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Match each situation below to two applicable reasons that require an adjustment to be made.

Delta Airlines provided flights this month

for customers who paid cash last month for

tickets.

$2.$

GSD&M completed work on an advertising

campaign that will be collected next month.

Snap received a telephone bill for services

this month, which must be paid next month.

The Tiger Woods Foundation used up some

of the benefits of its $35,000-$square$-$foot

building.

A$.$ Revenue has been generated

B$.$ Expense has been incurred

C$.$ Liability has been incurred

D$.$ Liability has been fulfilled

E$.$ Asset has bee acquired

F$.$ Asset has been used up

M$4-2$ Understanding Concepts Related to Adjustments

Match each situation below to two applicable reasons that require an adjustment to be made.

$,$ BM completed a consulting project for the

CDC to simulate the spread of contagious

viruses and will be paid next month.

This month Apple, Inc., redeemed iTunes

gift cards that had been issued last month.

Schutt Sports used up some of the benefits

of its football helmet manufacturing

equipment.

$?$rocter & Gamble received a bill for this

month's advertising services, which it will

pay next month.

A$.$ Revenue has been generated

B$.$ Expense has been incurred

C$.$ Liability has been incurred

D$.$ Liability has been fulfilled

E$.$ Asset has been acquired

F$.$ Asset has been used up

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