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trapecia [35]
3 years ago
7

Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what

Business
1 answer:
zlopas [31]3 years ago
8 0

Answer:

overstated

Explanation:

Adjusting entry is a term used in the accounting process, which describes journal entries usually carried out at the end of an accounting period to assign income and expenditure to the period in which they actually happened.

However, the journal entry to identify a deferred revenue is to debit or increase cash and credit or increase a deposit or another liability account.

Hence, Failure to record the adjusting entry for deferred revenue now earned causes liabilities on the balance sheet to be what OVERSTATED

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Answer:

command has the government role

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Emergency funds are important because they ____________.
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Which answer best describes an unsubsidized federal loan?
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5 0
4 years ago
Jase Manufacturing Co.'s static budget at 7,800 units of production includes $39,000 for direct labor and $3,120 for electric po
Orlov [11]

Answer:

Option A. Variable costs of $56,700 and $43,900 of fixed costs

Explanation:

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Jase Manufacturing Co.'s static budget at 7,800 units of production includes;

Direct labor = $39,000

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8 0
3 years ago
A merchandiser has sales discounts forfeited of​ $100, cost of goods sold of​ $22,000, and other expenses of​ $1,100. The mercha
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Answer:

debit cost income is $23000

Explanation:

given data

discounts = $100

sold =​ $22,000

expenses =​ $1,100

to find out

The second entry in the closing process

solution

we know that sale discount is $100 and other expensive is $1100

so total debit cost income is in 2nd entry would be here $100 +$1100 + good sold

so we say  in 2nd entry

debit cost income = $1200 + $22000

debit cost income is $23000

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4 years ago
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