Of the following adjusting entries, which one results in an increase in liabilities and the recognition of an expense at the end of an accounting period?
A: The entry to accrue salaries owed to employees at the end of the period.
B: The entry to record revenue earned but not yet collected or recorded.
C: The entry to record earned portion of rent previously received in advance from a tenant.
D: The entry to write off a portion of unexpired insurance.
A: The entry to accrue salaries owed to employees at the end of the period.
B: The entry to record revenue earned but not yet collected or recorded.
C: The entry to record earned portion of rent previously received in advance from a tenant.
D: The entry to write off a portion of unexpired insurance.
举一反三
- In the case of unearned revenue, the adjusting entry at the end of the period includes a credit to Service Revenue. Assume the unearned revenue is initially recorded as a liability.
- The entry to record depreciation expense at the end of an accounting period( ). A: reduces the book value of the asset being depreciated B: is an example of an accrual C: reduces the balance in a contra asset acount D: increased the depreciable cost of the asset being depreciated
- An entry made to record an accrual, such as bad debt expense, that is not yet reflected in the accounting system is best described as a(n):（） A: ledger entry. B: adjusting entry. C: trial balance entry.
- Which of the following does not require an adjusting entry at year-end? A: Accrued interest on notes payable. B: Supplies used during the period. C: Cash invested by owner. D: Accrued wages. E: Expired portion of prepaid insurance.
- TRANSLATE THE FOLLOWING SENTENCE INTO CHINESE. "No accounting entry is made to record a payment at the time it is made from petty cash."