Isbel Company's notes to the financial statements disclose a supply shortage that is attributable to COVID-19. Which item below does NOT explain why this disclosure is relevant for accounting purposes? The disclosure has intrinsic value for financial statement users. The disclosure contains information that is material (significant) for financial statement users. The disclosure has predictive value for financial statement users. The disclosure has confirmatory value for financial statement users. Dream Theater Company uses accrual accounting and issues monthly financial statements. Th theater company's records showed the following events during September 2020: Credit sales of $5,400 for September theater productions held during September 2020 Cash collections of $2,400 cash for theater productions scheduled for October 2020. Paid 1,250 cash for September utilities Paid $300 cash for an advertisement that will appear in an October newsletter . What is Dream Theater Company's net income for September 2020? O $4.150 $6,550 O $3,850 O $6,250 Minton Company uses accrual accounting and prepares an adjusting entry for accrued interest on a note payable. The company's adjusting entry for accrued interest results in O a decrease in liabilities and stockholders' equity. O a decrease in assets and liabilities. O a decrease in assets and stockholders' equity. an increase in liabilities and a decrease in stockholders' equity. Question 15 2 pts Steenson Company uses accrual accounting. The company prepares a prepaid expense adjusting entry to adjust Prepaid Rent at the end of the current period. The company's adjusting entry requires a O a debit to a liability and a credit to an asset. a debit to an asset and a credit to a liability O debit to an expense and a credit to an asset. O a debit to an asset and a credit to an expense