he adjusting entry to record the earned but unpaid salaries of employees at the end of an accounting period is:  Group of answer choices Debit Salaries Expense and credit Cash. Debit Unpaid Salaries and credit Salaries Payable. Debit Salaries Expense and credit Salaries Payable. Debit Salaries Payable and credit Salaries Expense.

Account Titles and Explanation Accounts Receivable Service Revenue (To record service revenue not yet billed to customers) Supplies Expense Supplies (To record supplies expense) Insurance Expense Prepald Insurance (To recognize insurance expense expired) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation for the period) Salarles and Wages Expense Salarles and Wages Payable (To record salaries payable) Unearned Service Revenue Service Revenue (To record service revenue earned with prior payment) Unearned Rent Revenue Rent Revenue (To record rent revenue earned with prior payment) Debit 2,175 1,875 4,350 1,740 4,500 1,025 1,575 Credit 2,175 1,875 4,350 1,740 4,500 1,025 1,575

When all expense accounts are closed, what account is debited?         Each expense         Income Summary         Owners Withdrawal account         Owners Capital account

The Journal entry to update the accounts for customer subscriptions that are prepaid but not yet earned is which of the following types of adjusting entries? Multiple Choice O Prepaid item Unearned Revenue Accrued Expense Accrued Revenue Not an adjusting entry

Under the direct write-off method, uncollectible accounts expense is recognized Multiple Choice O ① in an adjusting entry at the end of the accounting period. when an account is determined to be uncollectible. when the allowance account has a zero balance. in a closing entry at the end of the accounting period.

Which accounts appear in a company’s after-closing trialbalance? How do these accounts differ from those reportedin an adjusted trial balance?

Which of the following is true regarding adjusting entries?   a.Adjusting entries are optional with accrual-basis accounting. b.Adjusting entries are dated as of the first day of the new accounting period. c.Adjusting entries are not posted to the ledger. d.Adjusting entries are usually recorded after the end of the period but are dated as of the last day of the period.

Which of the following is true regarding adjusting entries? O a. Adjusting entries are dated as of the first day of the new accounting period. O b. Adjusting entries are not posted to the ledger. O c. Adjusting entries are usually recorded after the end of the period but are dated as of the last day of the period. O d. Adjusting entries are optional with accrual-basis accounting.

Which of the following represents an external transaction? a. Lapse of insurance due to passage of time.b. Use of office supplies by employees over time.c. Payment of utility bill.d. Salaries earned by employees but not yet paid.

GIVE A DETAILED ANSWER  Describe the effect on the financial statements when an adjustment is prepared that records (a) unrecorded revenue and (b) unrecorded expense. On the basis of what you have learned about adjustments, why do you think that adjusting entries are made on the last day of the accounting period rather than at several times during the accounting period?