acct final
¡Supera tus tareas y exámenes ahora con Quizwiz!
Unearned Revenue is classified as a(n) ________ account.
liability
An adjustment for unearned revenue will debit
Unearned Service Revenue and credit Service Revenue.
The accumulated depreciation account is classified as a(n) ________ account.
contra asset
Which of the following accounts is used to record the payment for expenses that will affect more than one accounting period
prepaid expenses
To determine the book value of an asset, the cost of a depreciable asset is
reduced by accumulated depreciation
An adjusting entry is made to debit a liability account and credit a revenue account.
true
Which of the following requires an adjusting entry when services are performed?
unearned revenue
