The adjusting entry for accrued revenues includes O a. debit to an asset account. O b. credit to an asset account. O c. credit to an expense account.

Q: Allowance for uncollectible account falls under what classification in a balance sheet?  Current…

A: Allowance for uncollectible Accounts: This is a contra asset account to the Accounts Receivables…

Q: hich of the following will be incluc the adjusting entry to accrue int ?exp

A: Accrued Interest Accrued interest refers to interest generated on an outstanding debt during a…

Q: Accounts receivable is

A: Account  Receivable is classified as an  Correct answer :- A.  An Assets

Q: Which of the following will be included in the adjusting entry to accrue interest * ?income or…

A: Accrue interest income is the interest earned but not received.

Q: Which of the following is a nominal account? a. Retained earnings b. Accounts receivable c.…

A: Nominal account includes all of a company's income statement items and the balance of owner's…

Q: Unearned Revenue is classified as​ a(n) ________ account.         A. equity   B. revenue   C.…

A: Unearned revenue is money received by an individual or company for a service or product that has yet…

Q: b.) Credit

A: Prepayment is an accounting term referred to the types of expenses not incurred yet but for which…

Q: The accrued balance in a revenue account represents an amount which is:

A: Solution: The accrued balance in a revenue account represents an amount which is earned but not…

Q: In which of the following types of accounts are increases recorded by credits?   A. revenues and…

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: The accrued balance in a revenue account represents an amount which is: A. earned and collected B.…

A: Revenues: Revenues are earnings from operations of a business. The operating activities are sale of…

Q: Which of the following is an asset account? O A. Unearned Revenue B. Notes Payable O C. Accounts…

A: Asset accounts means account related to resources of the business that it owns. It can be current…

Q: Which of the following accounts normally has a debitbalance?a. Unearned Revenueb. Rent Expensec.…

A: correct option is b.) Rent Expense Generally Assets, expenses, losses, and the owner's drawing…

Q: Which of the following accounts is a non-current asset account?

A: Non-current assets:   Non-current assets are assets that can be held for a longer period of time…

Q: Provide an example of an accrued revenue. Describe the adjusting entry associated with an accrued…

A: Accrued revenue: It can be defined as the revenue that has been earned by the company against the…

Q: What kind of account is Unearned Revenue?a. Liability accountb. Asset accountc. Expense accountd.…

A: The correct option is option “a”. Unearned revenue is not classified as an asset, owners' equity,…

Q: What is an account receivable? O a. Sales O b. Asset O c. Income O d. Creditors

A: Following is the answer to the given question

Q: The adjusting entry to record accrued interest expense is: Debit Interest expense and credit…

A: Adjusting journal entry: At year-end when the company finalizes its accounts then any unrecognized…

Q: Question 2 Equity Limited is a company that is involved in the retail of sporting goods. Due to the…

A: The question belongs to the Financial Instrument. Equity Ltd issued 600000 debentures @ N12 per…

Q: Which account is least likely to appear in an adjustingjournal entry?a. Cashb. Interest Receivablec.…

A: Adjusting entries: Adjusting entries are those entries which are recorded at the end of the year,…

Q: Under which of the following categories would Accounts Receivable​ appear?     A. long−term assets…

A: Current assets: Current assets are all those assets that are expected to be sold or used as a result…

Q: transactions that require an adjusting entry (debit) to unearned revenue?

A: Concept introduction:  Adjusting entries are required to adjust the accounts according to the…

Q: What is the proper classification of Prepaid Expense account? a.) Current Asset b.) Current…

A: The correct option with proper explanation are as follows. The expenses which is paid in advance is…

Q: The accounting concept that supports reporting revenues in the period in which they are earned is…

A: Explanation: 1. Revenue recognition concept: As per the revenue recognition concept, revenues are…

Q: If an adjustment includes an entry to a payable or receivable account, which type of adjustment is…

A: Some examples of adjusting entries including payable or receivable account are:   1. Rent expense…

Q: the unearned interest is credited in the adjusting entry, which of teh following will be affected?…

A: When Unearned Interest is credited, the following adjustment entry will be made: Account Titles…

Q: Reversing entries are used in income collected in advance when the adjusting entry has a Debit to an…

A: Income has not yet been earned, it has to be Advance.  Then, here is the journal entry…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.