For each type of adjustment listed, indicate whether it is an unrecorded receivable, an unrecorded liability, an
Question:
1. Property taxes that are for the year 2012, but are not to be paid until 2013.
2. Rent revenue earned during 2012, but not collected until 2013.
3. Salaries earned by employees in December 2012, but not to be paid until January 5, 2013.
4. A payment received from a customer in December 2012 for services that will not be performed until February 2013.
5. An insurance premium paid on December 29, 2012, for the period January 1, 2013, to
December 31, 2013.
6. Gasoline charged on a credit card during December 2012. The bill will not be received until January 15, 2013.
7. Interest on a certificate of deposit held during 2012. The interest will not be received until January 7, 2013.
8. A deposit received on December 15, 2012, for rental of storage space. The rental period is from January 1, 2013, to December 31, 2013.
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Related Book For
Accounting concepts and applications
ISBN: 978-0538745482
11th Edition
Authors: Albrecht Stice, Stice Swain
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