Identifying deferral and accrual events
Required
Identify each of the following events as an accrual, deferral, or neither.
a. Incurred other operating expenses on account.
b. Recorded expense for salaries owed to employees at the end of the accounting period.
c. Paid a cash dividend to the stockholders.
d. Paid cash to purchase supplies to be used over the next several months.
e. Purchased land with cash.
f. Provided services on account.
g. Collected accounts receivable.
h. Paid one year’s rent in advance.
i. Paid cash for utilities expense.
j. Collected $2,400 in advance for services to be performed over the next 12 months.