Multiple Choice
White Resources determines that it has not yet recorded the 2013 accrual for interest revenue to be received in 2014.Assuming the amount to be recorded for 2013 is $4,000, the required adjustment at December 31, 2013 is
A) debit Interest Receivable and credit Interest Revenue $4,000.
B) debit Interest Revenue and credit Interest Receivable $4,000.
C) debit Interest Payable and credit Interest Revenue $4,000.
D) Silly question: no adjusting entry is required.
Correct Answer:
Verified
Correct Answer:
Verified
Q16: If, during an accounting period, an expense
Q22: Which of the following is NOT a
Q53: Use the following information for the following
Q59: Trade discounts are generally NOT used to<br>A)
Q63: Under IFRS, equity does NOT include<br>A) long-term
Q68: The statement of financial position is useful
Q261: When current debt is refinanced by the
Q262: Which of the following statements about intangible
Q268: Sudan Ltd.'s allowance for doubtful accounts was
Q271: Nonmonetary transaction without commercial substance Malawi Auto