help needed

1. Define two generally accepted accounting principles that relate to adjusting the accounts. 2. Susan Zupan, a lawyer, accepts a legal engagement in March, performs the work in April, and is paid in May. If Zupan's law firm prepares monthly financial statements, when should it recognize revenue from this engagement? Why? 3. Why do accrual-basis financial statements provide more useful information than cash-basis statements? 4. Distinguish between the two categories of adjusting entries, and identify the types of adjustments applicable to each category. 5. What is the debit/credit effect of a prepaid expense adjusting entry? 6. J. Brownlee Company purchased equipment for $18,000. By the current balance sheet date, $6,000 had been depreciated. Indicate the balance sheet presentation of the data. 6. J. Brownlee Company purchased equipment for $18,000. By the current balance sheet date, $6,000 had been depreciated. Indicate the balance sheet presentation of the data. 7. What is the debit/credit effect of an unearned revenue adjusting entry? 8. Whistler Corp. performed services for a customer but has not yet recorded payment, nor has it recorded any entry related to the work. Which of the following accounts are involved in the adjusting entry: (a) asset, (b) liability, (c) revenue, or (d) expense? For the accounts selected, indicate whether they would be debited or credited in the entry. 9. A company fails to recognize an expense incurred but not paid. Indicate which of the following accounts is debited and which is credited in the adjusting entry: (a) asset, (b) liability, (c) revenue, or (d) expense. 10. One-half of the adjusting entry is given below. adjusting entry: (a) asset, (b) liability, (c) revenue, or (d) expense. 10. One-half of the adjusting entry is given below. Indicate the account title for the other half of the entry. a. Salaries and Wages Expense is debited. b. Depreciation Expense is debited. c. Interest Payable is credited. d. Supplies is credited. e. Accounts Receivable is debited. f. Unearned Service Revenue is debited. 11. "An adjusting entry may affect more than one balance sheet or income statement account." Do you agree? Why or why not