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5. Match the following terms with the appropriate definition. A. Accrued expenses B. Adjusting entry C. Adjusted trial balance D. Prepaid expenses E. Report form
5. Match the following terms with the appropriate definition. A. Accrued expenses B. Adjusting entry C. Adjusted trial balance D. Prepaid expenses E. Report form balance shect F. Accounting period G. Contra account H. Profit margin I. Unadjusted trial balance J. Natural business year 1. A 12-mon used by companies with seasonal variation that ends when a company's sales th period, activities are at their lowest point. 2. A journal entry made at the end of an accounting period to reflect a transaction or event that is not count and one or more balance sheet account, but yet recorded; affects one or more income statement ac never cash. 3. An account linked with another account and having an opposite normal balance. 4. Items paid for in advance of receiving their benefits; recorded as an asset when purchased and expensed when used. 5. Any length of time that an organization's activities are divided into and reported by financial statements. 6. A listing of accounts and balances prepared after adjustments are red 7. A balance sheet that lists items vertically in the order of assets, liabilities and equity. 8. Costs that are incurred in a period but are both unpaid and unrecorded, requiring an adjustment at the end of the period. 9. A listing of accounts and balances prepared after external transactions are recorded but before adjustments are recorded. 10. A useful measure of a company's operating results determined by dividing net income by ne sales
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