Form 4 POA Adjustments

An accrual is

• money owing on an expense

• money owing on revenue

• a bad debt

• depreciation

To adjust an accrual we

• Subtract the outstanding amount

• Add the owed amount

• Divide by 2

• Leave as is

$900 has been paid in rent. However, an amount of $50 dollars is outstanding. The adjusted figure is

• 850

• 900

• 950

• 50

Paid in excess is another way to refer to a(n)

• Accrual

• Revenue

• Expense

• Prepayment

To adjust a prepayment we

• Add the outstanding amount

• Multiply by the rate given

• Subtract the excess amount

• Divide by 2

Revenue is the same as an expense

• True

• False

Revenue is paid by the business

• True

• False

Revenue outstanding means another individual or business owes the business money

• True

• False

$5000 was received in commission. However, an amount of $250 is still to be received. The adjusted commission is

• 5250

• 5000

• 250

• 4750

Too much revenue paid to the business is Reveue paid in ...