Solved

Odom Company's Prepaid Expenses Increased $3,000 Between 12/31/2021 and the 12/31/2022.If

Question 169

Multiple Choice

Odom Company's prepaid expenses increased $3,000 between 12/31/2021 and the 12/31/2022.If Odom uses a worksheet is to facilitate the preparation of the statement of cash flows, the entry in the reconciling columns of the worksheet would be


A) Operating- Increase in Prepaid Expenses (debit column) , Prepaid Expenses (credit column) .
B) Prepaid Expenses (debit column) , Cash (credit column) .
C) Prepaid Expenses (debit column) Operating- Increase in Prepaid Expenses (credit column) .
D) Cash (debit column) , Prepaid Expenses (credit column) .

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents