• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit, Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit

• LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted Trial Balance Debit Account Title Equipment (Fixed Asset) Accumulated Depreciation Prepaid Rent Unearned Revenue Unearned Revenue will decrease with a Credit, Revenue Earned will increase with a Debit Revenue Earned will increase with a Credit No adjusting entry is required at period end 100,000 15,000 10,000 1,000 Credit

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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