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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
Your Best Advisors, a service company, uses reversing entries. On March 31, 2016, they journalized and posted the following adjusting entry to accrue Utilities Expense:

Utilities Expense   400   
     Utilities Payable      400

Which of the following entries is the correct reversing entry to be prepared on April 1, 2016?

A) Cash   400   
     Utilities Expense      400

B) Utilities Expense   400   
     Accounts Receivable      400

C) Utilities Payable   400   
     Utilities Expense      400

D) Utilities Expense   400   
     Income Summary      400
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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.unplugged..unplugged.
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8 years ago
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H3Ko Author
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#2
8 years ago
YES! Can't believe I got this one right. Appreciate the confirmation
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#3
6 years ago
thank you
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#4
4 years ago
ty
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