Which of the following pairs of accounts could not appear in the same adjusting entry?

Question

BlackTom AI · Accepted Answer

Adjusting entries normally pair one income-statement account with one balance-sheet account (to recognize revenues earned or expenses incurred that affect assets or liabilities). This rule explains why Interest Income and Interest Expense would not appear together in the same adjusting entry.

Relevant knowledge points:
- Adjusting entries record accruals, deferrals, and estimates at period end so revenues and expenses are matched to the correct period.
- Typical form: debit (or credit) a balance-sheet account and credit (or debit) an income-statement account.
- Closing entries (separate process) do combine income and expense accounts, but those are not adjusting entries.

Step-by-step reasoning and examples:
1. Fees Earned and Unearned Fees: common adjusting entry when some previously received cash (liability Unearned Fees) has now been earned. Example: Debit Unearned Fees (liability decrease), Credit Fees Earned (revenue). This follows the balance-sheet ↔ income-statement pattern.

2. Rent Expense and Prepaid Rent: standard deferral adjustment when prepaid rent has expired. Example: Debit Rent Expense, Credit Prepaid Rent (asset decrease). Again, one balance-sheet and one income-statement account.

3. Salaries Payable and Salaries Expense: accrual for wages incurred but unpaid. Example: Debit Salaries Expense, Credit Salaries Payable (liability increase). Valid adjusting entry.

4. Interest Income and Interest Expense: both are income-statement accounts (revenues and expenses). An adjusting entry that only debits and credits two income-statement accounts would not be recognizing an asset or liability change and would violate the usual adjusting-entry purpose. You would not debit Interest Income and credit Interest Expense (or vice versa) as an adjusting entry—such a combination would merely reclassify or offset income statement items and is not an adjusting entry; reclassification between income and expense is inappropriate. (Combining income and expense accounts only occurs during closing entries, which are separate from adjusting entries.)

Why other options are incorrect: each pairs one income/expense with a related balance-sheet account (valid adjusting entries). Therefore, the correct answer is Interest Income and Interest Expense, matching the provided answer.

Which of the following pairs of accounts could not appear in the same adjusting entry? 单项选择题

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