FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A company receives $1,800 on November 1st, 2019 for services to be provided evenly over the next six months.On December 31st, 2019 adjusting entry for

A company receives $1,800 on November 1st, 2019 for services to be provided evenly over the next six months.On December 31st, 2019 adjusting entry for the company would include a credit to Deferred Revenue for $600. The answer is false but I don't understand. 600 would be earned at the end of 2019. So credit unearned revenue $1200

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting

Accounting

Authors: Charles T Horngren, Walter T Harrison

9th Edition

132959674, 978-0132569057

More Books

Students also viewed these Accounting questions

Question

★★★★★
Consider the following data for two variables, x and y. a. Develop an estimated regression equation for the data of the form y-bar = b0 + b1x. Comment on the adequacy of this equation for predicting...

Answered: 1 week ago

Question

★★★★★
A design team is developing a prototype CO 2 cartridge for a manufacturer of rubber raft s. The is cartridge will allow a user to quickly inflate a raft . A typical raft is shown in the sketch....

Answered: 1 week ago

Question

★★★★★
A store that sells alcoholic drinks has n bottles of white wine and k bottles of red wine on its shelves.We select a bottle randomly from the shelves and then a second, without replacing the first....

Answered: 1 week ago

Question

★★★★★
At December 31, 2012, before any year-end adjustments, the Accounts Receivable balance of Stenners Electronics is $180,000. The Allowance for Doubtful Accounts has an $11,600 credit balance. Stenners...

Answered: 1 week ago

Question

★★★★★
Lana and Rey are married, live in Berkeley California, and have a 12 year old dependent child named Del. The two have wages of $ 90,000 (Lana) and $ 85,000 (Rey) during the calendar year 2019 with...

Answered: 1 week ago

Question

★★★★★
What is the best advice you would give a friend who is being promoted to CEO of a multinational company regarding leadership, strategy, and execution? Please frame answer around post-Covid economics...

Answered: 1 week ago

Question

★★★★★
an 1800 kg vehicle travelling at 60.0km/h smashes into a concrete barrier and stops in 0.420s what is the magnitude of the collision force on the vehicle

Answered: 1 week ago

Question

★★★★★
Flo's Deli is determining how to ensure that their current process of serving customers during lunch rush is adequate. Which of the following is an example of how the restaurant can monitor its...

Answered: 1 week ago

Question

★★★★★
In an agile lifecycle, who should be involved in all overlapping sprints or releases? Select an answer: everyone on the product team the product manager only You should not overlap sprints or...

Answered: 1 week ago

Question

★★★★★
According to the concept of "position/legitimate power," the CEO has the ultimate responsibility for leading the tasks of forming, implementing, and executing a strategic plan for the whole...

Answered: 1 week ago

Question

★★★★★
Which of the following considerations is legally in sufficient? Tony bought a book for $100. Ruby offers to buy it for $10. Tony bought a text book for $100. He offers to give it to Ruby if Ruby...

Answered: 1 week ago

Question

★★★★★
1. To gain insight into communication situations regarding the fact that they should be understood by examining the relationship between the parts and the whole, and to provide an understanding that...

Answered: 1 week ago

Question

★★★★★
2. Using a communication conflict you have been involved in, or a problem or phenomenon that you are familiar with, provide answers for a)d). a) Find the critical elements that existed (exist) as you...

Answered: 1 week ago

Question

★★★★★
5. What is meant by the statement, when we attribute a different meaning to a situation, the situation will consequentially change for us?

Answered: 1 week ago

Previous Question Next Question