Solved

Match the Following Types of Accounts with Each of the Following

Question 231

Matching

Match the following types of accounts with each of the following transactions.

Premises:

Responses:

Used to record wages owed, but not paid.

Prepaid expense

Used to record revenue received in advance.

Accrued revenue

Used to record expiration of prepaid insurance.

Unearned revenue

Used to record revenue earned but not received.

Accrued expense

Premises:

Used to record wages owed, but not paid.

Used to record revenue received in advance.

Used to record expiration of prepaid insurance.

Used to record revenue earned but not received.

Responses:

Prepaid expense

Accrued revenue

Unearned revenue

Accrued expense

Correct Answer:

Premises:

Responses:

Used to record wages owed, but not paid.

Used to record revenue received in advance.

Used to record expiration of prepaid insurance.

Used to record revenue earned but not received.

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