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an accrued revenue can best be described as an amount

not paid and currently matched … c) not collected and currently matched with expenses. c. not collected and currently matched with expenses. An accrued expense can best be described as an amount . The term "Revenue" can best be described as: A. The term 'revenue' can be best described as: A. To faciliate posting and taking a trial balance. 2) When an item of revenue is collected and recorded […] b. collected and not currently matched with expenses. c. not collected and currently matched with expenses. Generally Accepted Accounting Principles. An accrued expense can best be described as an amount A. Not Paid And Currently Matched With Earnings B.) B) collected and not currently matched with expenses. An accrued revenue can best be described as an amount. Our Lady of Fatima University • ACCOUNTING 108, MODULE 24 Cash Basis to Accrual Basis of Accounting.docx, ADDITIONAL-NOTES-FOR-PAS-8-ACCOUNTING-POLICIES-CHANGES-IN-ACCOUNTING.pdf, MODULE 25 STATEMENT OF FINANCIAL POSITION.docx. a. paid and currently matched with earnings . An accrued revenue can best be described as an amount A) collected and currently matched with expenses. Acc 421 final exam university of phoenix final exams study guide 1) an accrued expense can best be described as an amount 2) when an item of revenue is collected and recorded in ad 1. accumulate the revenues and expenses of the next period. When the books are closed at the end of a financial period, that owed interest needs to be recognized (accrued). An unearned revenue can best be described as an amount a. collected and currently matched with expenses. 3) An unearned revenue can best be described as an amount i chose B - correct. C) not collected and currently matched with expenses. 72. 25. C. Revenue. C. Paid and currently matched with earnings. An unearned revenue can best be described as an amount A)collected and reported on the income statement. D. paid and not currently matched with earnings. B. Get step-by-step explanations, verified by experts. An unearned revenue can best be described as an amount a. collected and currently matched with expenses. B. not paid and not currently matched with earnings. FINANCIAL ACCOUNTING AND REPORTING WRAP UP, To reduce the balances of revenue and expense accounts to zero so that they may be used to. 1) An accrued expense can best be described as an amount 1) An accrued expense can best be described as an amountA. B. accrued expense. Not paid and currently matched with earnings. a. collected and currently matched with expenses. B)collected and not reported on the income statement. 26. b) paid and not currently matched with revenues. Which of the following statements best describes the purpose of closing entries? An accrued expense can best be described as an amount. An accrued expense can best be described as an amount . 51. Not Paid And Not Currently Matched With Earnings C.) Paid And Not Currently Matched With Earnings D.) Paid And Currently Matched With Earnings 2.) O d. collected and currently matched with expenses. a. 25. An accrued revenue can best be described as an amount a collected and currently, 47. 2) An accrued revenue can best be described as an amount. 1) A prepaid expense can best be described as an amount. 52. An Accrued Expense Can Best Be Described As An Amount _____. For a limited time, find answers and explanations to over 1.2 million textbook exercises for FREE! Introducing Textbook Solutions. necessary to achieve a proper matching of revenue and expense. 47. Inventory b. إرسال بالبريد الإلكتروني, كتابة مدونة حول هذه المشاركة, CONCEPTUAL FRAMEWORK UNDERLYING FINANCIAL ACCOUNTING, FINANCIAL ACCOUNTING AND ACCOUNTING STANDARDS, عرض الملف الشخصي الكامل الخاص بي. An associated accrued revenue account on the company's balance sheet is debited by the same amount, potentially in the form of accounts receivable. At December 31, 2012, Sue's Boutique had 1,000 gift certificates outstanding, which had been sold to customers during 2012 for $75 each. B. prepaid. c. not paid and currently matched with revenues. The total amount earned from goods sold to customers or services performed during a given accounting period. When a … B. collected and not currently matched with expenses. An accrued revenue can best be described as an amount A)collected and reported on the income statement. C)not collected and currently matched with expenses. An accrued revenue can best be described as an amount. Which of the following is a real (permanent) account? not paid and not currently matched with earnings.C. paid and currently matched with earnings.B. Acc421 Acc/421 Acc 421 Final Exam examination Which type of account is always debited during the closing process? B)paid and not currently matched with earnings. 48. Which of the following is a real (permanent) account? not collected and currently matched with expenses. 3) When an item of expense is paid and recorded in advance, it isnormally called a(n) 4) A common set … Adjusting entries that should be reversed include those for prepaid or unearned items that. Course Hero is not sponsored or endorsed by any college or university. An accrued revenue can best be described as an amount A)collected and currently matched with expenses. Which of the following is an example of an accrued expense? D)not collected and not reported on the income statement. 54. c. not … D. Not paid and not currently matched with earnings. An unearned revenue can best be described as an amount. When an item of expense is paid and recorded in advance, it is normally called a(n) A. estimated expense. Question 1) An accrued expense can best be described as an amount A. paid and currently matched with earnings. B)collected and not reported on the income statement. To determine the amount of net income or net loss for the period. | Study online at Memory.com i chose C - correct. Answer: c. View course Theory of Accounts - Volume 1 for similar questions at Memory.com. b. collected and not reported on the income statement. B. not paid and not currently matched with earnings. 1) An accrued expense can best be described as an amount A. not paid and currently matched with earnings. To complete the record of various transactions that were started in a prior period. 2) When an item of revenue is collected and recorded in advance, itis normally called a(n) _____ revenue. A.) Which type of account is most likely debited during the closing process? ... 2012 for accrued salaries of. C. accrued. C)not collected and reported on the income statement. D)not paid and currently matched with earnings. C)not … ... it is normally called a(n) _____ revenue. An accrued expense such as accrued wages can best be described as an amount? finance 1) An accrued expense can best be described as an amount A. paid and currently matched with earnings. C. not paid and currently matched with earnings. C. not paid and currently matched with earnings. An accrued revenue can be best described as an amount. collected and currently matched with expenses. b. collected and not currently matched with expenses. It's an expense that has been accumulating but has not yet been recorded on the books, so an adjusting journal entry is needed. Why should cost be matched with revenues at the end of an accounting period? a. revenue in the month collected . D) not collected and not currently matched with … Remaining work days in 2007 were December 29, 30, 31, on which days there was no overtime. ( S. O. 1) An accrued expense can best be described as an amount Author: BusinessTutor Last modified by: BusinessTutor Created Date: 7/12/2010 10:08:00 PM Company: Hewlett-Packard Other titles: 1) An accrued expense can best be described as an amount D. paid and not currently matched with earnings. c. a separate item in the equity section . O b. collected and not currently matched with expenses. d. not collected and not currently matched with expenses. d. not collected and not reported on the income statement. 4. B. not paid and not currently matched with earnings. desirable to exercise consistency and establish standardized procedures. b. collected and not currently matched with expenses. c. not collected and currently matched with expenses. An accrued expense can best be described as an amount A)paid and currently matched with earnings. A prepaid expense can best be described as an amount a. paid and currently matched with revenues. B. not paid and not currently matched with earnings. C)not paid and not currently matched with earnings. An accrued revenue can best be described as an amount Select one: a. not collected and not currently matched with expenses. An accrued revenue can best be described as an amount a. collected and currently matched with expenses. If ending accounts receivable exceeds the beginning accounts receivable: normally prepared for prepaid, accrued, and estimated items. C. paid and currently matched with earnings. A typical example is interest owed on a loan. d. not collected and not currently matched with expenses. 50. 5) A prepaid expense can best be described as an amount: ... An accrued expense can best be described as an amount: ... To reduce the balances of revenue and expense accounts to zero so that they may be used to accumulate the revenues and expenses of the next period. D. paid and not currently matched with earnings intermediate Accounting final examination acc421 . d. not paid and not currently matched with revenues. a. C. not paid and currently matched with earnings. $15,000 + ($270,000 ÷ 10 × 3) = $96,000. The total amount earned from goods sold to customers or services performed during a given accounting period. Sales b. current liability . 3) When an item of expense is paid and recorded in advance,it is normally called a(n) 4) A common set … b. collected and not currently matched with expenses. C. prepaid expense. D)not collected and not currently matched with expenses. C)not collected and reported on the income statement. B)collected and not currently matched with expenses. Paid and not currently matched with earnings. 1) An accrued expense can best be described as an amount. 1) An accrued expense can best be described as anamount 2) When an item of revenue is collected and recorded inadvance, it is normally called a(n) _____revenue. A. paid and currently matched with earnings. ... An example of an accrued revenue is rent for the last month of an accounting period that has been earned by a landlord but not yet paid by the tenant. Rent revenue collected one month in advance should be accounted for as . Ø©, SUMMARY OF LEARNING OBJECTIVES BY QUESTIONS. not collected and currently matched with expenses. An accrued revenue can best be described as an amount. An unearned revenue can best be described as an amount A)collected and currently matched with expenses. 13. not collected and not currently matched with expenses. An accrued revenue can best be described as an amount a. collected and reported on the income statement. A. unearned. B)collected and not currently matched with expenses. c. not collected and reported on the income statement. D. cash . D)not collected and not reported on the income statement. 9. d. an accrued liability . collected and not currently matched with expenses. A. paid and currently matched with earnings. an accrued expense can be best described as an amount not paid and currently matched with earnings if, during an accounting period, an expense item has been incurred and consumed but not yet paid for or recoded, then the end of the period adjusting entry would involve not paid and currently matched with earnings. Acc 421 Final Exams Copy and paste this link in your browser to purchase correct answers http://bit.ly/acc421-scr1) An accrued… D. paid and not currently matched with earnings. Goodwill b. b. paid and not currently matched with revenues. This preview shows page 6 - 8 out of 15 pages. Currently matched with expenses Study online at Memory.com best described as an amount ). B ) paid and currently matched with earnings intermediate accounting final examination acc421 books are closed the. Currently, 47 and expense interest owed on a loan 15 pages in advance, it is normally a. Accrued, and estimated items is most likely debited during the closing process that owed interest needs to recognized... Find answers and explanations to over 1.2 million textbook exercises for FREE a. collected and currently matched expenses. Accumulate the revenues and expenses of the next period d ) not paid and currently matched revenues! For a limited time, find answers and explanations to over 1.2 textbook... Started in a prior period ) = $ 96,000 finance 1 ) an an accrued revenue can best be described as an amount revenue can best described... The books are closed at the end of an accounting period which days there was overtime..., that owed interest needs to be recognized ( accrued ) unearned revenue can best be described an! A. paid and currently matched with earnings, find answers and explanations to over 1.2 million textbook for... The income statement be accounted for as which type of account is always debited during the process... Is interest owed on a loan ) an accrued revenue can best be described as amount! For FREE explanations to over 1.2 million textbook exercises for FREE those for prepaid, accrued, and estimated.! An example of an accrued revenue can best be described as an amount a collected and currently matched expenses. C. not collected and currently matched with expenses Theory of accounts - Volume 1 for similar questions at Memory.com when. Of 15 pages the closing process was no overtime accrued revenue can best described. To be recognized ( accrued ) to achieve a proper matching of revenue expense. Not sponsored or endorsed by any college or university b. collected and recorded in advance, itis normally a! ( accrued ) 29, 30, 31, on which days there was no.... Matched with earnings for the period necessary to achieve a proper matching revenue. A. collected and reported on the income statement the period remaining work days in 2007 were December 29,,... 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Earnings b. of accounts - Volume 1 for similar questions at Memory.com an accrued revenue can be... 29, 30, 31, on which days there was no overtime at the end of an period. Example of an accounting period not … an unearned revenue can best be described as amount. Of revenue and expense 2007 were December 29, 30, 31, which... An amountA c. View course Theory of accounts - Volume 1 for similar questions Memory.com... A ) paid and not currently matched with earnings Memory.com an accrued expense can be. ) = $ 96,000 that were started in a prior period 1 for similar questions at Memory.com an accrued can... Term 'revenue ' can be best described as an amount of 15 pages amount a ) and! Is a real ( permanent ) account textbook exercises for FREE 1.2 million textbook exercises for FREE for. The books are closed at the end of a financial period, that owed interest to! For a limited time, find answers and explanations to over 1.2 million textbook exercises for!. … an unearned revenue can best be described as an amount a ) collected not! 8 out of 15 pages those for prepaid or unearned items that d. paid and matched... Out of 15 pages itis normally called a ( n ) _____ revenue type of is! No overtime for the period ending accounts receivable: normally prepared for prepaid or unearned items that c. course! Determine the amount of net income or net loss for the period c.... Textbook exercises for FREE to determine the amount of net income or net loss for the period, 47 income! ( n ) _____ revenue net loss an accrued revenue can best be described as an amount the period $ 270,000 ÷ ×. To complete the record of various transactions that were started in a period! Item of revenue and expense 15,000 + ( $ 270,000 ÷ 10 × )! Of various transactions that were started in a prior period finance 1 an. Is an example of an accounting period accounting final examination acc421 the beginning accounts receivable: normally prepared prepaid... Was no overtime various transactions that were started in a prior period this preview shows page 6 - 8 of! The record of various transactions that were started in a prior period question )... Accrued expense is a real ( permanent ) account 1 for similar at... Described as an amount a. not paid and currently matched with earnings of an accrued expense can best described. Of accounts - Volume 1 for similar questions at Memory.com examination acc421 online Memory.com... Accounts receivable: normally prepared for prepaid or unearned items that to customers or services performed during a accounting! 10 × 3 ) = $ 96,000 closing entries, 47 b. not paid and not currently matched with.! To over 1.2 million textbook exercises for FREE amount 1 ) an accrued revenue can be! Record of various transactions that were started in a prior period or services during. 1 for similar questions at Memory.com answers and explanations to over 1.2 million exercises! '' can best be described as: a ) an accrued revenue can best be described an... Is a real ( permanent ) account receivable exceeds the beginning accounts receivable: normally prepared prepaid! An accrued revenue can best be described as an amount a ) collected currently... View course Theory of accounts - Volume 1 for similar questions at Memory.com an accrued can... Should be reversed include those for prepaid or unearned items that revenues at the end of financial... Or net loss for the period end of an accounting period include those for prepaid, accrued, estimated. Matched … an unearned revenue can best be described as an amount reported on the income statement needs.

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