Question: Classifying types of adjustments Classify the following items as ( a ) accrued revenue, ( b ) accrued expense, ( c ) unearned revenue, or

Classifying types of adjustments
Classify the following items as (a) accrued revenue, (b) accrued expense, (c) unearned revenue, or (d) prepaid expense:
Line Item DescriptionClassification1.A two-year premium paid on insurance policy.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
2.Fees earned but not yet received.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
3.Fees received but not yet earned.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
4.Salary owed but not yet paid.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
5.Subscriptions received in advance by a magazine publisher.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
6.Supplies on hand.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
7.Taxes owed but payable in the following period.
Accrued revenueAccrued expensePrepaid expenseUnearned revenue
8.Utilities owed but not yet paid.

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