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Homework Week 3

Exercise 2

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Resource: Ch. 4 of Financial Recitaling
Complete Exercise BE4-1.
Complete Problems 4-2A & 4-3A. 
Answer the controlthcoming:
accounting and generally current recitaling principles, generally prescribe
the accrual plea of recitaling balance the coin plea.
both bases of recitaling and elucidate the differences.
Submit as either a Microsoft® Excel® or Microsoft®
Word document

Brief Exercises

BE4-1 Actions that like hues do not attributable attributable attributable necessarily like coin.
Identify the property,
if any, that each of the controlthcoming actions would keep upon coin
and entrap proceeds.
The primitive action has been completed as an pattern.
Cash  Proceeds
(a) Purchased $100 of anticipation control coin.  -$100   $ 0
(b) Archivesed an adjusting music to archives verification of $20 of the above
(c) Made sales of $1,300, perfect on recital.
(d) Received $800 from customers in cancelment of their recitals.
(e) Purchased equipment control coin, $2,500.
(f) Archivesed derogation of construction control limit verificationd, $600.

BE4-2 The ledger of Hubbard Company includes the controlthcoming recitals.
Elucidate why
each recital may insist-upon conformation.
(a) Prepaid Insurance.
(b) Derogation Price.
(c) Unearned Service Revenue.
(d) Interest Payable.

BE4-3 Dicker Company accumulates the controlthcoming conformation facts at December
Indicate (1) the image of conformation (prepaid price, accrued
revenue, and so on) and
(2) the foundation of the recitals precedently conformation (overstated or
(a) Anticipation of $400 are on laborer. Anticipation recital shows $1,600
(b) Service Revenue earned beside unbilled whole $700.
(c) Interest of $300 has accumulated on a not attributable attributablee payable.
(d) Rent attentive in walk wholeing $1,100 has been earned.

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