To see each answer, press or click on the blue "Unscramble" button. If you have difficulty answering the following questions, learn more about this topic by reading our Adjusting Entries (Explanation).
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6. An accrual entry involving a liability will also include this type of account.
EXPENSE PEENXES7. A common adjusting entry pertaining to plant assets is the recording of ______________.
DEPRECIATION IDIOCEPNRAET8. The contra account to accounts receivable is the ____________ for doubtful accounts.
ALLOWANCE WLNALACEO9. Adjusting entries are usually dated as of the date of the _________ sheet.
BALANCE ELAANBC10. _________-type adjusting entries are often reversed on the first day of the next accounting period.
ACCRUAL CUACALR11. The expired amount of prepaid insurance premiums should be reported in the account Insurance __________.
EXPENSE XENPEES12. An accrual that leads to an increase in assets will likely involve ___________.
REVENUES SEERENUV14. The account credited in the adjusting entry for depreciation is ______________ Depreciation.
ACCUMULATED UUAALCEDCMT15. One purpose of adjusting entries is to report revenues in the accounting period in which they are __________.
EARNED DERNAE16. Accruing revenues will include a debit to a _____________ account.
RECEIVABLE VLCEEIRBAE17. Accruing expenses will include a credit to a ___________ account.
LIABILITY ITLYLIAIB18. To avoid the double counting of accrued expenses, ____________ entries are made on the first day of the next accounting period.
REVERSING NGIRRSEVE19. An expense incurred but not yet recorded or paid will require an ___________-type adjusting entry.
ACCRUAL CUCALAR
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For the past 52 years, Harold Averkamp (CPA, MBA) has
worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. He is the sole author of all the materials on AccountingCoach.com.
