Ask Question
BusinessBusiness
4 July, 02:40

An adjusting entry that increases an asset and increases a revenue is known as a (n) :

+5
Answers (1)
  1. 4 July, 04:42
    0
    An adjusting entry that increases an asset and increases a revenue is known as Accrued Revenue.

    Explanation:

    when an organization has earned income yet hasn't yet gotten money or recorded a sum receivable For the situation of gathered incomes, we get money after we earned the income and recorded an advantage.

    The modifying section for a collected income consistently incorporates a charge to an advantage account (increment a benefit) and an a worthy representative for an income account (increment an income).
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “An adjusting entry that increases an asset and increases a revenue is known as a (n) : ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Partial balance sheets and additional information are listed below for Monaco Company. Monaco Company Partial Balance Sheets as of December 31 2018 2017 Assets Cash $ 43,000 $ 21,500 Accounts receivable 63,000 93,000 Inventory 26,500 43,000
Answers (1)
A sprit manufacturer is considering a production investment associated with a fixed cost of $4 million and a variable cost (labor and material) of $3 per bottle. What is the average fixed cost at production level of 200 thousand bottles per year? a.
Answers (1)
Based on the following data, determine the amount of total assets, total liabilities, and net worth. Liquid assets$3,870Investment assets$8,340Current liabilities$2,670Household assets$87,890Long-term liabilities$76,230
Answers (1)
Randolph is a 30% partner in the RD Partnership. On January 1, RD distributes $26,000 cash to Randolph in complete liquidation of his interest. RD has only capital assets and no liabilities at the date of the distribution.
Answers (1)
Aluminum maker Alcoa has a beta of about 2.00 , whereas Hormel Foods has a beta of 0.45. If the expected excess return of the market portfolio is 5 % , which of these firms has a higher equity cost of capital, and how much higher is it?
Answers (1)
New Questions in Business
Under SFAS 141R, a. both direct and indirect costs are to be expensed. b. both direct and indirect costs are to be capitalized. c. indirect costs are to be capitalized and direct costs are to be expensed. d.
Answers (1)
The head of the marketing area told Alex to find the most stringent federal regulations on advertising to create the toughest standards. "If we can pass those, we should be able to get by all regulations." One real problem isA.
Answers (1)
An aging of a company's accounts receivable indicates that the estimate of uncollectible receivables totals $7,900.
Answers (1)
The following data for the telephone company pertain to the production of 450 rolls of telephone wire during June. Selected items are omitted because the costing records were lost in a windstorm.
Answers (1)
Grant's personal residence was completely destroyed by fire. He was insured for 100% of his actual loss, and he received the insurance settlement. Grant had adjusted gross income before considering the casualty item of $30,000.
Answers (1)
Home » Business » An adjusting entry that increases an asset and increases a revenue is known as a (n) :
Sign Up Forgot Password?