51) The Spelling pane checks the spelling of an entire presentation. 52) The dictionary is a research tool that provides a list of words with the same meaning. 53) When the upper half of the New Slide button is clicked, a new slide is inserted with the same layout as the previous slide. 54) The New Slide button is divided into three parts. 55) The number of slide layouts is NOT the same for each slide design. 56) You can resize an image proportionally by using the middle sizing handle. 57) .rtf is an example of a graphic file extension. […]

11) Robert Rogers, CPA, PC performed accounting services for a client in December. A bill was mailed to the client on December 30. Roberts received a check in the mail on January 5. The revenue principle would require that which of the following accounts appear on the balance sheet for December 31? A) Prepaid expense B) Accounts receivable C) Unearned revenue D) Accounts payable 12) Robert Rogers, CPA, PC owns a computer used for the corporation's business. The matching principle would require that which of the following accounts appear on the income statement for the year ended December 31? A) […]

Learning Objective 2-5 1) In a trial balance, total debits are always equal to total credits. 2) The trial balance is generally used only inside the business and is not published with the other financial statements. 3) A trial balance summarizes a ledger by listing all the accounts with their ending balances. 4) Which of the following is a method used to detect errors when the two columns of the trial balance are NOT equal? A) Compute the difference in the columns and search the trial balance for a transposition error or a slide error if the difference is evenly […]

31) Which of the following accounts will be closed by debiting the Income summary? A) Dividends  B) Service revenue  C) Accounts receivable  D) Salary expense  32) Revenues total $10,200.  Expenses total $7,300.  Dividends paid total $2,600. What is the balance in the Income summary account prior to closing net income or loss to the Retained earnings account?  A) Credit balance of $300  B) Debit balance of $2,900  C) Credit balance of $2,900  D) Balance of $0  33) Revenues total $10,200.  Expenses total $7,300. Dividends paid total $2,600.  What is the balance in the Income summary account after closing net income […]

61) What type of account is Prepaid rent and what is its normal balance? A) Expense and debit B) Liability and credit C) Revenue and credit D) Asset and debit 62) What is the term for the difference between the Equipment account and the Accumulated depreciation  account? A) Contra asset B) Market value C) Historical cost D) Book value 63) A company received $5,000 for 100 one-year subscriptions on July 1.  The journal entry to record this cash receipt would include a: A) debit to Unearned revenue. B) debit to Prepaid expenses. C) credit to Unearned revenue. D) credit to […]