Author Question: Which of the following accounts would be shown on the post-closing trial balance? a. owner's ... (Read 157 times)

littleanan

  • Hero Member
  • *****
  • Posts: 575
Which of the following accounts would be shown on the post-closing trial balance?
 a. owner's drawing
   b. Rent Expense
   c. Accumulated Depreciation
   d. All of the accounts listed would be shown.

Question 2

How are revenues and expenses recognized under the accrual basis of accounting?
 
  a. Revenues are recognized when cash is received and expenses are recognized when cash is paid.
  b. Revenues and expenses are recognized equally over a twelve month period.
  c. Revenues and expenses are recognized based on the choices of management.
  d. Revenues are recognized in the accounting period when the sale is made and expenses are recognized in the period in which they relate to the sale of the product.



kishoreddi

  • Sr. Member
  • ****
  • Posts: 329
    • Your online Help in Biology and chemistry
Answer to Question 1

c

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

It is believed that the Incas used anesthesia. Evidence supports the theory that shamans chewed cocoa leaves and drilled holes into the heads of patients (letting evil spirits escape), spitting into the wounds they made. The mixture of cocaine, saliva, and resin numbed the site enough to allow hours of drilling.

Did you know?

Nitroglycerin is used to alleviate various heart-related conditions, and it is also the chief component of dynamite (but mixed in a solid clay base to stabilize it).

Did you know?

In Eastern Europe and Russia, interferon is administered intranasally in varied doses for the common cold and influenza. It is claimed that this treatment can lower the risk of infection by as much as 60–70%.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

For a complete list of videos, visit our video library