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The adjusting entry to recognize prepaid expense is necessary: ().

A、When an expense is paid in advance.

B、When an expense has been neither paid nor recorded as of the end of the accounting period.

C、Whenever an expense remains unpaid at the end of an accounting period.

D、Because the accountant is likely to forget to pay these unrecorded expenses.

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更多“The adjusting entry to recognize prepaid expense is necessary: ().”相关的问题

第1题

Adjusting entry英译中

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第2题

One of the differences between adjusting entry and normal entry is that there is no n

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第3题

Of the following adjusting entries, which one results in an decrease an asset and the

recognition of expense at the end of an accounting period？ ()

A、The entry to accrue salaries owed to employees at the end of the period.

B、The entry to record revenue earned but not yet collected or recorded.

C、The entry to record earned portion of rent previously received in advance from a tenant.

D、The entry to write off a portion of unexpired insurance.

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第4题

Of the following adjusting entries, which one results in an increase in liabilities an

d the recognition of an expense at the end of an accounting period？ ()

A、The entry to accrue salaries owed to employees at the end of the period.

B、The entry to record revenue earned but not yet collected or recorded.

C、The entry to record earned portion of rent previously received in advance from a tenant.

D、The entry to write off a portion of unexpired insurance.

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第5题

The CPA firm found that net income had been overstated. Which of the following errors

could be the cause？ ()

A、Failure to covert unexpired insurance to insurance expense

B、No entry made to record purchase of land for cash on the last day of the year

C、Failure to record payment of an account payable on the last day of the year

D、Failure to make an adjusting entry to record revenue that had been earned but not yet billed to customers.

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第6题

A firm found that net income had been overstated. Which of the following errors could

be the cause？ ()

A、No entry made to record purchase of land for cash on the last day of the year.

B、Failure to record payment of an account payable on the last day of the year.

C、Failure to record depreciation expense for the period.

D、Failure to make an adjusting entry to record revenue that had been earned but not yet billed to customers.

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第7题

The adjusting entry to recognize an unrecorded revenue is necessary: ().

A、When an revenue is received in advance.

B、When a revenue has been neither received nor recorded as of the end of the accounting period.

C、Whenever a revenue remains unreceived at the end of an accounting period.

D、Because the accountant is likely to forget to pay these unrecorded revenue

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第8题

6 Ordan received a statement from one of its suppliers, Alta, showing a balance due of $3,

980. The amount due

according to the payables ledger account of Alta in Ordan’s records was only $230.

Comparison of the statement and the ledger account revealed the following differences:

1 A cheque sent by Ordan for $270 has not been allowed for in Alta’s statement.

2 Alta has not allowed for goods returned by Ordan $180.

3 Ordan made a contra entry, reducing the amount due to Alta by $3,200, for a balance due from Alta in Ordan’s

receivables ledger. No such entry has been made in Alta’s records.

What difference remains between the two companies’ records after adjusting for these items？

A $460

B $640

C $6,500

D $100

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第9题

For a business that makes advance provision for uncollectible receivables (a) Journalize the entries to record the following:(1 ) Record the adjusting entry at December 31 , the end of the fiscal year,to provide for doubtful accounts. The accounts receivable account has a balance of $800,000, and the contra asset account before adjustment has a debit balance of $ 600. Analysis of the receivables indicates doubtful accounts of $20000.(2) In March of the following fiscal year, the $550 owed by Flake Co. on account is written off as uncollectible.(3) Eight months later, $200 of the Flake Co. account is reinstated and payment of that amount is received.(4) In October, $400 is received on the $600 owed by Doe Co. and the remainder is written off as uncollectible.(b) Based on the data in (a) (1 ) above, what is the net realizable value of the accounts receivable as reported on the balance sheet as of December 31 ?(c)Assuming that the business had been following the direct write-off procedure in accounting for uncollectible receivables, journalize the entries to record the following:(1 ) Recorded the write-off of account of Flake Co. [(a) (2) above].(2) Reinstated account of Flake Co. for $200 and recorded payment of that amount received [(a) (3) above].(3) Recorded the receipt of $400 from Doe Co. in (a) (4) above and wrote off the remainder owed as uncollectible.

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