i. Fees Earned j. Equipment k. Notes Payable I. Owner, Capital a. Land e. Accounts Receivable 1. Owner, Withdrawals g. License Fee Revenue b. Cash c. Legal Expense d. Prepaid Insurance h. Unearned Revenue
i. Fees Earned j. Equipment k. Notes Payable I. Owner, Capital a. Land e. Accounts Receivable 1. Owner, Withdrawals g. License Fee Revenue b. Cash c. Legal Expense d. Prepaid Insurance h. Unearned Revenue
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter9: Auditing The Revenue Cycle.
Section: Chapter Questions
Problem 2CYBK: In the revenue cycle, the most significant accounts typically include revenue and accounts...
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For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance.
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