- After which of the following errors would the adjusted trial balance totalsnotagree?
The adjustment for depreciation was omitted.
A debit to Accounts Receivable was inadvertently posted as a debit to Accounts Payable.
Supplies were miscounted and adjusted for the wrong amount.
A debit to Accounts Receivable was inadvertently posted as a credit to Accounts Payable.
The adjusted trial balance
is at a specific date. does not have a date. None of these choices are correct. is for a period of time.
-Which of the following would not cause the adjusted trial balance totals to be unequal?
The adjustment for accrued fees of $16,340 was journalized as a debit to Accounts Payable for $16,430 and a credit to Fees Earned $16,340.
The adjustment for depreciation of $3,545 was journalized as debit to Depreciation Expense for $3,454 and a credit to Accumulated Depreciation of $3,545.
None of these.
The adjustment for prepaid insurance was omitted.
-In the vertical analysis of an income statement?
each item is stated as a percent of total expenses.
each item is stated as a percent of revenues or fees earned.each item is stated as a percent of change from the previous period's statement.
total revenues are stated as a percent of stockholders' equity.
-The following are line items from the vertical analysis of an income statement:
Amount Percent
Total revenues $600 300%
Total expenses 400 200
Net income $200 100%
What needs to be changed on the statement?
Total revenues should be the base expressed as 100%.
The percentage for net income should 25%.
None of these changes should be made.
The percentage for total expenses should be 33%.