Which of the following situations does not require an adjusting entry at the end of May?
a. At the end of May, Bolton Industries pays the custodian for May office cleaning services.
b. On May 1, Bolton Industries paid rent for six months on its office building.
c. On May 1, Bolton Industries began delivery service to a client who will pay at the end of a three-month period.
d. On May 1, Bolton Industries purchased delivery equipment with an estimated useful life of six years.
a
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The process of rewriting the information from the journal into the ledger is called
A) sliding B) transposing C) journalizing D) posting
Which of the following is not characteristic of a corporation?
A) The financial loss that a stockholder may suffer from owning stock in a public company is limited. B) Cash dividends paid by a corporation are deductible as expenses by the corporation. C) A corporation can own property in its name. D) Corporations are required to file federal income tax returns.
The main difference between the cost of goods sold of a manufacturer and a merchandiser is that the manufacturer includes cost of goods manufactured rather than cost of goods purchased.
Answer the following statement true (T) or false (F)
What type of locks forbid any other user from accessing the data in any way?
A. Shared B. Exclusive C. Limited D. Concurrent