ACCT Ch. 4 Req Presentations

statement of stockholders' equity.

On the work sheet, the Dividends balance in the Adjusted Trial Balance Debit column will flow into the

Balance Sheet

On the work sheet, the cash balance in the Adjusted Trial Balance Debit column will flow into the

depreciation expense.

All of the following accounts will appear on the post-closing trial balance EXCEPT

retained earnings

All of the following accounts/account types are closed at the end of the accounting period EXCEPT

analyze transactions and record them in the journal.

The first step of the accounting cycle is to

a debit to Retained Earnings and a credit to Dividends.

The journal entry required to close the dividends account includes

prepare a post-closing trial balance.

The last step of the accounting cycle is to

fees earned

Which of the following accounts will NOT appear on the post-closing trial balance?

Land

Which of the following is an example of a fixed asset?

fiscal year

A business's yearly accounting period is called the

$14,400 debit

During the accounting period, Cash was debited for $4,000, $3,000, and $1,000. Cash was also credited for $3,000, $500, and $100. The beginning balance of Cash was a $10,000 debit. What is the ending balance of Cash on the post-closing trial balance?

the income statement

Revenue accounts appear on

$1,500 credit

Supplies had a beginning balance of $4,000. A physical count at the end of the accounting period revealed $2,500 supplies on hand. What adjustment amount will appear for Supplies in the Adjustments section of the end-of-period spreadsheet?

It's at the low point in the operating cycle and provides time to analyze operations and prepare financial statements.

Why do companies base their fiscal year on a natural business cycle?

The operations of the companies vary significantly throughout the fiscal year

Why should investors and others be careful in interpreting partial-year reports for companies that use the natural business year for their fiscal year?