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Part B Identify the following situations either Accrued Expense, Prepaid Expense, Accrued Revenue or Uneamed Revenue (a) Wong paid RM1,000 cash in advance for four
Part B Identify the following situations either "Accrued Expense, Prepaid Expense, Accrued Revenue or Uneamed Revenue" (a) Wong paid RM1,000 cash in advance for four months' office rental. (b) Wong received cash for future services and recorded a liability until the service was performed (c) Wong performed consulting services to a client but did not billed the client for services provided amounting RM2,000. (d) Wong incurred salaries and wages expenses and will be paid at a later date. (4 marks) (Total: 25 marks)
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