AC114_TEXTBOOK_EXERCISES_TEMPLATE_-_UNIT_4(1)

AC114_TEXTBOOK_EXERCISES_TEMPLATE_-_UNIT_4(1) - Prepaid...

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Exercise 3-1 Name: Sue Ann Morton Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect answer in the outlined cells. Item Classification 1. Prepaid expense ## 2. Accrued revenue ## 3. Unearned revenue ## 4. Accrued expense ## 5. Unearned revenue ## 6. Prepaid expense ## 7. Accrued expense ## 8. Accrued expense ##
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Exercise 3-2 Name: Sue Ann Morton Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect answer in the outlined cells. Does not norm Account Answer Normally req Normally req Accounts Receivable Normally requires adjustment (AR) ## Normally req Normally req Cash Does not normally require adjustment ## Interest Payable Normally requires adjustment (AE) ## Interest Receivable Normally requires adjustment (AR) ## Joyce Carns, Capital Does not normally require adjustment ## Land Does not normally require adjustment ## Office Equipment Does not normally require adjustment
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Unformatted text preview: ## Prepaid Rent Normally requires adjustment (PE) ## Supplies Normally requires adjustment (PE) ## Unearned Fees Normally requires adjustment (UR) ## Wages Expense Normally requires adjustment (AE) ## Exercise 3-23 Name: Sue Ann Morton Section: Enter the appropriate amount or item in the shaded cells. An asterisk (*) will appear next to an incorrect amount in the outlined cells. Error (a) Error (b) Over-Under-Over-Under-Account Stated Stated Stated Stated 1. Revenue for the year would be $0 ### $21,950 ### $0 ### $0 #NAME? 2. Expenses for the year would be 0 ### 0 ### 0 ### 6,100 #NAME? 3. Net income for the year would be 0 ### 21,950 ### 6,100 ### 0 #NAME? 4. Assets at July 31 would be 0 ### 0 ### 0 ### 0 #NAME? 5. Liabilities at July 31 would be 21,950 ### 0 ### 0 ### 6,100 #NAME? 6. Owner's equity at July 31 would be 0 ### 21,950 ### 6,100 ### 0 #NAME?...
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