Question

2:40 PM Thu Jan 30 99% WileyPlus memo.docx Wiley PLUS Weygandt, Accounting Principles, 13e CALCULATOR Wiley PLUSHYWileyPLUS Help Contact Us Log Out PRINCIPLES OF ACCT I&II (ACC 114/121) STANDARD VIEV PRINTER VERSION BACK NEX Exercise 3-06 Mendoza Company accumulates the following adjustment data at December 31. Services performed but unbilled total 1. $3,000. ASSIGNMENT RESOURCES Review of Acc114 B Exercise 1.06 Exercise 195 Problem 1-02A a.b1-53 (Video) Exercise 2002 - Exercise 2-09 Exercise 3.05 (Video) Exercise 3-0 Problem 4-01A ad (Video) Problem 5-05A a-e 2. Supplies of $300 have been used. 3. Utility expenses of $552 are unpaid. Services performed of $260 collected in advance 5. Salaries of $800 are unpaid. Prepaid insurance totaling $350 has expired. Review Score Review Results by Study Objective Mobile Site For each of the above items indicate the following. (Enter answers in alphabetical order.) The type of adjustment (prepaid expense, unearned revenue, accrued revenue, or () accrued expense). (b) The status of accounts before adjustment (overstatement or understatement). Item Type of Adjustment Accounts before Adjustment Question Attempts: 0 of 3 use SAVE FOR LATE SUBMIT ANSWE

Answer 1

Item Type of Adjustment Accrued Revenues 1 Prepaid Expenses Accrued Expenses Accounts before Adjustment Assets Understated Revenues Understated Assets Overstated Expenses Understated Expenses Understated Liabilities Understated Liabilities Overstated Revenues Understated Expenses Understated Liabilities Understated Assets Overstated Expenses Understated 4 Unearned Revenues 5 Accrued Expenses Prepaid Expenses