The information in the following T-accounts of Gibbs Company indicates that:
A)Cash has been paid out to a company that will provide future services to Gibbs Company.
B)Gibbs has completed services for which they had earlier received cash in advance.
C)Gibbs has provided services to a customer on account.
D)Gibbs has received cash for service to be provided in the future.

Question

The information in the following T-accounts of Gibbs Company indicates that: 
A)Cash has been paid out to a company that will provide future services to Gibbs Company. 
B)Gibbs has completed services for which they had earlier received cash in advance. 
C)Gibbs has provided services to a customer on account. 
D)Gibbs has received cash for service to be provided in the future.

Quizplus · Accepted Answer

The Answer of The information in the following T-accounts of Gibbs Company indicates that: 
A)Cash has been paid out to a company that will provide future services to Gibbs Company. 
B)Gibbs has completed services for which they had earlier received cash in advance. 
C)Gibbs has provided services to a customer on account. 
D)Gibbs has received cash for service to be provided in the future.

The Information in the Following T-Accounts of Gibbs Company Indicates