matching principle dictates that: a. each debit be matched with an equal credit b. revenue should be recognized in the d the fiscal year should match the calendar year year shoul matched wa re vecounting period in which t is earned The account Unearned Revenues is a(n) b. contra revenue account revenue account. c. liability account. d. asset account. On May 1, 1999, Maricel Advertising Com s u pany received $3,000 from Kathy Siska for advertising s the fees have ea include ae been eamed. The a. $1,000 credit to Unearned Fees b. $1,000 debit to Fees Eamed c. $2,000 credit to Unearned Fees d. $2,000 debit to Unearned Fees vices to be completed Apri 30, 2000. At December 31, 1999. $2,000 of ed. The adjusting entry on December 31. 1999 by Maricel will is. On June 30, Wian Marketing Services is preparing its financial statements. $600 of fees were earned in June that were not billed to clients prior to June 30. The adjusting entry at June 30 is: a. Unearned Fees.... Fees Eamed Fees Earned. Accounts Receivable Unearned Fees... 600 600 600 600 600 600 600 600 b. Accounts Receivable.... vable c. Fees Eamed a, Gardner Company purchased a truck from Kutner Co. by issuing a 6-month 10%(Annuae Rate note payable for $30,000 on November 1. On December 31, the accrued expense adjusting entry is: a. No entry is required. b. Interest Expense Interest Payable. Interest Payable Interest Payable 3,000 6,000 500 3,000 6,000 500 c. Interest Expense. d. Interest Expense 1a additional supplies were purchased for $45O. A indicates $700 of supplies on hand. The adjusting of Supplies for Lu Inc. was $900. During the year an inventory count 650 450 250 650 the end of the year entry at December 31, is: at December 650 450 250 650 upplies Supplies Expense Supplies Supplies d. Supplies Expense et Cruise Lines purchased a five-year insurance policy for its ships on April 000. Assuming that April 1 is the effective date of the policy, the 1, 1999 for $100, adjusting entry on December 31, 1999 is a. Prepaid Insurance Insurance Expense Prepaid Insurance Prepaid Insurance Prepaid Insurance. Cost less accumulated depreciation for a plant asset is often called 15,000 15,000 20,000 5,000 15,000 15,000 20,000 5,000 b. Insurance Expense c. Insurance Expense d. Insurance Expense a. book value b. market value c. original value d. none of the above /6. On January 2, Van Alstyne Food Services pays $3,000 cash for office supplies Office Supplies Expense is debited because the supplies are expected to be used before financial statements are prepared on June 30. At June 30, there are $300 of office supplies on hand. The adjusting entry is: a. Office Supplies Office Supplies Expense. Office Supplies Expense Office Supplies Office Supplies On May 1, Walsh Inc. credited Fees Eamed when $4,000 cash was received for 300 2,700 2,700 300 300 2,700 2,700 300 b. Office Supplies c. Office Supplies Expense d. Office Supplies Expense future services. On June 30, the next date financial statements are prepared, $600 of the s have not been rendered. The credit to Fees Earned of $600 June 30 adjusting entry will include a b debit to Fees Earned of $600 c debit to Unearned Fees of $3.400 d credit to Unearned Fees of $3,400