Posted: July 19th, 2016

Which of these account balances will not appear the same on the balance sheet?

9. Unearned revenues are:

received and recorded as liabilities before they are earned.

earned and recorded as liabilities before they are received.

earned but not yet received or recorded.

earned and already received and recorded.

10. Adjusting entries affect at least:

one revenue and one expense account.

one asset and one liability account.

one revenue and one balance sheet account.

one income statement account and one balance sheet account.

11. At March 1, 2011, Candy Inc. had supplies on hand of $1,500. During the month, Candy purchased supplies of $2,900 and used supplies of $1,800. The March 31 balance sheet should report what balance in the supplies account?

$1,500

$2,600

$1,800

$2,900

12. The following accounts show balances on the adjusted trial balance. Which of these account balances will not appear the same on the balance sheet?

Retained earnings

Accounts receivable

Common stock

Notes payable