83%(18)15 out of 18 people found this document helpful
This preview shows page 1 out of 1 page.
(3-1)Classify the following items as (a) prepaid expense, (b) unearned revenue, (c) accrued revenue,or (d) accrued expense.1.A three-year premium prepaid on a fire insurance policy.A (Prepaid expense)2.Fees earned but not yet received.C (Accrued revenue)3.Fees received but not yet earned. .B (Unearned revenue)4.Salary owed but not yet paid.D (Accrued expense)5.Subscriptions received in advance by magazines publishers.B (Unearned revenue)
End of preview. Want to read the entire page?
Upload your study docs or become a
Course Hero member to access this document
Accounting, Revenue, Generally Accepted Accounting Principles, three year, Accrued expense, prepaid expense, 2 900