A business uses the Perpetual Inventory System. The Inventory general ledger account at 30 June 2016 shows a balance of $95,000 Dr. A stocklake was performed and stock on hand was found to be $92,000. The inventory variance adjustment is recorded as:
a. Dr Purchases, Cr Inventory question
b. Dr Cost of Goods Sold, Or Inventory
c. Dr Inventory, Or Cost of Goods Sold
d. Dr Inventory, Cr Purchases

Rent expense for the office is $1,000 per month and is paid up until 31 May 2016. What is the type and amount of balance day Not yet adjustment for the year ended 30 June 2016. Select one:
a. Revenue received in advance $1,000
b. Prepaid expense $1,000
c Accrued expense $1,000
d. Accrued expense $500

Wages Incurred but not yet paid is recorded on balance day as: Select one:
a. Dr Profit and Loss, Cr Accrued Expenses
b. Dr Accrued Expenses, Cr Wages
c. Dr Profit and Loss, Cr Accrued Expenses
d. Dr Wages, Cr Bank