Financial Accounting, Student Value Edition (4th Edition)

4th Edition

ISBN: 9780134114811

Author: Robert Kemp, Jeffrey Waybright

Publisher: PEARSON

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Textbook Question

Chapter 3, Problem 14AE

Exercises (Group A)

E3-14A. Adjusting journal entries—unearned revenue and accrued revenue (Learning Objective 2) 10-15 min.

Suppose you started your own landscaping business. A customer paid you $120 in advance to mow his lawn while he was on vacation. You also performed landscaping services for a local business, but the business hasn't paid you the $390 fee yet. In addition, a customer paid you $130 cash for landscaping services. Answer the following questions about the correct way to account for your revenue under accrual accounting:

1. Name the accounts used to record these events.
2. Prepare the journal entries to record the three transactions.

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Chapter 3, Problem 13SE

Chapter 3, Problem 15AE

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Chapter 3 Solutions

Financial Accounting, Student Value Edition (4th Edition)

Ch. 3 - If XYZ Consulting performs a consulting service,...Ch. 3 - Prob. 2DQ Ch. 3 - Prob. 3DQ Ch. 3 - Prob. 4DQ Ch. 3 - Prob. 5DQ Ch. 3 - Prob. 6DQ Ch. 3 - Prob. 7DQ Ch. 3 - Prob. 8DQ Ch. 3 - What kind of account is accumulated depreciation?...Ch. 3 - Prob. 10DQ

Ch. 3 - Prob. 1SC Ch. 3 - Adjusting the accounts is the process of a....Ch. 3 - Which of the following terms describes the types...Ch. 3 - Assume the weekly payroll of ASR, Inc., is 4,500....Ch. 3 - Prob. 5SC Ch. 3 - Prob. 6SC Ch. 3 - Prob. 7SC Ch. 3 - What do closing entries accomplish? a. Bring the...Ch. 3 - Prob. 9SC Ch. 3 - Which correctly represents the flow of information...Ch. 3 - Prob. 11SC Ch. 3 - Prob. 12SC Ch. 3 - Prob. 1SE Ch. 3 - Prob. 2SE Ch. 3 - Prob. 3SE Ch. 3 - Adjusting journal entryprepaid rent (Learning...Ch. 3 - Prob. 5SE Ch. 3 - Prob. 6SE Ch. 3 - Prob. 7SE Ch. 3 - Adjusting journal entrysalaries, accrued revenue,...Ch. 3 - Prob. 9SE Ch. 3 - Closing entries (Learning Objective 4) 5-10 min....Ch. 3 - Prob. 11SE Ch. 3 - Prob. 12SE Ch. 3 - Prob. 13SE Ch. 3 - Exercises (Group A) E3-14A. Adjusting journal...Ch. 3 - Adjusting journal entry-prepaid insurance...Ch. 3 - Common adjusting journal entries (Learning...Ch. 3 - Prob. 17AE Ch. 3 - Common adjusting journal entries (Learning...Ch. 3 - Prob. 19AE Ch. 3 - Prob. 20AE Ch. 3 - Prob. 21AE Ch. 3 - Prob. 22AE Ch. 3 - Prob. 23AE Ch. 3 - Prob. 24AE Ch. 3 - Prob. 25AE Ch. 3 - Prob. 26AE Ch. 3 - Prob. 27AE Ch. 3 - Prob. 28BE Ch. 3 - Prob. 29BE Ch. 3 - Prob. 30BE Ch. 3 - Analyzing errors (Learning Objective 2) 10-15 min....Ch. 3 - Common adjusting journal entries (Learning...Ch. 3 - Prob. 33BE Ch. 3 - Prob. 34BE Ch. 3 - Prob. 35BE Ch. 3 - Prob. 36BE Ch. 3 - Prob. 37BE Ch. 3 - Prob. 38BE Ch. 3 - Prob. 39BE Ch. 3 - Prob. 40BE Ch. 3 - Prob. 41BE Ch. 3 - Problems (Group A) Common adjusting journal...Ch. 3 - Prob. 43AP Ch. 3 - Prob. 44AP Ch. 3 - Prob. 45AP Ch. 3 - Prob. 46AP Ch. 3 - Prob. 47AP Ch. 3 - Problems (Group B) Common adjusting journal...Ch. 3 - Prob. 49BP Ch. 3 - Prob. 50BP Ch. 3 - Effects of adjusting journal entries on income...Ch. 3 - Prob. 52BP Ch. 3 - Prob. 53BP Ch. 3 - Prob. 1CE Ch. 3 - Prob. 1CP Ch. 3 - Prob. 1CFSAP Ch. 3 - Prob. 1EIA Ch. 3 - Case 2. Brent Robertson and his banker were...Ch. 3 - Prob. 1FA Ch. 3 - Prob. 1IA Ch. 3 - Prob. 1SBA Ch. 3 - Written Communication You have received a letter...Ch. 3 - Prob. 1COP

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Solution Summary: The author lists the various accounts that are used to record the events, including accounts receivable, unearned service revenue, and cash.

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Chapter 3 Solutions