For the following  transaction provided and select the appropriate journal entry. Oct 2.      Billed customers $13,200 for services performed.

Which one of the following is the last step in the accounting cycle?

Prepaid assets, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of:

All of the following accounts have normal debit balances except

GAAP refers to

A company reported the following information for the year ended December 31, 2020:  Beginning Retained Earnings                                                                   $150,000           For 2021 they reported: Revenue $275,000 Expenses 110,000 Dividends 10,000 What was the retained earnings balance at December 31, 2021?

Under accrual accounting when are revenues and expenses recognized?

Posting to the accounts involves

(Note- Retained Earnings is correct as of this date.) Dunder Mifflin Company account balances at December 31, 2021:   Revenue   $650,000   Cash   $60,000 Accounts Receivable 160,000 Selling Expenses 440,000 Equipment 220,000 Unearned Revenue 125,000 Accounts Payable 75,000 Interest Revenue 30,000 Salaries & Wages Expense 210,000 Advertising Expense 51,000 Inventory 170,000 Prepaid Insurance 20,000 Salaries Payable 50,000 Income Taxes Expense 180,000 Notes Payable 160,000 Retained Earnings 12/31/21 150,000 Accumulated Depreciation (Equip) 40,000 Depreciation Expense 2,000 Wages Expense    10,000  Common Stock 30,000                                                                                                                Prepare a Balance Sheet for December 31, 2021

On January 1, 2021, a company reported assets of $1,000,000 and liabilities of $600,000. During 2021, assets decreased by $100,000 and equity decreased $200,000. What is the amount of liabilities at December 31, 2021?