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Start studying Accounting Terms / Definitiond. Learn vocabulary, terms, and more with flashcards, games, and other study tools.. Record expenses in the period the related revenue is recognized; cause and effect relationship between revenues and expenses. Represent decreases in equity.
During this. Matteo discussed on our 1Q earnings call. These adjustments continued to impact some of our previously reported second-quarter 2018 financial items. This resulted in $2.6 million being.
Effect of accrued expenses on the accounting equation and financial statements. During 2016, Chung Corporation earned $8,000 of cash revenue and accrued $5,000 of salaries expense. Required ( Hint: Record the events in general ledger accounts under an accounting equation before satisfying the requirements.) Based on this information alone: a.
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We do however continue to see positive momentum in this business segment with increased business activity and bidding activity that puts us in a position to replace lost revenue. decreases in the.
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