Solution-Taxes owed but payable in the following period

Taxes owed but payable in the following period

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Reference no: EM131127373

Classify the following items as

(a) Prepaid expense,

(b) Unearned revenue,

(d) Accrued expense.

1. A two-year premium paid on a fire insurance policy.

2. Fees earned but not yet received.

3. Fees received but not yet earned.

4. Salary owed but not yet paid.

5. Subscriptions received in advance by a magazine publisher.

6. Supplies on hand.

7. Taxes owed but payable in the following period.

8. Utilities owed but not yet paid.

Reference no: EM131127373

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Taxes owed but payable in the following period

Reference no: EM131127373

Reference no: EM131127373

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