Match each transaction with its related term: Terms Definitions

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter4: The Adjustment Process
Section: Chapter Questions
Problem 4PB: Identify which type of adjustment is associated with this account, and what the other account is in...
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are the following
a. Adjusting Entries
b. Adjusted Trial Balance
C. Income Statement, Statement of Changes in Equity and Balance Sheet
NAME:
ACTIVITY NO. 1
COURSE:
YR.&SEC.
DATE
Below are terms pertinent to adjusting entries. Match each definition with its related term. There are two
answers for each term.
Terms
1. Accrued Expense
2. Deferred Expense
Definitions
a. Revenue not yet earned; collected in advance.
b. Office supplies on hand; used next accounting period.
c. Rent revenue collected; not yet earned.
d. Rent not yet collected; already earned.
e. An expense incurred; not yet paid or recorded.
f. Revenue earned; not yet collected.
g. An expense not yet incurred; paid in advance.
h. Property taxes incurred; not yet paid.
3. Accrued Revenue
4. Deferred Revenue
conto
Match each transaction with its related term:
Terms
Definitions
ACTIVITY NO. 2
Transcribed Image Text:are the following a. Adjusting Entries b. Adjusted Trial Balance C. Income Statement, Statement of Changes in Equity and Balance Sheet NAME: ACTIVITY NO. 1 COURSE: YR.&SEC. DATE Below are terms pertinent to adjusting entries. Match each definition with its related term. There are two answers for each term. Terms 1. Accrued Expense 2. Deferred Expense Definitions a. Revenue not yet earned; collected in advance. b. Office supplies on hand; used next accounting period. c. Rent revenue collected; not yet earned. d. Rent not yet collected; already earned. e. An expense incurred; not yet paid or recorded. f. Revenue earned; not yet collected. g. An expense not yet incurred; paid in advance. h. Property taxes incurred; not yet paid. 3. Accrued Revenue 4. Deferred Revenue conto Match each transaction with its related term: Terms Definitions ACTIVITY NO. 2
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