A company's office supplies account shows a beginning

1- Based on the following information, what would be the ending balance in the Retained Earnings account, assuming all accounts have a normal balance?

Cash

$6,914

Dividends

$3,600

Accounts receivable

15,333

Consulting fees earned

15,318

Office supplies

2,785

Rent expense

3,833

Land

38,753

Salaries expense

6,802

Office equipment

16,135

Telephone expense

720

Accounts payable

6,623

Miscellaneous expense

440

Common stock

56,090

Retained Earnings

?

A- $15,318

B- $20,807

C- $15,395

D- $17,207

E- $17,284

2- Based on the following information, what would be the total on the Credit side of a post- closing trial balance, assuming all accounts have a normal balance?

Cash

$6,934

Dividends

$3,800

Accounts receivable

15,533

Consulting fees earned

15,518

Office supplies

2,805

Rent expense

3,853

Land

38,953

Salaries expense

6,822

Office equipment

16,335

Telephone expense

740

Accounts payable

6,643

Miscellaneous expense

460

Common stock

56,290

Retained Earnings

?

A- $96,235

B- $78,451

C- $62,776

D- $87,203

E- $80,560

3- A company had revenue of $568,000, rent expense of $109,000, utility expense of $10,900, salary expense of $134,500, depreciation expense of $39,900, advertising expense of $41,100, dividends in the amount of $192,000, and an ending balance in retained earnings of $411,300. What is the beginning retained earnings for the period?

A- $261,700

B- $335,400

C- $370,700

D- $376,000

E- $232,600

4- A company had service revenue of $252,000, rent expense of $10,200, utility expense of $3,700, salary expense of $18,700, depreciation expense of $9,200, advertising expense of $4,520, dividends in the amount of $18,200, and a beginning balance in retained earnings of $18,100. What is the balance in the income summary account before it is closed for the period?

A- $$233,900

B- $252,000

C- $$223,780

D- $$46,320

E- $$205,680

5- On January 1, Able Company purchased equipment costing $138,600 with an estimated salvage value of $12,300, and an estimated useful life of five years. Using the straight-line method, what is the amount that should be recorded as depreciation on December 31?

A- $25,260

B- $138,600

C- $30,180

D- $27,720

E- $12,300

6 - The Unadjusted Trial Balance columns of a company's work sheet show the balance in the Office Supplies account as $800. The Adjustments columns show that $450 of these supplies were used during the period. The amount shown as Office Supplies in the Balance Sheet columns of the work sheet is:

A- $350 debit

B- $350 credit

C- $800 credit

D- $450 debit

E- $800 debit

7- The following information is available for the Travis Travel Agency. After the closing entries have been journalized and posted, what will be the balance in the Retained Earnings account?

Total revenues

$137,000

Total expenses

72,000

Retained earnings

92,000

Dividends

21,000

A- $92,000

B- $157,000

C- $322,000

D- $71,000

E- $136,000

8- A company's Office Supplies account shows a beginning balance of $760 and an ending balance of $480. If office supplies expense for the year is $5,500, what amount of office supplies was purchased during the period?

A- $5,020

B- $5,220

C- $5,980

D- $6,260

E- $5,700

9- On January 1, Acme College received $1,620,000 in Unearned Tuition Revenue from its students for the spring semester, which spans four months beginning on January 2. What amount of tuition revenue should the college recognize on January 31?

A- $810,000

B- $1,620,000

C- $1,215,000

D- $1,080,000

E- $405,000

10- ABC Co. leased a portion of its store to another company for eight months beginning on October 1, 2014, at a monthly rate of $1,300. This other company paid the entire $10,400 cash on October 1, which ABC Co. recorded as unearned revenue. The journal entry made by ABC Co. at year-end on December 31, 2014, would include:

A- A credit to Unearned Rent for $3,900.

B- A debit to Cash for $10,400.

C- A credit to Rent Earned for $3,900.

D- A debit to Rent Earned for $3,900.

E- A debit to Unearned Rent for $6,500.