At the End of the Year, Deltona Company Has a Preliminary

question 8

Multiple Choice

At the end of the year, Deltona Company has a preliminary debit balance in the Manufacturing overhead account of $3,950. Which of the following is the year-end adjusting entry needed to clear the balance to zero?

• A) Debit Cost of goods sold $3,950, credit Manufacturing overhead $3,950
• B) Debit Manufacturing overhead $3,950, credit Cost of goods sold
• C) Debit Work in process $3,950, credit Manufacturing overhead $3,950
• D) Debit Gross profit $3,950, credit Cost of goods sold $3,950

Identify the role and use of the QBO Check Register in managing banking transactions.

Know the appropriate actions for adjusting the Cash account when bank errors are identified.

Distinguish between recorded and unrecorded charges in bank reconciliations.

Grasp the correct procedures for recording various transactions in QBO, including bank deposits and expenses.

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