Use the Following Account Balances from the Adjusted Trial Balance

question 54

Multiple Choice

Use the following account balances from the adjusted trial balance of ABC Consulting:

Select the correct closing entry that ABC Consulting would make to close their expense account(s) at the end of the accounting period.

• A)debit Salary Expense $2,600; debit Rent Expense $3,000; debit Supplies Expense $1,900; debit Advertising Expense $800 and credit Income Summary $8,300.
• B)debit Income Summary $8,300 and credit B. Conway, Capital for $8,300.
• C)debit B. Conway, Capital $8,300 and credit Salary Expense $2,600; credit Rent Expense $3,000; credit Supplies Expense $1,900; Advertising Expense $800.
• D)debit Income Summary $8,300 and credit Salary Expense $2,600; credit Rent Expense $3,000; credit Supplies Expense $1,900; Advertising Expense $800.

Recognize the impact of genetic inheritance on phenotypic patterns in populations.

Understand the principles behind genetic crosses and predict offspring ratios.

Identify patterns of inheritance in pedigree analysis.

Understand the legal requirements and consequences regarding security deposits in landlord-tenant relationships.

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Definitions:

Device

A device is an object or machine designed to perform a specific task or function, often used to refer to technological items or medical apparatus.

Gonorrhea

A sexually transmitted bacterial infection caused by Neisseria gonorrhoeae, affecting mucous membranes, particularly in the genital tract.

Urination

The process of excreting urine from the urinary bladder through the urethra to the outside of the body.

Discharge

The release or expulsion of a substance from a body or system, or in a legal context, the release of an individual from custody or obligation.