ABC Inc. entered into an agreement with a customer on April 1 to provide accounting services...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
ABC Inc. entered into an agreement with a customer on April 1 to provide accounting services starting immediately. ABC Inc. charges $900 a month for these services, and the customer agrees to pay ABC Inc. on the 1st of each month for the past month's work, starting May 1. What adjusting journal entry is required by ABC Inc. on April 30? O Dr. Cash 900; Cr. Service Revenue 900 O Dr. Cash 900; Cr. Accounts Receivable 900 O Dr. Accounts Receivable 900; Cr. Cash 900 O Dr. Accounts Receivable 900; Cr. Service Revenue 900 ABC Inc. entered into an agreement with a customer on April 1 to provide accounting services starting immediately. ABC Inc. charges $900 a month for these services, and the customer agrees to pay ABC Inc. on the 1st of each month for the past month's work, starting May 1. What adjusting journal entry is required by ABC Inc. on April 30? O Dr. Cash 900; Cr. Service Revenue 900 O Dr. Cash 900; Cr. Accounts Receivable 900 O Dr. Accounts Receivable 900; Cr. Cash 900 O Dr. Accounts Receivable 900; Cr. Service Revenue 900
Expert Answer:
Related Book For
Smith and Roberson Business Law
ISBN: 978-0538473637
15th Edition
Authors: Richard A. Mann, Barry S. Roberts
Posted Date:
Students also viewed these accounting questions
-
A consumer entered into an agreement with Rent-It Corporation for the rental of a television set at a charge of $17 per week. The agreement also provides that if the renter chooses to rent the set...
-
On January 1, 2011, Hunter Ltd. entered into an agreement to lease a truck from Situ Ltd. Both Hunter and Situ use IFRS. The details of the agreement are as follows: Carrying value of truck for Situ...
-
On January 1, 2017, Piper Company entered into an agreement with Save Mart to sell its most popular product, the gadget. The contract stipulates that the price per unit will decrease as Save Mart...
-
11) log, 16 4X220 4 ky 13) log, 8+log, (1-4x)=log, 63 15) log, 3x-log, 5=4 12) Evaluate 2 log, 7776-log, 729 14) log, (x-6)+log, (x-5)=1 loge (x-6)+ log 6 (x-5' 16) log 9+ logx = 4
-
What is the definition of cost in cost-plus pricing?
-
Compute the quantities using the vectors. 3 6 U= --[+] -() --[] --[-] = [3] W= X = -2 -5 3
-
A viscous fluid is contained between two infinitely long, vertical, concentric cylinders. The outer cylinder has a radius \(r_{o}\) and rotates with an angular velocity \(\omega\). The inner cylinder...
-
Norwood Company, a producer of solid oak tables, reports the following data from its current year operations, which is its second year of business. Sales price per unit . . . . . . . . . . . . . . ....
-
IRAC answer to the question I was received about whether sam is criminally liable for assault for his actions against basil. Is this a good answer so far or is there anything I could change/doesnt...
-
A commercial refrigerator with refrigerant-134a as the working fluid is used to keep the refrigerated space at -35C by rejecting waste heat to cooling water that enters the condenser at 18C at a rate...
-
John Hendrix, of preservation age, an interior designer worked with Designer Plus Pty Ltd in Melbourne for 20 years. On the 1 November 2019 he received a genuine redundancy package of $200,000. He...
-
How does persuasion help team decision making?
-
When you identify potential audience objections to your ideasas part of planning a persuasive conversation or written messageshould you address those objections directly as part of your persuasive...
-
To be persuasive, business websites must present a company as credible. Assume you are starting a new business and you do not have any customer testimonials or past projects to present on your...
-
What is the main difference between a visual aid presentation and a stand-alone presentation?
-
Name one technique an organization might use if it routinely communicates similar bad-news messages.
-
safe computer inc. started its business in 2023 and sells equipment with a 2-year warranty.prior experience indicates that costs for warranty repairs average 4% in the first year and 2% in the second...
-
Swifty company is a publicly held corporation whose $1 par value stock is actively traded at $30 per share. The company issued 3400 shares of stock to acquire land recently advertised at $93000. When...
-
This is an action by purchasers of 5 percent convertible subordinated fifteen year debentures of BarChris Construction Corporation (BarChris). * * * The action is brought under Section 11 of the...
-
St. Charles Drilling Co. contracted with Osterholt to install a well and water system that would produce a specified quantity of water. The water system failed to meet its warranted capacity, and...
-
Explain who owns the working papers an accountant generates and whether client information is privileged.
-
Is the word anxiety a candidate for creating a stable pattern? If so, give reasons.
-
Define the real meaning of anxiety. What are the different meanings of this word?
-
Can you list six important benefits of this pattern?
Study smarter with the SolutionInn App