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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 21
A Type of adjustment
Classify the following items as (1) prepaid expense, (2) unearned revenue, (3) accrued revenue, or (4) accrued expense:
a. Cash received for services not yet rendered
b. Insurance paid for the next year
c. Rent revenue earned but not received
d. Salaries owed but not yet paid
B Type of adjustment
Classify the following items as (1) prepaid expense, (2) unearned revenue, (3) accrued revenue, or (4) accrued expense:
a. Cash received for use of land next month
b. Fees earned but not received
c. Rent expense owed but not yet paid
d. Supplies on hand
Classify the following items as (1) prepaid expense, (2) unearned revenue, (3) accrued revenue, or (4) accrued expense:
a. Cash received for services not yet rendered
b. Insurance paid for the next year
c. Rent revenue earned but not received
d. Salaries owed but not yet paid
B Type of adjustment
Classify the following items as (1) prepaid expense, (2) unearned revenue, (3) accrued revenue, or (4) accrued expense:
a. Cash received for use of land next month
b. Fees earned but not received
c. Rent expense owed but not yet paid
d. Supplies on hand
Explanation
Verified
Verified
(A)Classification of the following trans...
Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
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