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Match each transaction with its related term: Terms Definitions

Match each transaction with its related term: Terms Definitions

FINANCIAL ACCOUNTING
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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are the following a. Adjusting Entries b. Adjusted Trial Balance C. Income Statement, Statement of Changes in Equity and Balance Sheet NAME: ACTIVITY NO. 1 COURSE: YR.&SEC. DATE Below are terms pertinent to adjusting entries. Match each definition with its related term. There are two answers for each term. Terms 1. Accrued Expense 2. Deferred Expense Definitions a. Revenue not yet earned; collected in advance. b. Office supplies on hand; used next accounting period. c. Rent revenue collected; not yet earned. d. Rent not yet collected; already earned. e. An expense incurred; not yet paid or recorded. f. Revenue earned; not yet collected. g. An expense not yet incurred; paid in advance. h. Property taxes incurred; not yet paid. 3. Accrued Revenue 4. Deferred Revenue conto Match each transaction with its related term: Terms Definitions ACTIVITY NO. 2
Transcribed Image Text:are the following a. Adjusting Entries b. Adjusted Trial Balance C. Income Statement, Statement of Changes in Equity and Balance Sheet NAME: ACTIVITY NO. 1 COURSE: YR.&SEC. DATE Below are terms pertinent to adjusting entries. Match each definition with its related term. There are two answers for each term. Terms 1. Accrued Expense 2. Deferred Expense Definitions a. Revenue not yet earned; collected in advance. b. Office supplies on hand; used next accounting period. c. Rent revenue collected; not yet earned. d. Rent not yet collected; already earned. e. An expense incurred; not yet paid or recorded. f. Revenue earned; not yet collected. g. An expense not yet incurred; paid in advance. h. Property taxes incurred; not yet paid. 3. Accrued Revenue 4. Deferred Revenue conto Match each transaction with its related term: Terms Definitions ACTIVITY NO. 2
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