Adjusting journal entries are prepared from
A) source documents.
B) the balance sheet.
C) the income statement.
D) the adjustments column of the worksheet.
12) Adjusting journal entries
A) close the ledger.
B) bring accounts up to date.
C) are recorded in the ledger.
D) are recorded before finishing the worksheet.
13) These entries are prepared and posted to the ledger in order to update the ledger accounts before the next accounting period
A) trial balance.
B) adjusting entries.
D) general journal.
14) Adjusting journal entries are
A) prepared from the worksheet, entered in the general journal, then posted.
B) prepared before the completion of the worksheet.
C) not needed if a worksheet has been completed.
D) the last step before starting the next year's transactions.
15) BC Tea Company amortization for the month is $150. The adjusting journal entry is:
A) Amortization Expense 150
Accumulated Amortization 150
B) Amortization Expense 150
Amortization Payable 150
C) Amortization Expense 150
D) Accumulated Amortization 150
Amortization Expense 150
16) Linda's Flowers purchased a two-year insurance policy for $2,400. The adjusting journal entry for one month is:
A) Insurance Expense 100
Prepaid Insurance 100
B) Prepaid Insurance 100
Insurance Expense 100
C) Insurance Expense 200
Prepaid Insurance 200
D) Prepaid Insurance 200
Insurance Expense 200
17) Ruel Records' weekly payroll of $500 is paid on Fridays. Assume that the last day of the month falls on Tuesday. Which of the following adjusting journal entries is needed on that date?
A) Accrued Salaries500
B) Salaries Expense 300
C) Salaries Expense 200
Accrued Salaries 200
D) Accrued Salaries 100
Salaries Expense 100
18) Prepaid Advertising appeared as $1,200 on the trial balance and as $1,000 on the adjusted trial balance. The proper adjusting journal entry to reflect the change is:
A) Prepaid Advertising 200
Prepaid Advertising 200
C) Advertising Expense200
D) Advertising Expense 200
Prepaid Advertising 200
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