bDoes the vertical analysis indicate a favorable niavbrabit OBJ. 1, 2, 3 c) unea

Question

bDoes the vertical analysis indicate a favorable niavbrabit OBJ. 1, 2, 3 c) unearned EX 3-1 Classifying types of adjustments Classify the following items as (a) accrued revenue, (b) accrued expense, C revenue, or (d) prepaid expense: 1. Bill for ads that appeared in prior month's local newspaper 2. Fees received but not yet earned. 3. Fees earned but not yet received. 4. Premium paid on a one-year insurance policy 5. Rent received in advance for rental of office space. 6. Supplies on hand. 7. Rent paid in advance. 8. Wages owed but payable in the following period.

Explanation / Answer

1 Accrued Expenses 2 Unearned revenue 3 Accrued Revenue 4 Prepaid expense 5 Unearned revenue 6 Accrued Expenses 7 Prepaid expense 8 Accrued Expenses

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