ch.3 questions review

ch.3 questions review - Revenues & Expenses Accrual...

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Expenses Other  Terms  Review  Potpourri $ 100 $ 100 $ 100 $ 200 $ 200 $ 200 $ 300 $ 300 $ 300 $ 400 $ 400 $ 400 $ 500 Dr/Cr  Revisited $ 400 $ 100 $ 200 $ 300 $ 500 Accrual  Basis $ 100 $ 200 $ 300 $ 400 $ 500 $ 500 $ 500
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The type of income statement account that  reports amounts charged for providing goods or  services to customers. What are Revenues? Back to Board
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The account used to record the cost of electrical  services used during the current period. What is “Electricity Expense” (or Utilities  Expense)? Back to Board
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The account used to record rent paid two months in  advance. What is “Prepaid Rent”? Back to Board
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The second line shown in the heading of the  Income Statement. What is “Income Statement”? Back to Board
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The line of the income statement that combines  all revenues and expenses. What is Net Income? Back to Board
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ch.3 questions review - Revenues & Expenses Accrual...

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