Regions Inc. pays its rent of $ 48,000 annually on January 1 and make s monthly adjusting entries. If the February 28 monthly adjusting entr y for prepaid rent is omitted, which of the following are true?
· Question 11 What is an advantage of using the multiple-step income statement?
· Question 12 The primary difference between accrued revenues and unearned reven ues is that accrued revenues have:
· Question 13 Dobler Company gathered the following reconciling information in pr eparing its June bank reconciliation:
Cash balance per books, 6 / 30 |
$ 8,400 |
Deposits in transit |
600 |
Notes receivable and interest collected by bank |
1,480 |
Bank charge for check printing |
50 |
Outstanding checks |
3,000 |
NSF check |
280 |
The adjusted cash balance per books on June 30 is
· Question 14 Which of the following is least likely to help a company minimize losse s as credit standards are relaxed?
· Question 15 A company usually determines the amount of supplies used during a p eriod by:
· Question 16 If a company is given credit terms of 2 / 10, n / 30, it should