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What is the answers form 36-40. Please 36) A company recetves paymena frons eqne o its eastomers on August 5 for serviees 21, Which of

What is the answers form 36-40. Please image text in transcribed
36) A company recetves paymena frons eqne o its eastomers on August 5 for serviees 21, Which of the following entries wosuld be recorded iu the company ACCrAt I basie accounting? n) loss 37) Which of the following entries would be recorded by a company that uses the cash basts.method of n A) [Rent Expense lar avable 1,000 1,000 1,000 38) At the time the transaction occurred, which of the following would result in an increase in net 38) - income under the accrual basis of accounting, but would not result in an increase in net under cash basis accounting? income A) use of supplies purchased earlier B) purchase of supplies for cash C) performance of services on account D) receipt of cash for services that were performed earlier on account 39) Which of the following statements is TRUE of accrual basis accounting? 39 A) Accrual basis accounting always results in greater net income than cash basis accounting B) Accrual basis accounting is required by Generally Accepted C) Accrual basis accounting records revenue only when cash is received. D) Accrual basis accounting records expenses only when cash has been paid for them. Accounting Principles (GAAP) ) The matching principle states that A) financial statements can be prepared for specific periods B) companies should record revenue when it has been earned C) a business's activities can be sliced into small time segments ) all expenses should be recorded when they are incurred during the period

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