What is "FS"?

Which of the items below does not appear on the work sheet?

After all of the account balances have been extended to the Income Statement columns of the work sheet, the totals of the debit and credit columns are 87,500 and 98,300, respectively. What is the amount of the net income or net loss for the period?

Which of the items below would appear in the Income Statement columns of the work sheet? 

In the worksheet, salaries payable credit balance is extended to the A. credit side of the income statement B. debit side of the income statement C. credit side of the balance sheet D. debit side of the income statement

On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would A. increase a liability account B. decrease an asset account C. decrease a revenue account D. decrease a liability account

An indication that the work sheet columns are in balance and the work sheet is completed is A. the word "Total" is written at the bottom of each pair of columns B. each pair of columns is double underlined C. each pair of columns has the totals encircled D. the final figures are written in ink

Reversing entries are made at the start of the ______________.

Which of the following accounts will not be closed to Income Summary at the end of the fiscal year? A. Salaries Expense B. Fees Earned C. Unearned Rent D. Depreciation Expense

Accumulated Depreciation appears on the A. balance sheet in the current assets section B. balance sheet in the non-current assets section C. balance sheet in the long-term liabilities section D. income statement as an operating expense

Unearned Fees appear on the A. balance sheet in the current assets section B. balance sheet as a current liability C. balance sheet in the owner's equity section D. income statement as revenue

Which of the following accounts will not be closed to Income Summary at the end of the fiscal year? A. Salaries Expense B. Fees Earned C. Unearned Rent D. Depreciation Expense

The post-closing trial balance differs from the adjusted trial balance in that it A. does not take into account closing entries B. does not take into account adjusting entries C. does not include balance sheet accounts D. does not include income statement accounts

Cash appear on the