1)Which one of the following accounts would NOT be closed at the end of the accounting year?
a)utilities expense, b)sales rev, c)prepaid rent expense, d)wages expense, e)all of the above
2)A post-closing trial balance will show account balances for the
a)real and nominal accounts, b)real accounts only, c)nominal accounts only, d)income statement accounts only, e)none of the above
3)Nominal accounts are
a)temp accounts, b)closed at the end of the accounting period, c)include income statement accounts, d)used to collect data for the current accounting period only, e)all of the above
4)On 1/1/09, Houston Co purchased a delivery truck that cost $40000. Cash of $10000 was paid, and the balance of $30000 was payable 1/31/10. The truck as estimated useful life of 4 years and 0 residual value. Considering only these facts, depreciation expense(on the truck) for '09 would be
a)10000, b)7500, c)17500, d)8750, e) none of the above
2007-07-08
15:48:43
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2 answers
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asked by
bonbon
2