Tutorial_Solution_-_Chapter_4 - E49 Req. 1 and 2 a. b. c....

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
E4–9 Req. 1 and 2 a. Accrued revenue -- revenue earned before cash is collected. Trade receivables (+A). .......................................................... 2,100 Service revenue (+R +SE). ....................................... 2,100 Amount is given. b. Deferred revenue -- cash received before revenue is earned. Deferred storage revenue ( - L). .............................................. 400 Storage revenue (+R +SE). ....................................... 400 Storage revenue earned in fiscal year 2011 ($2,400 x 1/6) c. Accrued expense -- expense incurred before cash is paid. Wages expense (+E - SE). ................................................... 2,900 Wages payable (+L). .................................................... 2,900 Amount is given. d. Deferred expense -- cash paid before expense is incurred. Advertising expense (+E - SE). ........................................... 450
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/29/2011 for the course MANAGEMENT MGTB05 taught by Professor Georgequanfun during the Fall '11 term at University of Toronto- Toronto.

Page1 / 2

Tutorial_Solution_-_Chapter_4 - E49 Req. 1 and 2 a. b. c....

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online