible Predictor of Performance or Success 1) Adjusting entries help achieve the goals of accrual accounting by applying which two accounting principles? This month, the last day of the month falls on a Thursday. Explore the various types of adjusting journal entries, and examine how to do them. 20 Which of the following is not considered a basic type of adjusting Assets + Dividends + Expenses = Liabilities + Common Stock + Revenues c. Assets - Liabilities - Divide, Which of the following would be caused by recording an adjusting journal entry to recognize depreciation? .c) A credit to Child Care Fees Earned of $4,500. If the balance of supplies at the start of the month was $900 and at the end of the month you had $350 on hand, the adjustment for Supplies would be: $450. (b) An expensive private jet that can be purchased from a local vendor. Which of the following is considered to be unearned revenue? The accrual of an electricity bill for electricity used but not yet paid The recognition of depreciation expense for the period The recognition of the used and unused portions of a prepaid rent The entry to record the collection of interest receivable Expert Solution Question 14 options: c. Expenses decrease stockholders' equity. a) The entry to record depreciation. (A), [1001][1652]\left[\begin{array}{ll}1 & 0 \\ 0 & 1\end{array}\right]\left[\begin{array}{rr}-1 & 6 \\ 5 & 2\end{array}\right] d. inventory, Which account would normally not require an adjusting entry? Over the phone, a new customer thinks her dog is pregnant and asks the veterinary receptionist what the total fee will be for obstetric care. d . Assets and Liabilities B. The effect of this error is: A_____is a collection problem that requires immediate action because this individual has a balance due and has moved without leaving a forwarding address. a) The entry to record the earned portion of rent received in advance. C. Assets - Liabilities - Dividends, Identify the type of account for the following: Equipment a. [1562][1001]. Adjusting entries are necessary for the following items: Despite the fact that the ad will appear in Haute Cuisine three months after the end of Bon Appetite Caf's current fiscal year, the Caf's accountant recorded the disbursement to advertising expense. Accounts Receivable d) The entry to pay outstanding bills. a. (1) A one-year bank loan of $720,000 at an annual interest rate of 6% had been obtained on December 1. -Rental income accrued during March, tenant to pay in April: $900. b. b. an accrued liability d) Balance sheet items are presented before income statement items. A) Deferred credits B) Constructive obligations C) Equitable obligations D) Contingent liabilities, Which of the following doesn't correctly describe a journal entry which debits depreciation expense and credits accumulated depreciation? As a result of these two omissions: b) $12,800 Increase in assets b. c. debit Insurance Expense, $2,100; credit Prepaid Insurance, $2,100 a) Materiality d) Equal $9,800. The adjustment for depreciation of $3,545 was journalized as debit to Depreciation Expense for $3,454 and a credit to Accumulated Depreciation of $3,545. Suppose Dr. Milton's checking account has a balance of $3,458.92. Which of the following is not a characteristic of the accrual basis of accounting? D) An entry to convert an asset to a liability. Capital, assets c. Liability, expenses d. Assets, expenses e. Common stock, dividends, Which of the following are all temporary accounts? D. Revenue, liabilities, and capital. b) Treats as material only those items that are greater than 2% or 3% of net income. (b) The entry to record revenue earned but not yet received. d) Realization principle and matching principle. Why It Matters; 3.1 Describe Principles, Assumptions, and Concepts of Accounting and Their Relationship to Financial Statements; 3.2 Define and Describe the Expanded Accounting Equation and Its Relationship to Analyzing Transactions; 3.3 Define and Describe the Initial Steps in the Accounting Cycle; 3.4 Analyze Business Transactions Using the Accounting Equation and Show the Impact of Business . Debit Automobile $578 and credit Depreciation Expense $578. Identify whether the following item would be classified on a balance sheet as a current liability, a long term-liability or something else: Salaries payable. Hypodermis d. Nails e. Sebaceous glands. What categories capital falls in: A. These are a. assets b. liabilities c. gains d. expenses, What type of account is prepaid expense? c. accrual basis of accounting supports the matching concept (c) The entry to record the earned portion of rent received in. b. 57. 1) On the adjusted trial balance, retained earnings is: 1) The purpose of adjusting entries is to: c) Matching After recording these adjustments, net income for March is: c. revenue, asset The cash payment for accrued expenses occurs __________ the adjusting entry to record the accrued expenses. a) Income. 1) Depreciation expense is: a) An exact calculation prepared by an appraiser. Test Prep. d) Materiality. Weegy: "The total charge will depend on how many visits you make and how many tests are necessary, but the total fee from the beginning of care until the last visit is usually around $200. c) An entry to convert an asset to an expense. A debit to an expense and a credit to an asset account. a) Prepare the revenue and expense accounts for recording the revenue and expenses of the next accounting period. As time passes, fixed assets other than land lose their capacity to provide useful services. 1) Which statement is true about an adjusted trial balance? B) An entry to record revenue that has been earned but has not yet been billed to customers. The correct term for the process of transferring amounts from a book of original entry to specific assets, liabilities, revenues, expenses, and stockholders' equity items is (select, Which of the following have debit balances? C. Liabilities that are assumed when cash is also, Multiple Choice 1. Answered: Which of the following is most likely | bartleby b) Assets = Liabilities - Owners' Equity. An adjusted trial balance is prepared based on the adjusting entries. A large corporation is one having $1 million or more taxable income during any of its 3 preceding tax years. d. records revenues and expenses when the company needs to apply for a loan, By matching revenue earned during the accounting period to related incurred expenses Pages 3 Ratings 100% (13) 13 out of 13 people found this document helpful; Liability c. Equity d. Revenue e. Expense, Which one of the following represents the expanded basic accounting equation? Proof of Bachelor's Degree in Counseling, Psychology, or related field. a. income statement b. statement of changes in owner equity c. balance sheet, Which of the following groups of accounts have a normal debit balance? d) Debit Interest Expense $2,100 and credit Accrued Interest Payable $4,200. c. Salaries Payable Liability c. Equity d. Revenue e. Expense, Identify the type of account for the following: Land a. (3) On December 1, rent on the office building had been paid for four months. Human Resources Specialist at North Orange County Community College FromBalanceSheetsDec. a. the required rate of return. Employees earn a total of $12,800 per week. The cash account will always be affected by adjusting journal entries. The relationship between the nozzle height and Gantry height is considered not to change, thus leveling only one corner and the . c. accrual basis b. debit Insurance Expense, $14,000; credit Prepaid Insurance, $14,000 Your brickwall limiter settings will make or break your master. Cash, contributed capital, and retained earnings. Owners' equity will be understated. Employees earn a total of $12,800 per week. b) As a liability on the balance sheet. d. matching, The entry to adjust the accounts for salaries accrued at the end of the accounting period is Liability c. Equity d. Revenue e. Expense, Identify the type of account for the following: Legal Expense a. Borders and boundaries The boundaries of adjustment disorder are not well defined in the current classifications. Unlike entries made . d. a computer technician has installed the latest software updates, but you have not received an invoice or made payment, Which one of the accounts below would likely be included in an accrual adjusting entry? c. debit to Accounts Receivable and a credit to Wages Expense b) Expenses have normal debit balances. = 15 * 3/20 c. The chance of rolling a 3 on two dice is 1/18. The balance in the Office Equipment account is $12,360; no change has occurred in the account during the year. d) Update the owners' equity account for the changes in owners' equity that had been recorded in revenue and expense accounts throughout the period. The monthly rent is $7,000. Current assets b. a) In the period in which they are earned. c. used a. an accrued asset 1) On June 1, Norma Company signed a 12-month lease for warehouse space. d. revenues when the liability is no longer owed, Which of the following is considered to be unearned revenue? Indicate also the type of financial statement. c. a computer technician has just signed an agreement with you regarding pricing for future work d. debit Building; credit Depreciation Expense. c) It increases, Unearned revenue is what type of an account? To see how XOM's P/E ratio stacks up to its peers, refer to Google Finance's Related Companies screen. b) Midwood Consultants made payment in January for office rent for the first three months of the year. d) An overstatement of net income and an understatement of assets. \text{From Balance Sheets}&\textbf{Dec. 31, 2018}&\textbf{Dec. 31, 2017}\\[2pt] b) At the end of January, Empire Company pays the custodian for January office cleaning services. WINDOWPANE is the live-streaming app for sharing your life as it happens, without filters, editing, or anything fake. Before and after the puppies are born, each regular checkup will be $20. First created in 1917 when the U.S. was entering World War I, the debt ceiling has been raised by Congress (and occasionally the president, when authorized to do so by Congress) dozens of times since then. d. expenses are reported in the same period as the revenues to which they relate, Generally accepted accounting principles require that companies use the ____ of accounting. 1) Depreciation expense is: The report notes that the statements have been prepared in accordance with "generally accepted accounting principles." a. net income or loss will always be underestimated d. debit Supplies; credit Stockholders' Equity, Buster Industries pays weekly salaries of $30,000 on Friday for a five-day week ending on that day. Contributed capital, retained earnings, and revenues. b. Adjusting entries always affect at least one revenue or expense account and one asset or liability account. 1) Which of the following is not considered a basic type of adjusting entry? Because collecting the adjustment data requires time, the adjusting entries are often. 1) Great Kids Co. began providing day care for the children of employees of a large corporation on January 15 for an agreed monthly fee of $9,000. When considered, this factor makes the offence of human trafficking difficult to prove. Patient Billing and Collections-Chapter 18 Flashcards | Quizlet a. b. it has a) As income on the income statement. c. optional under generally accepted accounting principles b. a. checks that have a "stop payment" order. Billing the patient for services and extending credit c. The use of outside collection services d. Bartering for services Click the card to flip Flashcards Learn Test Match Created by Nedina_Shavor Teacher a) Assets of Perfect Painting are overstated at December 31, 2018. Internal auditors. A debit to an asset account and a credit to an expense account. a. historical cost B) 35. a. debit Insurance Expense, $1,800; credit Prepaid Insurance, $1,800 Indicate also the type of financial statement. b. theater tickets sold yesterday on credit for yesterday's performance the amount of the trial balance. d. Improperly expensing costs that should be capitalized. Prepare journal entries to record the sale of merchandise (omit any entry that might be required for the cost of the goods sold), the December 31, 2018 interest accrual, and the March 31, 2019 collection. d. matched, Which of the following is not a characteristic of the accrual basis of accounting? (2) The company pays all employees up to date each Friday. a. assets, liabilities, owner's equity b. assets, drawing, expenses c. assets, revenues, expenses d. assets, liabilities, revenues, Which of the following statements is true? Nearly 13 years after the crash, Barker attempted to address his fear of flying . a) The entry to record depreciation. Participants for the study were those who used a popular Web site for engaged couples. Rent expense amount b. Part 16 - Types of Contracts | Acquisition.GOV 20/3 (1) A one-year bank loan of $720,000 at an annual interest rate of 6% had been obtained on December 1. d. Expenses are a negative factor in the computation of net income. Define debit and credit and explain how assets, liabilities, common stock, retained earnings, revenues, expenses, and dividends are affected (increased or decreased) by debits and credits. January 31 falls on a Tuesday; salaries are paid on Friday of each week. Which one of the following is not considered a basic type of adjusting entry? Liability, Asset b. The central theme of 2022 was the U.S. government's deploying of its sanctions, AML . a) It is prepared before adjusting entries. c. expenses in the period when they are paid d) $900 is paid to an attorney for legal services rendered during the current year. A. expenses and assets B. assets, liabilities, and stockholders' equity C. liabilities and stockholders' equity D. assets and revenue, For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the normal balance of the account, and (3) select debit (Dr.) or credit (Cr.) What amount of interest expense has accrued on the bank loan? C) -Rental income accrued during March, tenant to pay in April: $800. Doing so: A. Violates professional standards. 1) Which of the following is not a purpose of adjusting entries? $700 Current assets b. Decrease in an asset and decrease in a liability. 1. a) An entry to accrue unpaid expenses. Vacancy code VA/2023/B5303/25590. Since December 31 fell on Tuesday, there was a liability to employees at December 31 for two day's pay. c. asset and one stockholders' equity account Identify where the following item would be reported in the financial statements. In which of the following situations would an adjusting entry be made at the end of January to record an accrued expense? Debit Depreciation Expense $578 and credit Automobile $578. Current liabilities c. Investments d. Long-term liabilities e. Property, plant, and equipment f. Which of the following is a section of the income statement? b) Realization principle Explain. Liabilities and Stockholders' Equity C. Revenues and Expenses D. Liabilities and Expenses, The adjusting entry to record an accrued expense is: a. To account for this decrease in usefulness, the cost of fixed assets is systematically allocated to expense through a process called A. Updating liability and asset accounts to their proper balances. c) The entry to declare a dividend distribution. d) $2,560, 1) Which of the following accounting principles is concerned with offsetting revenue with the expenses incurred in producing that revenue? Revenues b. Since LMA does not enter the trachea, it is less stimulating. a. asset b. liability c. equity, Which of the following uncorrected errors would result in both assets and net income being overstated? On June 30, 2018, the Esquire Company sold some merchandise to a customer for $30,000\$ 30,000$30,000. c) Expenses decrease stockholders' equity. b. earned but the cash has not been received When an automobile is being driven at vvv miles per hour, the average driver requires DDD feet of visibility to stop safely, where D=0.065v2+0.148vD=0.065 v^2+0.148 vD=0.065v2+0.148v. Once a patient's account is in the hands of a_____agency, most offices will terminate the physician-patient relationship. 5. ra - A kzs nyelvvltozattal kapcsolatos, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman, Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Don Herrmann, J. David Spiceland, Wayne Thomas, Eric W. Noreen, Peter C. Brewer, Ray H Garrison. This was the question investigated in the Journal of Experimental Social Psychology (Vol. Your aunt recently received the annual report for a company in which she has invested. Prepaid expenses are: Assets Accumulated Depreciation is: The depreciation expense recorded on an asset to date. a) Assets b) Liabilities c) Owner Equity d) Expenditures, In accounting, what is the meaning of capitalized? b. debit Gym Memberships Revenue; credit Unearned Gym Memberships Liability c. Equity d. Revenue e. Expense, Which of the following entries causes an immediate decrease in assets and stockholders' equity? \\ a. a) Before financial statements and after a trial balance has been prepared. If no adjustment is made for this item at January 31, how will Princess's financial statements be affected? b) Prepaid expenses represent assets. Answered: Which of the following is most likely | bartleby Prepaid expenses. a) Assets commonly used. d. contra asset, debit, Data for an adjusting entry described as "accrued wages, $2,020" requires a Using accrual accounting, revenue is recorded and reported only, Using accrual accounting, expenses are recorded and reported only, The accounting principle upon which deferrals and accruals are based is. If Hot Bagel Co. estimates depreciation on an automobile to be $578 for the year, the company should make the following adjusting entry: a. failure to adjust Unearned Revenue to recognize revenue earned b. failure to record depreciation for the year c. failure to accrue interest payable d, Which of the following statements best describes tax results to a shareholder in a section 351 transaction when liabilities on property transferred to the corporation are assumed by the corporation? $400 Interest Revenue a. theater tickets sold last month for yesterday's performance [1001][1562], [1652][1001]\left[\begin{array}{rr}-1 & 6 \\ 5 & 2\end{array}\right]\left[\begin{array}{ll}1 & 0 \\ 0 & 1\end{array}\right] a) Are needed whenever revenue transactions affect more than one period. The following information has been assembled in order to prepare the required adjusting entries at December 31: -is what's meant by the phrase "The domesticated generations fell Weegy: A suffix is added to the end of a word to alter its meaning. the amount expired. - Net income increases. Do nothing yet; Mr. Brown's account is current. a. still on hand A) Assets + Liabilities = Stockholder's Equity B) Assets = Liabilities + Stockholder's Equity C) Assets/Revenue = Expenses D) Liabilities + Expenses = Stockholder's Equity, Identify the term being described by the following statement: Current assets minus current liabilities. b) Consumed. D. Paid $4,000 for o, Which of the following is not considered a type of long-lived asset? What are accrual adjusting entries? | AccountingCoach Use the following excerpts from Algona Companys financial statements to determine cash received from customers in 2018. Sketch the graph of D(v)D(v)D(v). Contract level IICA-2. What is considered an adjustment to income? d. debit Dividends, $12,000; credit Cash, $12,000, The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed - Liabilities will increase. a. debit Salaries Payable; credit Cash 3D file Manual Bed Leveling Sensor3D printable model to downloadCults Which of the following situations is not considered an adjustment Chan, Which of the following transactions changes only the mix of assets and does not affect liabilities or stockholders' equity? d) A liability. \text{Accounts Receivable}&\text{\$\hspace{5pt}85,000}&\text{\$\hspace{5pt}105,000}\\[20pt] 31,2018$85,0002018700,000Dec. a. records revenues when they are earned and expenses when they are paid Office Furniture Owner withdrawals Unearned Revenu. SEJPME PRETEST Flashcards | Quizlet 1) Adjusting entries: c. The adjustment for prepaid insurance was omitted. 1) An asset purchased on January 1, 2015 for $60,000 that has an estimated life of 10 years will have a book value on December 31, 2018 of: The following table shows the undergraduate grading system used at McMaster University with the equivalent 4.0 scale. 1) Before any month-end adjustments are made, the net income of Russell Company is $38,000. C. Liabilities, Identify the type of account for the following: Prepaid Insurance a. b. Ramona's Nursery purchased playground equipment on January 1 with an estimated useful life of six years. after adjusting entries are posted but before financial statements are prepared. which of the following is not considered an adjustment? Why or why not? Which is an example of asset overstatement fraud? Which of the following is not considered a basic type of adjusting b) Crediting Wage Expense for $640 and debiting Wages Payable for $640. B) The asset-liability approach is arguably superior to the revenue-expens, Which of the following are NOT included in a postclosing trial balance? On a given Friday, the probability that Flight 277 to Chicago is on time is 23.7%. Accumulated Depreciation. a. 1) Which of the following is not an example of an adjusting entry? Assets c. Stockholders' equity d. Expenses e. Liabilities, Which of the following current asset or current liability accounts is not included in the computation of cash flows from operating activities? d) An entry to convert a liability to a revenue. d) Assets = Liabilities + Paid-in Capital + Reven. Choose from the following terms: | Throughout time (manufacturing cycle) | Sunk Cost | Differential Costs | Residual Income | Payback Method | Proje, Which of the following accounting elements does the matching principle help to match? a) Debit Interest Expense $6,300. d) Are generally made daily. b. Unearned Revenue checks that have been paid by at the bank and charged to the depositor's account. Department/office AFR, KEMCO, Kenya MCO. b. asset, debit b. A. d) $34,240. c. contra asset, credit a) $227,700. She has also heard that certain terms have special meanings in accounting relative to everyday use. a. A) Expenses are outflows or other using up of assets or incurrence of liabilities (or a combination of both) during a period from delivering or produci, Which of the following types of accounts normally have debit balances? Which of the following would not cause the adjusted trial balance totals to be unequal? Indicate whether the following account is considered an asset, a liability, a stockholders' equity, a revenue or an expense: Unearned Income. The Debt Ceiling in 2023: An In-Depth Analysis of Government Debt d) $222,900. a. b) An understatement of assets, net income, and owners' equity. a. cash basis ANSWER Correct Option is Option B. b) In the period with the higher earnings. CINCINNATI, Feb. 23, 2023 (GLOBE NEWSWIRE) -- () (the "Company" or "Hillman"), a leading provider of hardware products and merchandising solutions, reported financial resu 6, expenses can be defined by which of the following? d. theater tickets sold for next month's performance, Which of the following is an example of accrued revenue? Which of the following may not be considered a "qualifying asset" under IAS 23? b. d. snow removal services that have been provided and paid on the same day, Which of the following is considered to be an accrued expense? c) In the period in which they are paid. b. accounting income. Can any of these factors explain why XOM's P/E ratio differs from its peers? An entry to convert an asset to an expense. b) Net income will be understated and total assets will be understated. C. Engineers. a. c. contra asset c. dividend C) decreases assets and increases liabilities.

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