How does unearned revenue arise, and how is it reported on a companys balance sheet?

Question:

How does unearned revenue arise, and how is it reported on a company’s balance sheet?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Intermediate Accounting Reporting and Analysis

ISBN: 978-1285453828

2nd edition

Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach

See More Books

Question Posted: Oct 05, 2015 05:16 AM

See More Questions

Explain the types of liabilities that an employer incurs relating to payroll?
How does materiality affect the accounting for current liabilities?
Assume that for the August 20 payroll, McFriend (see RH9 4) pays its employees $120,000 for time worked and $10,000 for vacation taken. Prepare the journal entry' to record McFriends August 20...
Pew Research published survey results from two random samples. Both samples were asked, Have you listened to an audio book in the last year? The results are shown in the table below. a. Find and...
Example 12 used logistic regression to estimate the probability of having a travel credit card when x = annual income (in thousands of euros). At the mean income of :25,000, show that the estimated...
describe the distinction between ethics and morality;
Keeping a diary or a log in which the supervisor notes examples of an employees positive as well as negative job performance is an example of which type of appraisal method? A. Behaviorally anchored...
Pam Corporation acquired its 90 percent interest in Sun Corporation at its book value of $3,600,000 on January 1, 2016, when Sun had capital stock of $3,000,000 and retained earnings of $1,000,000....
E 3-4 Balance sheet preparation -2, LO3-3 The following is a December 31,2024, post-closing trial balance for the Jackson Corporation. Prepare a classified balance sheet for Jackson Corporation at...
The following information is available for the preparation of the governmentwide financial statements for the city of Southern Springs as of April 30, 2020: From the preceding information, prepare,...
Donald Company operates a business in Orange County. While Donald uses a calendar fiscal year, Orange Countys fiscal year begins in October. How should Donald account for its property taxes assessed...
Distinguish between a legal and an equitable or constructive liability. Give an example of each.
Explain the nature and use of a letter of credit and distinguish between a standby letter of credit and a normal letter of credit.
The relevance ( Relevance ) and the reliability ( Reliability ) represent two characters Key qualitative statistics of information n accountant. What What do these two mean? terms in an accounting...
A virtual memory system has a page size of 1024 bytes, six virtual pages, and five physical page frames. The page table is shown in Table Q2(d) as follows: Virtual Page Number (VPN) 0 Page Frame...
31. z = x + 2xy, determine which of (I)-(II) in Figure 12.31 are cross- sections with x fixed and which are cross-sections with y fixed. (1) (11) -2 -2+
WHAT DOES SOCIETY EXPECT FROM ORGANIZATIONS AND MANAGERS? Introduction: TOMS Shoes has a unique idea to promote corporate social responsibility. For each pair of shoes it sells, it donates a pair to...
1. A car heading east turns right at a corner. The car turns at a constant speed of 20.0 m/s. After 12 s, the car completes the turn, so that it is heading due south at 20.0 m/s. Calculate the car's...
Verify that the range $x_{G}$ of a projectile is given by the (3.30). XG 2v sin cos 0 9 v sin 20 (3.30) 9
SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and Manufacturing Company. Prepare a schedule of cost of goods manufactured for the year ended...
In system (2), define a matrix $F=\left(f_{i j} ight)$ to have a row for each transient state in the set $D$ of all transient states and a column for each recurrent state in a given recurrence...
On January 1, 2019, Brewster Company issued 2,000 of its 5-year, $1,000 face value, 11% bonds dated January 1 at an effective annual interest rate (yield) of 9%. Brewster uses the effective interest...
Obtain AB InBevs 2017 annual report using the Investor Relations portion of its web site (do a Web search for AB InBev investor relations). Required: 1. Examine note 24. What was the total amount of...
Obtain The Coca-Cola Companys 2017 annual report either using the Investor Relations Obtain The Coca-Cola Companys 2017 annual report either using the Investor Relations portion of its web site (do a...
Marie Forleo, a marketing trainer and host of MarieTV, presents the eight tips for genuine networking. Do you agree or disagree with her suggestions? Discuss how this information is useful to you and...
Identify all relevant costs or revenue that are applicable to production- constrained decisions 1. Contributions margin of product 2. Interference with other production 3. Contribution margin per...
Gammaro Compary manufactures wallets from fabric. In 2 0 1 9 , Gammaro made 2 , 1 5 0 , 0 0 0 wallets using 1 , 2 5 0 , 0 0 0 yards of fabric. In 2 0 1 9 , Gammaro has capacity to make 2 , 8 0 0 , 0...

How does unearned revenue arise, and how is it reported on a companys balance sheet?

Question:

Step by Step Answer:

Unearned revenue arises when a company collects amounts in advance of satisfying its performan...View the full answer

Intermediate Accounting Reporting and Analysis

Students also viewed these Accounting questions