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You are watching: Adjusting entries are primarily needed for

Solution-8 correct Answer is alternative B acquisition office offers on Account. Explnation: Account Entry will certainly be do Dr. Office provides Cr. Account Payable It will increase…View the complete answer
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Transcribed picture text: i m sorry of the adhering to would boost assets and also increase liabilities? carry out services to customers on account purchase office offers on account Pay dividend to stockholders receive a utility bill but do no pay that immediately quantities owed to service providers for supplies purchased on account are defined as: Cash accounts Receivable account Payable provides Expense. To buy office devices on account has what impact on the accountancy equation? Stockholders' same decreases and assets rise B. Liabilities increase and assets increase. Assets decrease and also liabilities decreases. Heritage increase and also stockholders' same increases. Waiting France accumulated cash ~ above February 4 indigenous the sale of a ticket come a client on January 26. The flight took ar on April 5. According to the revenue recognition principle, in i m sorry month need to Air France have recognized this revenue? January. February April. Same in every of the 3 months. The revenue acknowledgment principle slates that: Revenue should be well-known in the duration the cash is received. Revenue need to be known in the duration earned Revenue need to be well-known in the balance sheet. Revenue is a ingredient of usual stock13.Which that the following is (are) true concerning the qualities of adjusting entries? Adjusting entries reduce the balance of revenue, expense, and dividend accounts to zero. Adjusting entries enable for the ideal recognition of revenue. Adjusting entries allow for the proper recognition that expenses. Adjusting entries permit for the ideal recognition that revenue and also expenses. Adjusting entries are mainly needed because that Cash-basis accounting. Accrual-basis accountancy Current worth accounting. Manual accounting systems. As soon as a newspaper sells subscriptions to customers, that is an example of: an accrued expense. An accrued revenue. A prepaid expense. An unearned revenue. Job-related fraud: A Is the usage of one's occupation for personal enrichment through the intended misuse or misapplication the the employing organization's resources. Occurs in only a few organizations and also generally entails minor amounts. Will certainly be prevented when companies employ an auditor. Is committed just by lower-level employees.