In the Space Below,state Whether Each Situation Is a Deferral

question 159

Essay

In the space below,state whether each situation is a deferral or an accrual.
______
a.
Depreciation on machinery is $7,200 for the accounting period.
______
b.
Interest that has been incurred on a loan but that has not yet been paid or recorded is $675.
______
c.
Office supplies of $965 were on hand at the beginning of the period. Purchases of office supplies during the period totaled $640. At the end of the period, $120 in office supplies remained.
______
d.
Commissions amounting to $975 were earned but not yet collected by year end.
______
e.
Prepaid Rent had a $2,500 balance prior to adjustment. By year end, 50 percent had expired.
______
______ f. Federal income taxes for the year were estimated to be $4,680.

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Definitions:

Research Deception

The use of misleading or untrue information in scientific studies to ensure the authenticity of responses or behaviors.

Forum Reporting

The process or practice of making information, findings, or discussions from a forum available to a wider audience or another medium.

Ethical Guidelines

Set of principles designed to help professionals conduct their work in a morally appropriate manner.

Animal Research

Experimental studies conducted on non-human animals to gain insights into biology, behavior, diseases, and the testing of medications or procedures.