Question: Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided. Terms: A. Prepaid Expenses B. Unearned Revenues

Match the statements below with the appropriate terms by entering the appropriate letter code in the spaces provided.

                Terms:

A.      Prepaid Expenses

B.      Unearned Revenues

C.      Accrued Revenues

D.      Accrued Expenses

<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Statements:

1.       A revenue not yet earned; collected in advance___

2.       Office supplies on hand that will be used in the next period___

3.       Subscriptions revenue collected; already earned___

4.       Rent not yet collected; already earned___

5.       An expense incurred; not yet paid or recorded___

6.       A revenue earned; not yet collected or recorded___

7.       An expense not yet incurred; paid in advance___

8.       Interest expenses incurred; not yet paid___

Step by Step Solution

3.34 Rating (148 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock

Here are the matches for the statements with the appropriate terms 1 A revenue not yet earned collec... View full answer

blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!