1.Cumulative effect of Change in accounting principles is generally reported as Select one: a. adjustments...
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Accounting
1.Cumulative effect of Change in accounting principles is generally reported as
Select one: a. adjustments to prior period statements, in the Retained Earnings Statement. b. unusual items. c. adjustments to current and/or prior period income statements. d. adjustments to current period income statement only.
2.Powers Company accrued unpaid wages of $3000 on January 31. These wages will be included in paychecks totaling $7000 on February 2. The reversing entry will include a(n):
Select one: a. credit to Cash for $3000 b. credit to Wages Expense for $3000 c. debit to Wages Expense for $7000 d. debit to Wages Payable for $7000
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