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Match the Following Types of Adjustments (A Though D)with the Transactions

Question 81

Matching

Match the following types of adjustments (a though d)with the transactions.

Premises:

Responses:

Used to record revenue earned for which cash has not been received.

Accrued expense

Used to record wages owed, but not yet paid.

Unearned revenue

Used to record expiration or use of prepaid insurance.

Accrued revenue

Used to record revenue earned for which cash was received in advance.

Prepaid expense

Premises:

Used to record revenue earned for which cash has not been received.

Used to record wages owed, but not yet paid.

Used to record expiration or use of prepaid insurance.

Used to record revenue earned for which cash was received in advance.

Responses:

Accrued expense

Unearned revenue

Accrued revenue

Prepaid expense

Correct Answer:

Premises:

Responses:

Used to record revenue earned for which cash has not been received.

Used to record wages owed, but not yet paid.

Used to record expiration or use of prepaid insurance.

Used to record revenue earned for which cash was received in advance.