What is the imapct on the accoutning equation when a current month's utility expense is paid?
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What is the imapct on the accoutning equation when a current month's utility expense is paid?
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- Prepare the income statement for the current month.What are journal entries for an accrual of electricity expenses of ksh 1000What is the impact on the accounting equation when a current months utility expense is paid? A. both sides increase B. both sides decrease C. only the Asset side changes D. neither side changes
- Using the following account balances, calculate for the two years presented: A. working capital B. current ratioWhat amount was reported as net income for the current year?Which among the following is an example of prepaid expense? a. Insurance paid in advance for the whole year b. Insurance not paid c. Insurance paid for current month d. Insurance to be paid next year