Which of the following events would not require an end-of-year adjusting entry?
A) Purchasing supplies for cash
B) Paying for one year's rent on July 1
C) Providing services for cash
D) Each of these answer choices would require an end-of-year adjusting entry.

Question

Quizplus · Accepted Answer

Providing services for cash would not require an end-of-year adjusting entry because the revenue and expense would have already been recorded at the time the service was provided. The other options involve prepaid or accrued expenses or revenues that require adjustments at the end of the year.

Which of the Following Events Would Not Require an End-Of-Year