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3 years ago

Match each type of adjusting entry with its definition.

Business

1 answer:

NeTakaya3 years ago

8 0

Answer and Explanation:

The matching is as follows:

1. Deferred revenue - the cash would be received in the present period and the same would be reported as a revenue for the future period

2. Accrued expense - It would be recorded as an expense for a present period but the cash would be paid in the future

3. Prepaid expense - The cash is paid or the obligation is to the pay the cash in the present period but the expense would be recorded in the future period

4. Accrued revenue - the revenue is recorded in the present period but the cash would be collected in a future period

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Answer: True

Explanation:

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3 years ago

Assuming that you’re recording the transactions on the first page of the journal, the page entry at the top right side of the jo

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3 years ago

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Answer:

Explanation:

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3 years ago

Strategic planning starts with a _____ that reflects a firm’s vision, purpose, and values.

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2 years ago

What interest is paid for three months on $960 at 2 74% annual interest paid quarterly?

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Answer:

$6.64

Explanation:

The applicable formula

A = p x ( 1+ r)^ n

A =amount after 3 months

p=principal amount: $960

r = interest rate : 2.74% per year or 2.74/12 per month =0.23% or 0.0023

n = 3 month

A = $960 x ( 1+ 0.0023) ^3

A =$960 x (1.0023)^3

A =$960 x 1.00691

A=$966.64

compound interest Earned

=$966.64 - $960

=$6.64

6 0

3 years ago