[jaggyemt]

Which one of the following is violated when a company recognizes revenue upon the receipt of cash from a customer who had paid in advance for services

a. expense policy
b. objectivity
c. matching
d.revenue recognition criteria

For each transaction numbered 1 through 5 below, identify the effect (a through h) on the accounting equation by placing the letter of the effect in the space provided. Each letter may be used mor than oncece or not at all

Accounting equation effects
a. debit assets and credit liabilities
b. debit assets and credit contributed capital
c. debit assets and credit revenue
d. debit retained earnings and credit assets
e. debit contributed capital and credit assets
f. debit expenses and credit assets
g. debit one asset and credit another asset
h. not communicated by the formal accounting system


1. ___ received payment fom a customer for amount owed from a previous accounting period

2. ___ provided computer services to customers on account

3.___ used supplies in the regular operations of the business


4. __ used up part of the service potential of the computer equipment

5.___ hired a new office manager to start to work next week