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LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct? Unadjusted
- LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct?
| Unadjusted Trial Balance | ||
| Account Title | Debit | Credit |
| Equipment (Fixed Asset) | 100,000 | |
| Accumulated Depreciation | 10,000 | |
| Prepaid Rent | 15,000 | |
| Unearned Revenue | 1,000 |
- LO 4.3 Review the excerpted Unadjusted Trial Balance Account Titles. If Unearned Revenue is reduced by $500 at period end, which statement is correct?
| Unadjusted Trial Balance | ||
| Account Title | Debit | Credit |
| Equipment (Fixed Asset) | 100,000 | |
| Accumulated Depreciation | 10,000 | |
| Prepaid Rent | 15,000 | |
| Unearned Revenue | 1,000 |
Unearned Revenue will decrease with a Credit
Revenue Earned will increase with a Debit
Revenue Earned will increase with a Credit
No adjusting entry is required at period end
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Frank Woods Business Accounting
Authors: Frank Wood, Alan Sangster
9th Edition
0273655523, 9780273655527
