Author Question: When merchandise that was sold is returned, a credit to sales returns and allowances is made. a. ... (Read 174 times)

stevenposner

  • Hero Member
  • *****
  • Posts: 608
When merchandise that was sold is returned, a credit to sales returns and allowances is made.
 a. True
  b. False
 
   Indicate whether the statement is true or false

Question 2

An adjusted trial balance provides ________.
 
  A) a list of accounts and their debit or credit balances after the temporary accounts have been closed
  B) a chronological record of transactions
  C) a list of financial statement line items and their debit or credit balances that is prepared before recording adjusting entries
  D) none of these



jomama

  • Sr. Member
  • ****
  • Posts: 346
Answer to Question 1

False

Answer to Question 2

D



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Approximately one in four people diagnosed with diabetes will develop foot problems. Of these, about one-third will require lower extremity amputation.

Did you know?

About 600,000 particles of skin are shed every hour by each human. If you live to age 70 years, you have shed 105 pounds of dead skin.

Did you know?

Oxytocin is recommended only for pregnancies that have a medical reason for inducing labor (such as eclampsia) and is not recommended for elective procedures or for making the birthing process more convenient.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

For a complete list of videos, visit our video library