In the Space Below,state Whether Each Situation Is a Deferral

In the space below,state whether each situation is a deferral or an accrual.
______a.Unrecorded interest on savings bonds is $765.
______b.Property taxes that have been incurred but that have not yet been paid or recorded amount to $1,034.
______c.Legal fees of $2,890 were collected in advance.By year end,70 percent were still unearned.
______d.Prepaid Insurance had a $900 balance prior to adjustment.By year end,25 percent was still unexpired.
______e.Salaries earned by employees by year end but not yet paid or recorded amounted to $1,655.
______f.Services totaling $690 have been performed but not yet recorded or billed.

Correct Answer:

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a.Accrual b.Accrual ...

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