Match each situation below to two applicable reasons that require an adjustment to be made. 1. IBM
Question:
Transcribed Image Text:
1. IBM completed a consulting project for the CDC A Revenue has been earned. B. Expense has been incurred C. Liability has been incurred. D. Liability has been fulfilled. E Asset has been acquired F Asset has been used up. f cotagóons vinises anud will be paid next month. 2. This month Apple, Inc. redeemed iTunes gift cards that had been issued last month. 3. Schutt Sports used up some of the benefits of its football helmet manufacturing equipment. 4. Procter & Gamble received a bill for this month's advertising services, which it will pay next month
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (18 reviews)
1 A E ...View the full answer
Answered By
Ajeet Singh
Hi there! Are you looking for a committed, reliable, and enthusiastic tutor? Well, teaching and learning are more of a second nature to me, having been raised by parents who are both teachers. I have done plenty of studying and lots of learning on many exciting and challenging topics. All these experiences have influenced my decision to take on the teaching role in various capacities. As a tutor, I am looking forward to getting to understand your needs and helping you achieve your academic goals. I'm highly flexible and contactable. I am available to work on short notice since I only prefer to work with very small and select groups of students. Areas of interest: Business, accounting, Project management, sociology, technology, computers, English, linguistics, media, philosophy, political science, statistics, data science, Excel, psychology, art, history, health education, gender studies, cultural studies, ethics, religion. I am also decent with math(s) & Programming. If you have a project you think I can take on, please feel welcome to invite me, and I'm going to check it out!
5.00+
4+ Reviews
24+ Question Solved
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Question Posted:
Students also viewed these Accounting questions
-
At December 31, the unadjusted trial balance of H& R Tacks reports Prepaid Insurance of $ 7,200 and Insurance Expense of $ 0. The insurance was purchased on July 1 and provides coverage for 24...
-
The adjusted trial balance for PI Detectives reported the following account balances: Accounts Receivable $ 500; Supplies $ 9,000; Prepaid Insurance $ 7,200; Equipment $ 28,000; Accumulated...
-
In what ways can independent verification occur?
-
To add new components or tools into the NetBeans IDE, one can use . a. The JFrame tool b. Plugins c. The PHP tool d. JavaFX
-
What is the net charge of an object that has 1.0 million excess electrons?
-
These are derivatives investment hedging problems. PLEASE YOUR ANSWER ON ONE EXCEL SHEET 1. An investor makes the following investment: Goes long 50 contracts on apple stock at K1=110 and c1=20, and...
-
4. A parent company and its subsidiaries are separate legal entities. Hence, they have separate accounting records. Explain why they might need to be consolidated.
-
Turkburg produces frozen turkey patties. In the Forming Department, ground turkey is formed into patties and cooked; an acceptable shrinkage loss for this department is 1 percent of the pounds...
-
Question 4 Not yet answered Marked out of 1 Flag question Ledger is a book which maintains accounts of Select one: a. None of the above O b. ONLY assets accounts O C. ONLY expenses and revenue...
-
Consider the market for shoes in country A. Demand is assumed to be 100 - p where p is the final consumer price. Suppose that country A does not produce shoes and that there are two importers B and...
-
At December 31, the unadjusted trial balance of H& R Tacks reports Equipment of $ 30,000 and zero balances in Accumulated Depreciation Equipment and Depreciation Expense. Depreciation for the period...
-
At December 31, the unadjusted trial balance of H& R Tacks reports Unearned Revenue of $ 5,000 and Service Revenues of $ 33,800. One- half of the unearned revenue has been earned as of December 31....
-
Estimate with 95% confidence the difference in incomes (INCOME) between men and women.
-
in a thermodynamics, a phase means what?
-
Give me a 3 python codes in (Discrete Mathematics course) for : 1-basic algorithm 2- the growth of functions 3- Complexity of Algorithms And explain how its works with examples.
-
Using the perpetual inventory system, calculate the ending inventory and Cost of Goods Sold under each of the following methods. Beginning Inventory 10 units @ $1 Purchases January 5 January 20 20...
-
the manager of wongs food express estimates operating costs for the year will total $300,000 for fixed costs. 28. find the sales dollars required with a contribution margin ratio of 40 percent to...
-
Tara Williams and Tilly North had been yoga buddies for almost a decade. Yoga was an escape from the daily stresses of being working parents for both of them. One thing Tara and Tilly always talked...
-
Ashley Madison.com is known as an "infidelity website." The site, owned by Avid Dating Life, Inc., has as its motto, "Life is short. Have an affair." Its motto gives fairly clear insight into its...
-
How do the principles of (a) Physical controls and (b) Documentation controls apply to cash disbursements?
-
What is the role of corporate communication?
-
Partial income statements for Murphy & Murphy (M & M) reported the following summarized amounts: After these amounts were reported, M & M's accountant determined that the inventory on December 31,...
-
Gladstone Limited tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic...
-
Mojohava Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic...
-
What general conclusions can you draw about your companys liquidity, solvency and productivity based on your ratio calculations. Working Capital 2017 = $9,994 M 2016 = $10,673 M Current Ratio 2017 =...
-
Tami Tyler opened Tami's Creations, Incorporated, a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain...
-
5. The current spot exchange rate is 0.95/$ and the three-month forward rate is 0.91/$. Based on your analysis of the exchange rate, you are pretty confident that the spot exchange rate will be...
Study smarter with the SolutionInn App