Unearned Revenue Prepaid Expenses

Accrual And Cash Basis Accounting - Ch.3 Video 1 - YouTube
Prepaid; Expense; Unearned; Revenue; Accrued; Accounting; Matt; Fisher; License: Standard YouTube License 64 likes, 0 dislikes Show more . Show less . Link to this comment: 5:59 Prepaid Expenses - Ch. 3 Video 2 by mattfisher64 Featured Video 15,609 views; ... View Video

Chapter 4: Accrual Basis Accounting And The Accounting Cycle
Received Often called unearned revenue Deferred expenses Dollars were paid in a prior transaction Adjustment made for expense incurred in current accounting period related to cash previously received Often called prepaid expenses Purchase of supplies is an asset exchange Supplies ... Access This Document

66124 AppB B1-B4
Deferred expenses (prepaid expenses) or deferred revenues (unearned revenues). In Chapter 2, deferred expenses (prepaid expenses) were debited to an asset ac- When a deferred revenue (unearned revenue) is initially recorded as a revenue. ... Get Content Here

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The major types of adjusting entries are prepaid expenses, unearned revenues, accrued revenues, and accrued expenses. 4. State whether each situation is a prepaid expense (PE), unearned revenue (UR), accrued revenue (AR) or an accrued expense (AE). ... Fetch Full Source

Chapter 3: The Accounting Information System
Prepayments: Prepaid Expenses (cash paid to third party); Unearned Revenue (cash received from third party) Accruals: Accrued Revenues; Accrued Expenses. Depreciation. Bad Debt Expense. ... Fetch Content

The Adjusting Process - MDC Faculty Home Pages - Miami Dade ...
Supplies and prepaid insurance Types of Accounts requiring adjustment Unearned revenues $3,000 Accrued revenue Revenues not billed to customers $2,500 Accounts receivable $2,500 fees Types of Accounts requiring adjustment Prepaid expenses ... Content Retrieval

CHAPTER 3
Prepaid expenses, depreciation, and unearned revenue are prepaid-type adjustments. Unearned Revenue XX (↑ liability) Service Revenue XX (↑ revenue) 2. The adjusting entry for each method is: Record as Liability Record as Revenue. ... Fetch Document

Closing Entries As Part Of The Accounting Cycle - How To ...
When the revenue, expense, and drawing accounts (the temporary accounts) are closed, their balance returns to zero in preparation for the new accounting period. It contains all the company's revenues and expenses for the current accounting time period. ... Read Article

Accounting For Inventories
Expenses, assets, and receive benefit Receive a cash revenue in advance and allocate amounts as revenues to periods in which revenues earned Prepaid one month’s rent has been earned and become revenue Correct Dec. 31 balance Unearned Revenue $500 Rent Revenue $100 Unearned Revenues ... Document Viewer

ADJUSTMENT ACCOUNTS & ENTRIES - Home : Texas State University
Unearned Subscription Revenue 1,200 . As each month passes, the magazine company sends out the monthly issues and earns the revenue for that month. The PREPAID EXPENSES – Expenses that have been paid by the business but not used. ... Doc Viewer

EXERCISES Ex. 3–1 - Colby College | Four-Year Liberal Arts ...
Unearned revenue to the airline. (2) At the end of the airline’s accounting period, it would have adjusting entries related to such items as the following: • Prepaid expenses related to insurance, etc. Activity 3–4 a. ... Retrieve Here

Analyzing Microsoft's Balance Sheet - Investing For Beginners
Unearned revenue: $4,816: $5,614: Other liabilities: $2,714: $2,120: Total current liabilities: $9,755: $11,132: Deferred income taxes: $1,027: $836: Common stock and paid-in capital: $23,195: $28,390: Retained earnings, accumulated other comprehensive income of $1,527 and $587: ... Read Article

Chapter 3
PREPAYMENTS Prepayments are either prepaid expenses or unearned revenues. Unearned Revenue. C.R. Byrd, Capital. C.R. Byrd, Drawings. Service Revenue. Salaries Expense. Rent Expense. General Journal. J1. Date. Account Title and Explanation . Ref. Oct. 31. ... Get Content Here

Chapter 3 - Wiley
This treatment of prepaid expenses and unearned revenues will ultimately result in the Advertising Supplies 2,500 Prepaid Insurance 600 Office Equipment 5,000 Notes Payable $ 5,000 Accounts Payable 2,500 Unearned Revenue 1,200 Common Stock 10,000 Retained Earnings -0- Dividends 500 ... Fetch This Document

CounterPath Reports Second Quarter Fiscal 2013 Financial Results
VANCOUVER, Dec. 13, 2012 /PRNewswire/ - CounterPath Corporation ("CounterPath" or the "Company") (NASDAQ: CPAH) (TSX: CCV), an award-winning provider of desktop and mobile VoIP software ... Read News

REVENUE RECOGNITION PRINCIPLE - WVU College Of Business And ...
The adjusting entry results in a debit to a liability account and a credit to a revenue account. Examples of unearned revenues include rent, magazine subscriptions This treatment of prepaid expenses and unearned revenues will ultimately result in the same effect on the financial statements as ... Read Document

User:Arael2/wikislice-economics - Wikipedia, The Free ...
EPS - PAYE - Revenue sheet event - power of attorney - power of decision - pre-consolidation adjustment - predetermined cost - preliminary expenses - prepaid - trustee securities - turnover sales - uncollectible accounts - unconsolidated subsidiarz - underwriting syndicate - unearned ... Read Article

Income Taxes - New York University
Unearned revenue Books income of a period, but never part of taxable (or book) income. 2 types: non-taxable revenues non-deductible expenses (ex. interest income on municipal bonds) pre-tax (book) income tax expense 4. Deferred (prepaid) expense 2. Deferred (unearned ... View This Document

CHAPTER 4 Accrual Accounting Concepts Study Objectives
Prepayments fall into two categories--prepaid expenses and unearned revenues. 1. Prepaid expenses - expenses paid in cash and recorded as assets until they are used or consumed. Prepaid either prepaid expenses or unearned revenue. ... Retrieve Doc

Slide 1
1 The Adjusting Process Prepaid expenses are the advance payment of future expenses and are recorded as assets when cash is paid. prepaid expense, (2) unearned revenue, (3) accrued expense, or (4) accrued revenue. Wages owed but not c. Fees received but not yet paid. ... Visit Document

Www.justanswer.com
Classify the following adjusting entries as involving prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR). a. Revenue earned 39000. Less: Expenses accrued (22500-2250 ) 20000. Net Income 19000 ... Document Viewer

Accrued Expenses - Ch. 3 Video 5 - YouTube
3:45 Accrued Revenue - Ch. 3 Video 6 by mattfisher64 Featured 12,244 views; 5:59 Prepaid Expenses 5:00 Unearned Revenues - Ch. 3 Video 4 by mattfisher64 15,118 views; 4:02 Accrual and Cash Basis Accounting - Ch.3 Video 1 by mattfisher64 26,124 views; ... View Video