Matching
Match the items below by entering the appropriate code letter in the space provided.
Premises:
An accounting period of 12 months or 52 weeks
A Trial Balance prepared after the adjusting entries have been made
Revenues earned but not yet received
An accounting period of less than 12 months
Cash which has been received in advance of services being performed
A cost allocation process
A contra asset account
Expenses paid before they are incurred
Expenses incurred but not yet paid
Original cost less accumulated depreciation
Responses:
Adjusted Trial Balance
Unearned revenue
Prepaid expenses
Accrued expenses
Depreciation
Accrued revenues
Fiscal year
Interim period
Carrying amount
Accumulated depreciation
Correct Answer:
Premises:
Responses:
Expenses incurred but not yet paid
Accrued expenses
An accounting period of less than 12 months
Interim period
Original cost less accumulated depreciation
Carrying amount
Cash which has been received in advance of services being performed
Unearned revenue
An accounting period of 12 months or 52 weeks
Fiscal year
Expenses paid before they are incurred
Prepaid expenses
A Trial Balance prepared after the adjusting entries have been made
Adjusted Trial Balance
Revenues earned but not yet received
Accrued revenues
A contra asset account
Accumulated depreciation
A cost allocation process
Depreciation
Premises:
Expenses incurred but not yet paid
An accounting period of less than 12 months
Original cost less accumulated depreciation
Cash which has been received in advance of services being performed
An accounting period of 12 months or 52 weeks
Expenses paid before they are incurred
A Trial Balance prepared after the adjusting entries have been made
Revenues earned but not yet received
A contra asset account
A cost allocation process
Responses:
Accrued expenses
Interim period
Carrying amount
Unearned revenue
Fiscal year
Prepaid expenses
Adjusted Trial Balance
Accrued revenues
Accumulated depreciation
Depreciation
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