Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1)...
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Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1) type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (2) the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.) (1) (2) Type of Adjustment Accounts Before Adjustment Services performed but unbiled totals $600. (a) (b) Store supplies of $160 are on hand. The supplies account shows a $1,900 balance. (c) Utility expenses of $275 are unpaid. Uneamed Revenues Acorund tpenses Acred fevenus (a) Service performed of $490 collected in advance. Prepwd tpee (e) Salaries of $620 are unpaid. Prepaid insurance totaling $400 has expired. Wang Company accumulates the following adjustment data at December 31. For each item, indicate the (1) type of adjustment (prepaid expense, unearned revenue, accrued revenue, or accrued expense) and (2) the status of the accounts before adjustment (overstated or understated). (Enter your answers in alphabetical order.) (1) (2) Type of Adjustment Accounts Before Adjustment Services performed but unbiled totals $600. (a) (b) Store supplies of $160 are on hand. The supplies account shows a $1,900 balance. (c) Utility expenses of $275 are unpaid. Uneamed Revenues Acorund tpenses Acred fevenus (a) Service performed of $490 collected in advance. Prepwd tpee (e) Salaries of $620 are unpaid. Prepaid insurance totaling $400 has expired.
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Answer a Services performed but unbilled totals 600 Accrued Reve... View the full answer
Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118096895
6th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
Posted Date:
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