Accrual basis of accounting records revenues when they are

Asked by admin @ 17/08/2021 in Accountancy viewed by 440 People

The accrual basis of accounting records revenues when they are:

Collected
Earned
Contracted
Readily Available For use

Answered by admin @ 17/08/2021

Answer:

in accrual basis revenue recognized when they are earned

Under accrual basis accounting revenues are always recognized when

Asked by maham237 @ 03/01/2021 in Business viewed by 267 persons

Under the accrual basis of accounting:_________. a. cash must be received before revenue is recognized. b. net income is calculated by matching cash outflows against cash inflows. c. events that …

Outstanding expenses are recorded in which basis of accounting

Asked by admin @ 20/08/2021 in Accountancy viewed by 458 persons

Name the basis of accounting in which outstanding expenses are recorded

Adjusting entries are recorded when cash basis accounting is used

Asked by admin @ 28/10/2021 in Business viewed by 302 persons

Which of the following is false? Group of answer choices Under accrual basis accounting, companies record revenues when they receive cash and record expenses when they pay cash. There are …

How are sales revenues recorded under a perpetual inventory system

Asked by admin @ 29/10/2021 in Business viewed by 271 persons

When a company uses the perpetual inventory system ________. A) purchases of Office Supplies and Equipment that will be used in the day-to-day operations of the business are recorded as …

Prepare accounting equation on the basis of the following

Asked by admin @ 13/08/2021 in Accountancy viewed by 456 persons

Prepare accounting equation on the basis of following 1. harsha started business with cash 2,00,000.purchased goods from naman for cash 40,000.3.solds goods to bhanu costing 10,000,12,000. 4.bought furniture …

A purchase of supplies on account is recorded in the

Asked by admin @ 26/11/2021 in Business viewed by 276 persons

On January 7, Bravo purchased supplies on account for $1,000, and recorded this purchase to the Supplies account. At the end of January, Bravo had $600 of these supplies still …

Goodwill should be recorded in the accounting records only when

Asked by admin @ 05/11/2021 in Business viewed by 346 persons

Select the assumption, principle, or constraint that most appropriately justifies these procedures and practices. (Do not use qualitative characteristics.) (a) Fair value changes are not recognized in the accounting records. …

Accounting is not concerned only with the recording of transactions

Asked by admin @ 03/08/2021 in Accountancy viewed by 475 persons

Accounting is not concerned only with the recording of transaction .coment

Accounting records of a business enterprise is required by

Asked by admin @ 13/08/2021 in English viewed by 356 persons

Accounting records and information of business enterprise is required by which

Discount is not recorded in the books of accounts

Asked by admin @ 11/08/2021 in Accountancy viewed by 440 persons

Which discount is not recorded in the books of accounts?

Accounting does not record non financial transactions because of

Asked by admin @ 11/08/2021 in Accountancy viewed by 437 persons

Accounting does not record non-financial transactions due to

Where were the monthly accounts of the baker recorded

Asked by admin @ 10/08/2021 in English viewed by 270 persons

Where were the monthly accounts of the baker recorded?

The account type and normal balance of unearned revenue is

Asked by admin @ 02/08/2021 in Accountancy viewed by 472 persons

The account type and normal balance of unearned revenue is?

What effect will this adjustment have on the accounting records

Asked by maham237 @ 12/06/2021 in Business viewed by 264 persons

Unearned Fees 6,375 Fees Earned 6,375 increase revenues reported for the period increase net income decrease liabilities All of these choices are true.

Sales discounts is a revenue account with a credit balance

Asked by admin @ 22/11/2021 in Business viewed by 309 persons

The Sales Discounts Forfeited account ________. Select one: A. represents additional sales revenue B. is a contra Sales Revenue account C. is a balance sheet account D. represents the discount …