Question
6. JJ's roofing company entered into a contract with Mr. Peterson on March 2, 2015, to fix a hole in the family's roof. JJ's roofing
6. JJ's roofing company entered into a contract with Mr. Peterson on March 2, 2015, to fix a hole in the family's roof. JJ's roofing fixed the hole on March 20 and sent a bill to the client on March 25. JJ's roofing received the payment on April 1. When should JJ's roofing have recorded the revenue? | |||||||||||||
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19. Which of the following is a permanent account? | ||||||||||||||||||||||||||||||||||||||||
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16. In its 2016 annual report, GE reported the following: "We provide for estimated product warranty expenses when we sell the related products." This note exemplifies GE's use of what principle? | ||||||||||||||||||||||||||||||||||||||||
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18. Sisco Foods purchased a two-year fire and extended coverage insurance policy on August 1, 2015, and charged the $4,200 premium to Insurance expense. At its December 31, 2015, year-end, Sisco Foods would record which of the following adjusting entries? | ||||||||||||||||||||||||||||||||||||||||
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