Unearned Revenue Vs Prepaid Expenses

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 ... Retrieve Doc

Chapter 3 Using Accrual Accounting To Measure Income
Before financial statements are prepared, prepaid expenses are adjusted to reflect the amount of the Credit Service Revenue Unearned Revenue Unearned Revenue Unearned Revenue Adjusting Accrued Expenses Accrued Expense An expense of an Organization that hasn’t been paid for by Cash ... Fetch Document

Chapter 3 (part 2) - San Francisco State University
Unearned revenues b. Prepaid expenses Accrual Accounting and the Financial Statements * a. Accounts Receivable 250 Service Revenue 250 To accrue service revenue. (f) Unearned Service Revenue 150 Service Revenue 150 To record unearned revenue that has been earned. (g) ... Access Document

MULTIPLE CHOICE QUESTIONS CHAPTER 2 - UCF College Of Business ...
Prepaid Insurance. Unearned Revenue. Insurance Expense. Interest Receivable. Which of the following errors will cause an imbalance in the trial balance? Omission of a transaction in the journal. Understatement of expenses and an understatement of liabilities. ... Content Retrieval

PowerPoint Presentation - Financial Accounting And Accounting ...
Prepaid Expenses. Expenses paid in cash and recorded as assets before they are used or consumed. Prepayments 3. Accrued Revenues. Revenues earned but not yet received in cash or recorded. Unearned service revenue (L) 33,750 Service revenue (SE) ... Access Full Source

Chart Of Accounts - Wikipedia, The Free Encyclopedia
270 Accrued Expenses; xxx Unearned Revenue; Stockholders' Equity Accounts. 300 Common Stock (Share Capital), 350 Retained Earnings (Revenue Reserves), cash in bank, building, inventory, prepaid rent, goodwill, accounts receivable ... Read Article

INTRODUCTION 1 PERSONAL
Prepaid Expenses 4 ASSETS, REVENUE AND EXPENSE RECOGNITION Expenses vs. Capital Assets..122 Current Assets vs. Fixed Assets Unearned Revenue ... View Document

Balance Sheet - Inventors
- Prepaid expenses -- Goods, benefits or services a business buys or rents in advance. Examples are office supplies, insurance protection and floor space. Long-term Investments. ... Read Article

PowerPoint Presentation
(prepaid expenses and unearned revenues) OR Accruals (accrued revenues and accrued expenses) TYPES OF ADJUSTING ENTRIES Prepayments Prepaid Expenses Expenses paid in cash Unearned Revenue Oct. 31 400 Oct. 2 1,200 31 800 Date Account Titles ... Read Here

CHAPTER 3 PREPARING FINANCIAL STATEMENTS - Harper College ...
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