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accrued revenue is acc. receivable control, which is an asset. if it is not made, the assets will decrease. Eq=A-L, A drop, and then Eq will decrease.
accrued revenue can be category of sales revenue too, so if sales drop, P=I-Ex,
P will decrease
the only thing will increase is L and Ex when comparing with A P or I.
What else can I help you with?
If an adjusting entry is not made for an accrued expense?
If adjusting entry not made then profit will be overstated while the expenses will be understated.
To make an adjusting entry for the accrued commission is what?
Adjusting entry as follows: [Debit] Cash / bank [Credit] Accrued commission
What is journal entry for accrued service revenue?
debit accounts receivableCredit services revenue
What is the Utility expenses incurred but not paid adjusting entry?
This is adjusting entry for Accrued Expenses in the current accounting period, where you debit adjusting entry on expenses (Utility Expenses) account and credit adjusting entry on liabilities (Utilities Payable) account.
What is the correct journal entry for accrued receivable?
debit accounts receivablecredit sales revenue
If an adjusting entry is not made for an accrued expense?
If adjusting entry not made then profit will be overstated while the expenses will be understated.
To make an adjusting entry for the accrued commission is what?
Adjusting entry as follows: [Debit] Cash / bank [Credit] Accrued commission
What is journal entry for Accrued Revenue?
Accrued Revenue is a term that I rarely see, though it is an Asset and should be treated as such. Accrued Revenue would be treated similar to an Account Receivable. The Journal Entry would be a Debit to Accrued Revenue and a Credit to Revenue.
What is journal entry for accrued service revenue?
debit accounts receivableCredit services revenue
What would the journal entry be to record an accured revene?
[Debit] Revenue receivable [Credit] Accrued revenue
What is the Utility expenses incurred but not paid adjusting entry?
This is adjusting entry for Accrued Expenses in the current accounting period, where you debit adjusting entry on expenses (Utility Expenses) account and credit adjusting entry on liabilities (Utilities Payable) account.
What is the correct journal entry for accrued receivable?
debit accounts receivablecredit sales revenue
What Pairs of accounts could not appear in the same adjusting entry?
service revenue and unearned revenue
The rental revenue represents the amount received for 11 months for use of the dining facilities The December rent has not yet been paid What is the adjusting journal entry?
Rent Dr Rent Accrued Cr (for the Dec month)
Is it true that in recording the adjusting entry for accrued taxes both accounts involved are increased?
Yes, as the expense and the corresponding liability accumulate over the period, an adjusting entry is necessary to increase the expense (with a debit) and increase the corresponding liability (with a credit).
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received?
True
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received.?
True
