Adjusting entry at year end on the work sheet, Accounting Basics

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Adjusting entry at year end on the work sheet

On August 1, a company collects revenue in advance for the next twelve months and credits a liability account. The adjusting entry at year end on the work sheet would

A.increase a liability account

B.decrease an asset account

C.decrease a revenue account

D.decrease a liability account

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Accounting Basics: Adjusting entry at year end on the work sheet

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Accounting Basics: Adjusting entry at year end on the work sheet

Reference No:- TGS092497

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Expected inflation and the market risk premium

Q : Expected inflation rate based problem

Q : Introduction to two-stock portfolio

Q : Tax consequence as a result of partnership

Q : Adjusting entry at year end on the work sheet

Q : Fixed selling and administrative costs

Q : What is the fund required rate of return

Q : What was companys revenue for the year

Q : Stock-holders equity at the end of the year

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Adjusting entry at year end on the work sheet

Reference No:- TGS092497

Recent Questions Asked Accounting Basics

Q : Expected inflation and the market risk premium

Q : Expected inflation rate based problem

Q : Introduction to two-stock portfolio

Q : Tax consequence as a result of partnership

Q : Adjusting entry at year end on the work sheet

Q : Fixed selling and administrative costs

Q : What is the fund required rate of return

Q : What was companys revenue for the year

Q : Stock-holders equity at the end of the year

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