Which of the following entries records the utility bill incurred but not paid from the water company?

In 2013, Abbott Company performs work for a customer and bills the customer $10,000; it also pays expenses of $3,000. The customer pays Abbott in 2014. If Abbott uses the cash basis of accounting, then Abbott will report:

Which account will have a zero balance after a company has journalized and posted closing entries?

Classify the item : Advertising

1. Little Corporation received $5,000 from a customer for whom it is to perform work in the future, debiting Cash and crediting Unearned Revenue. At the end of the accounting period, Little has earned $2,000 of the revenue. The adjusting entry will require a:

Classify the item : Capital

Classify the item : Discount Allowed

Classify the item : Discount Received

Classify the item : Drawings

Refers to the allocation of the cost of the asset over its estimated useful life.

Classify the item : Fixtures and Fittings

Maria inventoried the office supply cabinet and determined $267 in supplies have been used in the last month. She will now

Classify the item : Carriage Inward

Interest incurred but not yet paid.

Classify the item : Office Rent

We purchased Indian Insurance (Prepaid Insurance) on June 1st, 2020 for $252. What is the Insurance Expense as of December 31, 2020?

Adjustments for prepaid expenses:

Adjustments for unearned revenues:

Classify the item : Bank Overdraft

Classify the item : Insurance

Classify the item : Long Term Loan

Classify the item : Trade payable

Classify the item : Purchase

Classify the item : Mortgage