Reference no: EM13986611
Accruals and Deferrals
For the following situations, indicate whether each involves a deferred expense (DE), a deferred revenue (DR), an accrued liability (AL), or an accrued asset (AA).
Example: DE Office supplies purchased in advance of their use
1. Wages earned by employees but not yet paid
2. Cash collected from subscriptions in advance of publishing a magazine
3. Interest earned on a customer loan for which principal and interest have not yet been collected
4. One year's premium on life insurance policy paid in advance
5. Office building purchased for cash
6. Rent collected in advance from a tenant
7. State income taxes owed at the end of the year
8. Rent owed by a tenant but not yet collected
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Impression on the quality of life
: In 200-500 words, describe your impression on the quality of life someone with severe amnesia would experience. Would there be a major difference in the quality of life between someone with retrograde amnesia and anterograde amnesia?
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How deep is the hole
: 1. A spelunker (cave explorer) drops a stone from rest into a hole. The speed of sound is 343 m/s in air, and the sound of the stone striking the bottom is heard 1.57 s after the stone is dropped. How deep is the hole?
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Problem regarding the office supplies
: Somerville Corp. purchases office supplies once a month and prepares monthly financial state- ments. The asset account Office Supplies on Hand has a balance of $1,450 on May 1.
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How do magnet attract something that originally non-magnetic
: Describe the direction of the compass needle as you moved it around the bar magnet. Which direction did the needle point? How far away did the compass have to be?
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Problem regarding the accruals and deferrals
: For the following situations, indicate whether each involves a deferred expense (DE), a deferred revenue (DR), an accrued liability (AL), or an accrued asset (AA).
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Comparing income statement and the statement of cash flow
: On January 1, Campus Internet Connection opened for business across the street from Upper Eastern University. The company charges students a monthly fee of $20 and $1 for each hour they are online.
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Find the tension in strings instantaneously
: Body B is a slender bar bent into the shape of a quarter circle. the weight of B is 100N. Find the tension in strings OA and OB instantaneously after the system is released from rest.
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What was its angular acceleration during this process
: Starting from rest, a solid sphere begins to spin reaching its angular speed of 3.17 rad/s after 0.300 seconds. What was its angular acceleration during this process?
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Determining the closing entries
: Royston Realty reported the following accounts on its income statement:
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