Principles of Financial Accounting.
Principles of Financial Accounting.
22nd Edition
ISBN: 9780077632892
Author: John J. Wild
Publisher: McGraw Hill
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Chapter 3, Problem 3QS

Identifying accounting adjustments

Classify the following adjusting entries as involving prepaid expenses (PE), unearned revenues (UR), accrued expenses (AE), or accrued revenues (AR).

____________a. To record revenue earned that was previously received as cash in advance.

____________b. To record wages expense incurred but not yet paid (nor recorded).

____________c. To record revenue earned but not yet billed (nor recorded).

____________d. To record expiration of prepaid insurance.

____________e. To record annual depreciation expense.

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Principles of Financial Accounting.

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