QUESTION 3 A company has the following transactions: 4 1. Pay employees\' salari

Question

QUESTION 3 A company has the following transactions: 4 1. Pay employees' salaries for the current period 2 Pay rent in advance 3. Pay dividends to stockholders in the current period 4. Receive (but do not pay) a utility bill 5. Use supplies previously purchased How many of these transactions result in an expense being reported in the current period using accrual-basis accounting? 2. 4 QUESTION 4 A company has the following transactions 1. Pay employees' salaries for the current period 2. Pay rent in advance 3 Pay dividends to stockholders in the current period 4. Receive (but do not pay) a utility bill. 5. Use supplies previously purchased How many of these transactions result in an expense being reported in the current period using cash-basis accounting? 2. 03. QUESTION 5

Explanation / Answer

q3) answer 3 Salaries paid for the current period use supplies previously purchased receiving utility bill q4) answer 2 salaries paid for the current period pay rent in advance (dividends is not an expense)

Related Questions

Navigate

• Browse (All)
• Browse Q
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.