24-25 Accounting 4.03B Quizizz

Examine the worksheet, what is the Supplies balance at the start of the fiscal period?

• $4,964.00

• $ 715.00

• $1,025.00

• $310.00

Examine the worksheet, which balance indicates the Net Income?

• Income Statement Debit Column

• Income Statement Credit Column

• Trial Balance Debit Column

• Balance Sheet Debit Column

On any worksheet, which balance indicates a Net Loss?

• Income Statement Debit Column

• Income Statement Credit Column

• Trial Balance Debit Column

• Balance Sheet Debit Column

Examine the worksheet, what is the Supplies balance that will be reported on the balance sheet?

• $4,964.00

• $ 715.00

• $1,025.00

• $310.00

Examine the worksheet, what is the Prepaid Insurance that will be reported on the balance sheet?

• $4,964.00

• $ 100.00

• $1,100.00

• $1,200.00

Examine the worksheet, how did Park & Company Consulting do this month financially?

• $ 2,099 Net Income

• $ 2,099 Net Loss

• $ 1,466 Net Income

• $ 1,466 Net Loss

Beginning Supplies: $1,025.00, Supplies Consumed this month $715, Ending Supplies Balance $310

What is the correct adjusting entry for Supplies?

• Debit Supplies Expense; Credit Supplies, $715.00

• Debit Supplies; Credit Supplies Expense, $715.00

• Debit Supplies Expense; Credit Supplies, $310

• Debit Supplies; Credit Supplies Expense, $310

If a company has more revenue than expenses for the period, it has a ____.

• Net Income

• Net Loss

• A Cash Decrease

• An Accounts Payable Increase

If a company has more expenses than revenue for the period, it has a ____.

• Net Income

• Net Loss

• A Cash Decrease

• An Accounts Payable Increase

Revenues - Expenses = ?

• Net Income or Net Loss

• Owner's Equity

• Total Revenue

• Gross Profit