Answer:
a) Fees earned (or revenues) will be understated. Net income will be understated.
b) Accounts (fees) receivable (or assets) will be understated. Owner’s equity will
be understated.
Explanation:
Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition, principle and expense recognition principle.
All adjusting entries affect at least one income statement account (revenue or expense), and one statement of position account (asset or liability).
<span>One study showed that all of high school seniors said they had been in a vehicle with a drugged or drinking driver in the past two weeks.</span>
India remained under the authority of Britain until the late 1940s when it adopted a Constitution and proclaimed itself a PARLIAMENTARY REPUBLIC.
Answer.is a method of clarification and understanding.
Explanation:
this is a method used for a better way of understand a topic.
