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can you answer it with an explanations, please! E3-4 Yilmaz vilmaz A.. encounters the following situations: Identi moz collects t1,750 from a customer in 2017
can you answer it with an explanations, please!
E3-4 Yilmaz vilmaz A.. encounters the following situations: Identi moz collects t1,750 from a customer in 2017 for services to be performed in 20 adjus vilmaz incurs utility expense which is not yet paid in cash or recorded. (LO Vilmaz employees worked 3 days in 2017 but will not be paid until 2018. u Yilmaz performs services for a customer but has not yet received cash or recorded the transaction. 5 Yilmaz paid +2,400 rent on December 1 for the 4 months starting December 1. 6. Yilmaz received cash for future services and recorded a liability until the service was performed. 7. Yilmaz performed consulting services for a client in December 2017. On December 31, it had not billed the client +1,200 for these services. 8. Yilmaz paid cash for an expense and recorded an asset until the item was used up. 9. Yilmaz purchased +750 of supplies in 2017; at year-end, +400 of supplies remain unused. 10. Yilmaz purchased equipment on January 1, 2017; the equipment will be used for 5 years. 11. Yilmaz borrowed +10,000 on October 1, 2017, signing an 8%, 1-year note payable. Instructions Identify what type of adjusting entry (prepaid expense, unearned revenue, accrued expense, " accrued revenue) is needed in each situation at December 31, 2017, u ing balances in selected accounts on December 31, 2017Step by Step Solution
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