J e received P 1.200,000 from its students for the spring semeste.docx

  • No School
  • AA 1
  • eduardmordy
  • 5

This preview shows page 1 - 3 out of 5 pages.

Image of page 1
J e received P 1.200,000 from its students for the spring semester that recorded in Uncanned buition and Fees The term spans four months beginning on January 2 and the college spread the revenue evenly over the months of the term Asuming the college prepares adjustments monthly, what amount of tuition revenue should the college recognize on February 28? AP 300,000 BP 600,000 C.P 800,000 D.P 900,000 E.P 1.200.000 15. Unpaid water bill was not recorded. Which of the following is not correct? A Assets will not be affected C. Expenses will be understated B. Liabilities will be understated D. Owner's equity will be understated 16. An entry requiring a debit to an expense account and a credit to an asset account is an example of an adjusting entry classified as accrued expense prepaid expense C depreciation D collectible accounts 17. After a successful drive aimed at members of a specific national association, Lifetime Publishing Company received a total of P 180.000 for 3-year subscriptions beginning April 1, 2018, and recorded this amount in the neared revenue account Assuming Lifetime records adjustments only at the end of the calendar year, the adjusting entry required to reflect the proper halaces in the accounts at December 31, 2018 is to A. Debit subscription
Image of page 2
Image of page 3

You've reached the end of your free preview.

Want to read all 5 pages?

  • Fall '19

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern

Ask Expert Tutors You can ask You can ask ( soon) You can ask (will expire )
Answers in as fast as 15 minutes