Give one example of (a) an adjusting entry that should be reversed and (b) one that should
Question:
Give one example of (a) an adjusting entry that should be reversed and (b) one that should not be reversed.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 81% (11 reviews)
Adjusting entries classified as accruals may be reversed For example an adjusting entry that usually ...View the full answer
Answered By
ANDREW KIPRUTO
Academic Writing Expert
I have over 7 years of research and application experience. I am trained and licensed to provide expertise in IT information, computer sciences related topics and other units like chemistry, Business, law, biology, biochemistry, and genetics. I'm a network and IT admin with +8 years of experience in all kind of environments.
I can help you in the following areas:
Networking
- Ethernet, Wireless Airmax and 802.11, fiber networks on GPON/GEPON and WDM
- Protocols and IP Services: VLANs, LACP, ACLs, VPNs, OSPF, BGP, RADIUS, PPPoE, DNS, Proxies, SNMP
- Vendors: MikroTik, Ubiquiti, Cisco, Juniper, HP, Dell, DrayTek, SMC, Zyxel, Furukawa Electric, and many more
- Monitoring Systems: PRTG, Zabbix, Whatsup Gold, TheDude, RRDtoo
Always available for new projects! Contact me for any inquiries
4.30+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting
ISBN: 978-1259105692
6th Canadian edition
Authors: Robert Libby, Patricia Libby, Daniel G Short, George Kanaan, Maureen Sterling
Question Posted:
Students also viewed these Business questions
-
Refer to E8-7. Required: Give the adjusting entry that should be made by Hulme Company at the end of 2020 for depreciation of the manufacturing equipment, assuming no change in the original estimated...
-
Adjusting Entry for Sales Tax during the month of June, Danielles Boutique had cash sales of $265,000 and credit sales of $153,700, both of which include the 6% sales tax that must be remitted to the...
-
On January 1, 2016, Bottle Rockets Corp. purchased a general liability insurance policy for $9,000 to provide coverage for the calendar year. 1. If the company recorded the policy as an asset when...
-
Although epoxides are always considered to have their oxygen atom as part of a threemembered ring, the prefix epoxy in the IUPAC system of nomenclature can be used to denote a cyclic ether of various...
-
For a reaction with a negative G value, which of the following statements is false? (a) The equilibrium constant K is greater than one, (b) the reaction is spontaneous when all the reactants and...
-
(a) How can Fuzzy logic be used to tune a PID controller for effective temperature controll control? (use information from Problem 10.2) (b) What are the Fuzzy input and output, and how do they...
-
What is the Malcolm Baldrige National Quality Award? LO.1
-
Shen and Smith [Ind. Eng. Chem. Fundam., 7, 100-105 (1968)] measured equilibrium-adsorption isotherms at four different temperatures for pure benzene vapor on silica gel, having the following...
-
r(0,t)=0.05+0.0051+t,t0. (i) Find the price of a two year semiannual coupon bond with coupon rate 7%. (ii) Find the price of a semiannual coupon bond with coupon rate 7% and maturity in 19 months
-
Consider the following 0x86 program: .data array DWORD 1,2,3,4,5,6,7,8,9 aravSize -(S-array)/4 ; array .code main PROC mov ecx,arraySize-1 mov esi.OFFSET array L1: mov eax. [esi] sda mov bx,2 idiv bx...
-
What are reversing entries? When are reversing entries useful?
-
For each of the following long-lived assets, indicate its nature and the related cost allocation concept. Use the following symbols: Cost Allocation Concept Nature Land DR Depreciation B Building DP...
-
Kalifo Company manufactures a line of electric garden tools that hardware stores sell. The companys controller, Will Fulton, has just received the upcoming years sales forecast for the firms three...
-
A flat sheet is in the shape of a rectangle with sides of lengths 0.400 m and 0.600 m. The sheet is immersed in a uniform electric field of magnitude 85.0 N/C that is directed at 20 from the plane of...
-
You are a new BCBA working for a therapeutic day school that serves individuals with disabilities from ages 5 through 21. Each classroom has 1 special education teacher, 1 behavior therapist (BT) and...
-
Mountain Sports, Inc., is a retailer that has engaged you to assist in the preparation of its financial statements at December 31, 2021. Following are the correct adjusted account balances, in...
-
(a) sint 1-cost (b) Please note each question has 4 options: (a), (b), (c) and (d). 1. Given x = t - sint and y = 1 - cost, then dy 1-cost t-sint = 1-cost sint sint cost-1 2. Given sin x cos y - 2 =...
-
Sometimes I forget a few items when I leave the house in the morning. For example, here are probabilities that I forget various pieces of footwear: left sock 0.2 right sock 0.1 left shoe 0.1 right...
-
Indicate whether each statement best describes the allowance method or the direct write-off method. 1. Does not predict bad debts expense. 2. Accounts receivable on the balance sheet is reported at...
-
Diamond Walker sells homemade knit scarves for $25 each at local craft shows. Her contribution margin ratio is 60%. Currently, the craft show entrance fees cost Diamond $1,500 per year. The craft...
-
(a) What is a statement of cash flows? (b) Brad Strath maintains that the statement of cash flows is an optional financial statement. Do you agree? Explain.
-
What questions about cash are answered by the statement of cash flows? Discuss.
-
Distinguish among the three activities reported in the statement of cash flows.
-
Diplomatic Security Service provides Airport Transportation and Surveillance Service to Foreign Diplomats in Guyana. The company has two support departments - Information Systems and Equipment...
-
Q1: A disparity of bargaining power between the parties to a contract may result in unfair terms but a court is not likely to consider the contract unconscionable. Group of answer choices a. True b....
-
Life Tool Manufacturing has a system in place to recall products that prove to be dangerous at some time after manufacture and distribution. This represents which element of the due care theory?...
Study smarter with the SolutionInn App