Which of the following is not an adjusting entry? a. Debit Wages Expense Credit Wages Payable. b. Debit unearned revenues, Credit revenue. c. Debit Cash, Credit unearned revenues. d. Debit Insurance Expense, Credit Prepaid Insurance.

Which of the following accounts is considered a temporary or nominal account?A. Fees Earned RevenueB. Prepaid AdvertisingC. Unearned Service RevenueD. Prepaid Insurance

transactions that require an adjusting entry (debit) to unearned revenue?

Subject - account  Please help me.  Thankyou.

Riverbed Cole Inc. acquired the following assets in January of 2018. Equipment, estimated service life, 5 years; salvage value, $14,500 Building, estimated service life, 30 years; no salvage value $536,500 $669,000 The equipment has been depreciated using the sum-of-the-years digits method for the first 3 years for financial reporting purposes. In 2021, the company decided to change the method of computing depreciation to the straight-line method for the equipment, but no change was made in the estimated service life or salvage value. It was also decided to change the total estimated service life of the building from 30 years to 40 years, with no change in the estimated salvage value. The building is depreciated on the straight-line method. (a) Prepare the general journal entry to record depreciation expense for the equipment in 2021. (b) Prepare the journal entry to record depreciation expense for the building in 2021. (Round answers to O decimal places, e.g. 125. Credit account…

explain the impact on the balance sheet and income statement, specifying which accounts are affected and whether the balance is over or understated,  if adjustments to recognize prepaid insurance as being expired and unearned revenue as being earned, are not recorded.

Which of the following entries properly closes a temporary account? Select one: a. Income Summary XX Cash b. C. Debit Credit Expense Accumulated Depreciation XX Income Summary Income Summary d. e. XX Retained Earnings XX Dividends Debit Credit Debit Credit XX Debit Credit Income Summary XX Revenue XX XX Debit Credit XX XX

Accrual accounting requires adjusting entries. Provide an example of an adjusting entry.

Which of the following accounts is a temporary account: a. Salaries expense. b. Accounts receivable. c. J. Jones, capital. d. Accounts payable.

The purchase of supplies on account     is debited to supplies and credited to account receivable. Is this statement correct