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Match the Following Transactions with Types of Adjustments

Question 403

Matching

Match the following transactions with types of adjustments.

Premises:
Used to record wages owed, but not yet paid.
Used to record expiration or use of prepaid insurance.
Used to record revenue earned for which cash was received in advance.
Used to record revenue earned for which cash has not been received.
Responses:
Unearned revenue
Prepaid expense
Accrued expense
Accrued revenue

Correct Answer:

Used to record wages owed, but not yet paid.
Used to record expiration or use of prepaid insurance.
Used to record revenue earned for which cash was received in advance.
Used to record revenue earned for which cash has not been received.
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