Accrued revenues: Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received. To record: the lending for Company F on July 1, 2015.

Question

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Answer 1

Question

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

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Answer 2

Question

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

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Answer 3

Question

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

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Answer 4

Question

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

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Answer 5

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

Answer 6

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

Answer 7

Chapter 3, Problem 3.13BE

1)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

Answer 8

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

Answer 9

2)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

Answer 10

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

Answer 11

3)

To determine

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To calculate: the yearend adjusted balances of interest revenue and interest receivable.

Answer 12

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Answer 13

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Answer 14

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Answer 15

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Accrued revenues: Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received. To record: the lending for Company F on July 1, 2015.

Concept explainers

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.

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Chapter 3 Solutions

Accrued revenues: Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received. To record: the lending for Company F on July 1, 2015.

Concept explainers

Accrued revenues: Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received. To record: the lending for Company F on July 1, 2015.

Accrued revenues: Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received. To record: the adjustment entry for Company F on December 31.

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Chapter 3 Solutions

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the lending for Company F on July 1, 2015.

Accrued revenues:

Accrued revenue is the revenue for which company provided products and services to customers but hasn’t received cash. It is recorded as revenue and an asset for the amount expected to be received.

To record: the adjustment entry for Company F on December 31.