On May 31,the Cash Account of Bottle's R US Had

question 162

Multiple Choice

On May 31,the Cash account of Bottle's R US had a normal balance of $5,000.During May,the account was debited for a total of $12,200 and credited for a total of $11,500.What was the balance in the Cash account at the beginning of May?

• A)A $0 balance.
• B)A $4,300 debit balance.
• C)A $4,300 credit balance.
• D)A $5,700 debit balance.
• E)A $5,700 credit balancE.Beginning Cash Balance + Debits - Credits = Ending Cash Balance

Understand and calculate accrued expenses.

Recognize the effect of adjusting entries on financial statement accounts.

Understand the concept of depreciation and its accounting treatment.

Distinguish between different types of accounts affected by adjusting entries.