Solved: Which Of The Following Pairs Of Accounts Could Not

Which of the following entries could not possibly be a correct adjusting journal entry? A. Rent Expense 5,000 Rent Payable 5,000 B. Accounts Receivable 5,000 Service Revenue 5,000 C. Interest Expense 5,000 Interest Revenue 5,000 D. Unearned Revenue 5,000 Service Revenue 5,000 12. A company declared cash dividends of $0.20 per share.Which of the following pairs of accounts could not appear in the same adjusting entry? The proper adjusting entry if the amount of supplies on hand at the end of the year is $4,500 would be debit Supplies expense $4,500, credit Supplies $4,500 Which of the following is the proper adjusting entry at year end on Dec. 31, for wages accruedwhich of the following pairs of accounts could not be included in the same adjusting entry? a) prepaid rent and rent payable. b) salaries expense and salaries payable. c) interest payable and interest expense. d) office supplies expense and office supplies. e) revenue from services and unearned revenueIf you granted the discount, you could post an adjusting journal entry to reduce accounts receivable and revenue by $250 (5% of $5,000). Making adjusting entries is a way to stick to the matching principle—a principle in accounting that says expenses should be recorded in the same accounting period as revenue related to that expense.Interest Income is like a revenue and Interest Payable are both a postive Credited account. You can't have these two in the same adjusting entry since they will not balance out your A = L + OE...

Accounting Test 2 Flashcards | Quizlet

Which of the following pairs of accounts could not be included in the same adjusting entry? A. Interest Payable and Interest expense. B. salaries Expense and Salaries Payable. C. Prepaid rent and rent payable. D. Revenue from services C. Prepaid rent and Rent Payable Which of the following is not a temporary account? a. Interest Income b.The adjusting entry under the income method is: Dr Income account Cr Unearned revenue account for the amount not yet earned. Accrual Concept of Accounting Let's start by noting that under the accrual concept, income is recognized when earned regardless of when it is collected.Employees worked three days the following week, but would not be paid for this time until January 9, 20X9. As of the end of the accounting period, the company owes employees $3,000 (pertaining to December 29, 30, and 31). As a result, the adjusting entry to record the accrued payroll would appear as follows:1.) which of the following accounts are involved in the adjusting entry? (a) asset (b) liability (c) revenue (d) expense 2. for the accounts selected, indicate whether they would be debited or credited in the entry. An _____ is debited and _____ is credited.

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Accounts Receivable is an asset account, while Accounts Payable is a liability account. These two accounts are also never affected during the adjustment process.A closing entry is a journal entry made at the end of the accounting period. It involves shifting data from temporary accounts on the income statement to permanent accounts on the balance sheet.When bad debts occurred, the following entry would have been passed: Bad Debts A/c Dr. 3,500/- To Sundry Debtors A/c 3,500/- Since provision for bad debts to the extent of Rs. 5,000/- already exists, the actual bad debts of Rs. 3,500/- will be transferred at the end of the year to this provision account and not to the profit and loss account.Which of the following pairs of accounts could not be included in the same adjusting entry? A. Unearned Revenue and Revenue from Services . B. Wages Expense and Wages Payable . C. Interest Expense and Interest Receivable . D. Rent Expense and Rent Payable. Answer Save. 1 Answer. Relevance.What Pairs of accounts could not appear in the same adjusting entry? if they are not adjusting properly change the springs and the self adjusting cams could be seized up, kia calls them rear

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