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Multiple Choice
1.	b
2.	c
3.	c
4.	b
5.	c
6.	a
7.	b
8.	d Whatever the beginning balance was in the Prepaid Insurance account, plus the insurance that was purchased during the period, are all debits to the Prepaid Insurance account and represent the cost of the total insurance coverage available. By the end of the period, some of this insurance coverage has been used up, but the total amount available will still be showing in the unadjusted trial balance. The adjustments column will record how much of this balance has been used up during the period.
9.	a
10.	a
11.	d   Journal entries are prepared from the worksheet, not before the worksheet is done.
12.	d
13.	d
14.	c   If this seems unclear, draw the row of the worksheet that these would appear on, and fill in      the blanks, like this:
	Dr. Cr. Dr. Cr. Dr. Cr.   Unearned Revenue   750 ? ?   200
	Answer:
	Dr. Cr. Dr. Cr. Dr. Cr.   Unearned Revenue   750 550 —   200
15.	d   When a number is placed on the wrong side of a column, the difference in the totals is double the amount of      the number. Remember, it is very important to total each column as you finish it before moving across the      worksheet to new columns.

Learning Goal 13: Prepare a Worksheet

S1

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