Week 9

Adjusting entries are used to fix errors

• True

• False

Money earned or spent but not yet paid

• Bieber

• Accrue

• Revenue

• Expense

Service revenue is income a company generates for performing a service

• True

• False

Straight Line depreciation allocates the depreciation expense with the greatest weight at the beginning of the assets useful life

• True

• False

• What the finance

The CONTRA account for depreciation is:

• Macaroni

• Accumulated Revenue

• Accumulated Income

• Accumulated Depreciation

Accrued revenue always increases a receivable account and increases a revenue account

• True

• False

Double declining depreciation includes residual income in the calculation

• True

• False

Test #2 is on Chapters 3, 4, 5, and 6

• True

• False

A common accrued expense(s) include:

• Salaries and Wages

• Rent

• Interest

• All of the above