Can someone PLEASE help me with a few of these accounting problems?? PLEASE?

Can someone help me out a little. Can you please take the time to explain what I am suppose to do? 1. Deferred expenses have A. not yet been recorded as expenses or paid B.been recorded as expenses and paid C.been incurred and paid D.not yet been recorded as expenses 2. By matching revenues and expenses in the same period in which they incur A.net income or loss will always be underestimated B.net income or loss will always be overestimated C.net income or loss will be properly reported on the income statement D.net income or loss will not be determined 3. A business pays weekly salaries of $20,000 on Friday for a five-day week ending on that day. The adjusting entry necessary at the end of the fiscal period ending on Thursday is? 4. The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were $2,500, and the supplies on hand at June 30 were $2,000. The amount to be used for the appropriate adjusting entry is? First off I said I was not looking for answers. I need an explanation. Smart mouth b!t~~ Thanks James. Thank you Bob.

3 months ago - 3 answers