Match the following situation to the appropriate type of adjustment entry Prompts Submitted Answers Recognizing the...
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Match the following situation to the appropriate type of adjustment entry Prompts Submitted Answers Recognizing the expenses which was paid in advance. Choose a match Prepaid Expenses Recognize the expenses for which services is received but not paid on the year end. Unearned Revenue Recognizing the Income for the services performed but not billed and paid Accrued Expenses Client has paid for the services in full, you are required to recognizing the income for part of the work that is completed on Depreciation уear end. Accrued Revenue Recognize the expenses for the use of the asset purchased over the useful life. Match the following situation to the appropriate type of adjustment entry Prompts Submitted Answers Recognizing the expenses which was paid in advance. Choose a match Prepaid Expenses Recognize the expenses for which services is received but not paid on the year end. Unearned Revenue Recognizing the Income for the services performed but not billed and paid Accrued Expenses Client has paid for the services in full, you are required to recognizing the income for part of the work that is completed on Depreciation уear end. Accrued Revenue Recognize the expenses for the use of the asset purchased over the useful life.
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iA prepaid expense is a type of asset on the balance sheet that results from a business making advan... View the full answer
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-0078025914
5th edition
Authors: Fred Phillips, Robert Libby, Patricia Libby
Posted Date:
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