Classifying adjusting entries Obj. 1, 2, 3 The following accounts were taken from the unadjusted trial balance
Question:
Classifying adjusting entries Obj. 1, 2, 3 The following accounts were taken from the unadjusted trial balance of Murray Co., a congressional lobbying firm. Indicate whether or not each account would normally require an adjusting entry. If the account normally requires an adjusting entry, use the following notation to indicate the type of adjustment:
AE—Accrued Expense AR—Accrued Revenue PE—Prepaid Expense UR—Unearned Revenue To illustrate, the answer for the first account follows:
Account Answer Accounts Receivable Normally requires adjustment (AR).
Building Cash Common Stock Interest Receivable Land Prepaid Rent Salaries Payable Supplies Unearned Fees Wages Expense AppendixLO1
Step by Step Answer:
Corporate Financial Accounting
ISBN: 9781337398176
15th Edition
Authors: Carl Warren, Jefferson Jones