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The Statement of Financial Position credit column


The Statement of Financial Position credit column Use the following data, taken from the adjusted trial balance, for 1 and 2. Debit Credit Cash € 3,712 Accounts Receivable 3,904 Supplies 480 Accounts Payable € 1,792 Unearned Revenue 160 Share Capital-ordinary 5,000 Retained Earning 760 Dividends 300 Service Revenue 4,064 Salaries Expense 1,344 Miscellaneous Expense 256 Supplies Expense 2,228 Salaries Payable 448 Total €12,224 €12,224 1. What amount will be reflected for Retained Earning in the Statement of Financial Position columns of the worksheet? a. 996 b. 760 c. 696 d. 1,060 2. What will be the total of the Statement of Financial Position credit column? a. 12,224 b. 8,160 c. 11,988 d. 8,396 3. Which of the following accounts is least likely to have its balance change on the worksheet? a. Salaries Payable. b. Supplies. c. Accumulated Depreciation. d. Sharer Capital-ordinary. 4. Which of the following permanent account is changed during the closing process? a. Share Capital-ordinary. b. Retained Earnings. c. Unearned Revenue. d. None of the above. 5. The temporary account balances ultimately wind up in what account? a. Income Summary. b. Retained Earnings. c. Share Capital-ordinary. d. Comprehensive Income. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help


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