15. Which of the following adjusting entries would be the most likely to be reversed? a. Depreciation Expense 2,000 Accumulated Depreciation 2,000 b. Unearned Rent 600 Rent Revenue 600 c. Prepaid Insurance Insurance Expense d. Income Tax Expense 200 200 450 Income Taxes Payable 450

15. Which of the following adjusting entries would be the most likely to be reversed? a. Depreciation Expense 2,000 Accumulated Depreciation 2,000 b. Unearned Rent 600 Rent Revenue 600 c. Prepaid Insurance Insurance Expense d. Income Tax Expense 200 200 450 Income Taxes Payable 450

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

15. Which of the following adjusting entries would be the most likely to be reversed?
a. Depreciation Expense
2,000
Accumulated Depreciation
2,000
b. Unearned Rent
600
Rent Revenue
600
c. Prepaid Insurance
Insurance Expense
d. Income Tax Expense
200
200
450
Income Taxes Payable
450

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