Which of the following is not a type of adjusting entry?
A) depreciation of long-term physical assets
B) allocation of unearned revenue
C) correction of an error in the general journal
D) recording of accrued revenue
C
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Kenilworth Inc. is shifting from its rented four-room office to a standalone office building owned by the company itself. This can be classified as a ________
A) modified rebuy B) regular buy C) straight rebuy D) new rebuy E) new task
Unit level, batch level, and service level are examples of cost drivers
Indicate whether the statement is true or false
If changes occur in the prices of the manufacturing inputs from one period to the next, then FIFO produces a more accurate unit cost than does the weighted average method
Indicate whether the statement is true or false
The Unadjusted Trial Balance columns of a company's work sheet shows the Store Supplies account with a balance of $565. The Adjustments columns shows a credit of $315 for supplies used during the period. The amount shown as Store Supplies in the Balance Sheet columns of the work sheet is:
A. $565 debit. B. $250 credit. C. $315 debit. D. $565 credit. E. $250 debit.