The Following Information Has Been Gathered for Stylish Co

question 70

Essay

The following information has been gathered for Stylish Co. to assist in preparing its year-end adjusting entries at December 31:
(a) The company has earned $2,500 of rental revenue that has not yet been received or recorded.
(b) Stylish has recorded $3,200 of unearned service fees. At year-end, $1,500 of this amount has been earned.
(c) Depreciation on equipment for the year is $7,800.
(d) Employees have earned but have not yet been paid $2,750 in salaries.
Identify which of the above accounting adjustment would be reversed assuming Stylish Co. uses reversing entries.

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Definitions:

Ethical Behavior

Conduct that is consistent with principles of moral rightness and standards of professional practice.

CRM System

A Customer Relationship Management system, which is a technology for managing all your company's relationships and interactions with customers and potential customers.

Salesperson Cooperation

The collaboration and teamwork among salespeople within an organization to achieve common sales goals.

Lead Scoring

A methodology used in marketing to rank prospects against a scale that represents the perceived value each lead represents to the organization.