Ch 3 Notes - prepaid. ← ←- Prepaid = Asset ←-...

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Financial Accounting Ch. 3 Notes - Matching  Match revenues with expenses for time period. - Deferral  Cash happened before even occurred. - Accrual  Cash happened after event. - If your looking at a Deferral… Revenue Earnings. Expense
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Unformatted text preview: prepaid. ← ←- Prepaid = Asset ←- Unearned = Liabilities ← ←- Straight Line Cost – Salvage Value / Useful Life ← ←- Contra Account Account that always goes with another account. • Accumulated Depreciation...
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This note was uploaded on 10/03/2011 for the course BUS 222 taught by Professor Jennings during the Spring '07 term at University of Maine Orono .

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