BT$12203$ BUSINESS ACCOUNTING

SEMESTER $1$ SESSION $2023/2024$

TUTORIAL CHAPTER $3$

Matching the statements below with the appropriate terms $($a$)$ prepaid expenses, $($b$)$ unearned revenue, $($c$)$ accrued revenue, $($d$)$ accrued expenses:

$($a$)$ A company has provided consulting services to a client, and the client will pay for the services at the end of the project.

$($b$)$ An annual subscription fee has been paid for a magazine, but only two out of the twelve issues have been received so far.

$($c$)$ A customer has made a down payment for a custom$-$made product that will be delivered in three months.

$($d$)$ Interest earned on a savings account, which will be credited to the account at the end of the month.

$($e$)$ A business has paid a deposit to secure a rental space for a future event.

$($f$)$ An employee has taken unpaid leave this month, and the unpaid salary will be deducted from the next month's paycheck.

$($g$)$ A company has received a grant to fund a research project that will start in six months.

$($h$)$ Rent paid for the current month's office space.