T 19.A liability—revenue account relationship exists with an unearned rent revenue adjustingentry.20.The balances of the Depreciation Expense and the Accumulated Depreciation accountsshould always be the same.
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21.Unearned revenue is a prepayment that requires an adjusting entry when services are
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performed.T 22.Asset prepayments become expenses when they expire.23.A contra asset account is subtracted from a related account in the balance sheet.
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F 24.If prepaid costs are initially recorded as an asset, no adjusting entries will be required inthe future.
CHAPTER 3
ADJUSTING THE ACCOUNTS
SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM’S TAXONOMY
Item SO BT Item SO BT Item SO BT Item SO BT Item SO BT
True-False Statements
1. 1 C 9. 2 C17.5 C25.5K sg33. 3K
2. 1 K 10. 2 K 18.5 K 26.6 K sg34. 5 K
3. 1 K 11. 3 C 19.5 C 27.7 K sg35. 6 K
4. 1 C 12. 3 K 20.5 C a28.8 C sg36. 7 K
5. 1 K 13. 3 K 21.5 C a29.8 C
sg,a37. 8 C
6. 2 C 14. 3 K 22.5 K a30.8 C
7. 2 K 15. 4 C 23.5 K
sg31.2 K
8. 2 K 16. 4 K 24.5 C
sg32.3 K
Multiple Choice Questions
38. 1 K 63. 2
P88.5
N113.5
N 138. 6
P
39. 1 K 64. 2 AP 89.5 AN114.5 AP 139. 7 K
40. 1 K 65. 3 K 90.5 K 115.5 AN 140. 7 K
41. 1 C 66. 3 C 91.5 K 116.5 AN 141. 7 K
42. 1 K 67. 3 C 92.5 C 117.5 AP 142. 7 C
43. 1 K 68. 3 K 93.5 C 118.5 AP a143. 8 C
44. 1 C 69. 3 C 94.5 AN119.5 AP a144. 8 C
45. 1 C 70. 3 C 95.5 K 120.5 C a145. 8 AN
46. 1 C 71. 3 C 96.5 AN121.5 C a146. 8 AN
47. 1 K 72. 3 C 97.5 C 122.5 AN a147. 8 AN
48. 2 K 73. 4 K 98.5 K 123.5 AN
a148. 8 AN
49. 2 K 74. 4 C 99.5 K 124.6 C sg149. 2 C
50. 2 K 75. 4 K 100.5 K 125.6 C
st150. 2 K
51. 2 K 76. 4 K 101.5 K 126.6 AN
st151. 2 K
52. 2 C 77. 4 K 102.5 C 127.6 AN
sg152. 4 K
53. 2 C 78. 4 K 103.5 C 128.6 AN st153. 4 K
54. 2 C 79. 4 K 104.5 K 129.6 C sg154. 5 AP
55. 2 C 80. 4 K 105.5 C 130.6 AN
sg155. 6 AP
56. 2 C 81. 4 C 106.5 AN131.6 AN st156. 6 K
57. 2 C 82. 4 K 107.5 AN132.6 AN
sg157. 6 AP
58. 2 K 83. 4 AN108.5 AN133.6 AP st158. 7 K
59. 2 C 84. 5 C 109.5 AN134.6 C sg159. 7 K
60. 2 C 85. 5 C 110.5 AN135.6 AN
61. 2 C 86. 5 K 111.5 AN136.6 AP
62. 2 AP 87. 5 K 112.5 AP 137.6 AP
sg This question also appears in the Study Guide.
st This question also appears in a self-test at the student companion website.
a This question covers a topic in an appendix to the chapter.