(1) Accrue salaries expense. Dr. Cr.. ****** - Dr. Cr. - (2) Adjust the Unearned Services Revenue account to recognize earned revenue...... (3) Record services revenue earned for which cash will be received the following period... Dr. Cr. - For each of the adjusting entries (1), (2), and (3), indicate the account to be debited and the account to be credited from a through i below. a. Prepaid Insurance b. Cash d. Unearned Services Revenue e. Salaries Expense g. Accounts Receivable h. Accounts Payable 1. Depreciation Expense c. Salaries Payable f. Services Revenue

(1) Accrue salaries expense. Dr. Cr.. ****** - Dr. Cr. - (2) Adjust the Unearned Services Revenue account to recognize earned revenue...... (3) Record services revenue earned for which cash will be received the following period... Dr. Cr. - For each of the adjusting entries (1), (2), and (3), indicate the account to be debited and the account to be credited from a through i below. a. Prepaid Insurance b. Cash d. Unearned Services Revenue e. Salaries Expense g. Accounts Receivable h. Accounts Payable 1. Depreciation Expense c. Salaries Payable f. Services Revenue

Name: Dr.(1) Accrue salaries expense.Cr.______Dr.Cr.(2) Adjust the Unearned
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: Dr.(1) Accrue salaries expense.Cr.______Dr.Cr.(2) Adjust the Unearned Services Revenue account to recognize earned revenue..(3) Record services revenue earned for which cash will be received the following period... Dr._____ Cr.For each of the adjust

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 4PB: Identify which type of adjustment is associated with this account, and what the other account is in...

See similar textbooks

Similar questions

For each of the following accounts, identify whether it is nominal/temporary or real/permanent, and whether it is reported on the Balance Sheet or the Income Statement. A. Salaries Payable B. Sales Revenue C. Salaries Expense D. Prepaid Insurance
Identify whether each of the following transactions, which are related to revenue recognition, are accrual, deferral, or neither. A. provided legal services to client, who paid at the time of service B. received cash for legal services performed last month C. received cash from clients for future services to be provided D. provided legal services to client, to be collected next month
What two accounts are affected by each of these adjustments? A. recorded accrued interest on note payable B. adjusted unearned rent to correct C. recorded depreciation for the year D. adjusted salaries payable to correct E. sold merchandise to customers on account
Identify whether each of the following transactions, which are related to expense recognition, are accrual, deferral, or neither. A. paid an expense for the current month B. prepaid an expense for future months C. made a payment to reduce accounts payable D. incurred a current-month expense, to be paid next month
State whether the balance in each of the following accounts increases with a debit or a credit. A. Office Supplies B. Retained Earnings C. Salaries Expense D. Accounts Receivable E. Service Revenue
What two accounts are affected by each of these adjustments? A. billed customers for services provided B. adjusted prepaid insurance to correct C. recorded depreciation expense D. recorded unpaid utility bill E. adjusted supplies inventory to correct
Indicate on which financial statement the following accounts (from the adjusted trial balance) would appear: (A) Sales Revenue; (B) Unearned Rent Revenue; (C) Prepaid Advertising; (D) Advertising Expense; (E) Dividends; (F) Cash.
The following accounts were used to make year-end adjustments. Identify the related account that is associated with this account (the other account in the adjusting entry). A. Salaries Payable B. Depreciation Expense C. Supplies D. Unearned Rent
Identify which type of adjustment is associated with this account, and what the other account is in the adjustment. Choose accrued revenue, accrued expense, deferred revenue, or deferred expense. A. Salaries Payable B. Interest Receivable C. Unearned Fee Revenue D. Prepaid Rent
Which of these accounts is included in the post-closing trial balance? A. Supplies Expense B. Accounts Payable C. Sales Revenue D. Insurance Expense
Which of these accounts is included in the post-closing trial balance? A. Sales Revenue B. Salaries Expense C. Retained Earnings D. Dividends
LO1 As part of the adjustment of supplies, an expense account is debited and Supplies is credited for the amount of supplies used during the accounting period.