Topic: Discussion Question- Wee X .instructure.com/courses/9662/discussion_topics/98584 8. If a company initially records prepaid expenses with debits to expense accounts, what type of account is debited in the adjusting entries for those prepaid expenses? 9. Review the balance sheet of Apple in Appendix A (see the end of the book) Identify one asset account that requires adjustment before annual financial statements can be prepared. What would be the effect on the income statement if this asset account were not adjusted? (Number not required, but comment on over- or understating of net income.) 10. Review the balance sheet of Google in Appendix A (see the end of the book). Identify the amount for property and equipment. What adjusting entry is necessary (no numbers required) for this account when preparing financial statements? Search entries or author Unread HTML Editor BIUA A I EEE E x x, E Paragraph 12pt T T & 6. The contra account that is used when recording and reporting the effects of depreciation is called the amortization of assets.It is the periodic transfer of the cost of an intangible asset to expense. 7. Primary examples of accrued expenses are salaries payable and interest payable Accrued revenues are revenues earned in one accounting period but not received until financial statements