Which of the following accounts will have an amount in the Adjustments columns of the work sheet but probably not in the Trial Balance columns?
a. Common Stock
b. Utilities Expense
c. Depreciation Expense–Machinery
d. Revenue from Services
C
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Which of the following would not be entered when a cash receipt is recorded in the cash receipts journal?
a. the date; b. the amount of credit to Cash; c. the amount of sales tax payable; d. the amount of credit to Accounts Receivable; e. all of these would be entered
______ speaking requires you to be able to think on your feet.
Fill in the blank(s) with the appropriate word(s).
Gross profit is the difference between:
A. sales revenue and costs of goods sold. B. total sales and manufacturing cost. C. sales revenue and fixed costs of the salesperson. D. net profit and transportation cost. E. sales revenue and costs of goods sold including taxes.
The degree of operating leverage can be explained by using the following 2 variables : sales and
earnings per share. Indicate whether the statement is true or false