In expense method, purchase of supplies are initially recorded as supplies expenses. true or false?

How much will be the new beginning capital of the company if it's ending capital from the previous priod amounted to 78,000 and after earing 25,000 net income?

Expenses already use but are not yet paid by the business are called___ expense.

Adjusting journal entries are done...

Income from services already rendered to the costumer without having any collections made are called?

Income already paid by the client even the corresponding services are not yet rendered are called____ income

Adjusting journal entries are the result of corrections made on the worksheet and the result from the passage of time. True or False?

On January 2019, Dormitory collected advanced rent payment from John. Domitory should record prepaid rent expenses. true or false?

On January 2019, Dormitory collected advanced rent payment from miya. Dormitory should record rent income immediately. True or False?