Question
32. The 12/31/X8 adjusting entry for MRM Corp. for an unpaid and previously unrecorded December, 20X8 utility bill amounting to $500 would be (assume the
32. The 12/31/X8 adjusting entry for MRM Corp. for an unpaid and previously unrecorded December, 20X8 utility bill amounting to $500 would be (assume the utility bill will be paid by MRM Corp. sometime in January
a. Utilities Expense
500
Prepaid Utilities
500
b. Prepaid Utilities
500
Utilities Payable
500
c. Utilities Expense
500
Utilities Payable
500
d. Utilities Payable
1500
Prepaid Utilities
500
E none of these
32. The 12/31/X8 adjusting entry for MRM Corp. for an unpaid and previously unrecorded December, 20X8 utility bill amounting to $500 would be (assume the utility bill will be paid by MRM Corp. sometime in January
a. Utilities Expense
500
Prepaid Utilities
500
b. Prepaid Utilities
500
Utilities Payable
500
c. Utilities Expense
500
Utilities Payable
500
d. Utilities Payable
1500
Prepaid Utilities
500
E none of these
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Introduction to Managerial Accounting
Authors: Peter Brewer, Ray Garrison, Eric Noreen
7th edition
978-1259675539, 125967553X, 978-1259594168, 1259594165, 78025796, 978-0078025792
