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

Question

1 Approved Answer

In January 2020, a customer paid 1000 AED for an air ticket from Abu Dhabi to London on Etihad airways. The customer performed the trip

In January 2020, a customer paid 1000 AED for an air ticket from Abu Dhabi to London on Etihad airways. The customer performed the trip on 25th April, 2020. Which of the following is true after 25th April, 2020?

A.

Etihad need to record the money as revenue
B.

Etihad needs to credit unearned revenue account
C.

The money is unearned revenue
D.

The money still belongs to the custome

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_2

Step: 3

blur-text-image_3

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

Intermediate Accounting

Intermediate Accounting

Authors: Earl K. Stice, James D. Stice

18th edition

538479736, 978-1111534783, 1111534780, 978-0538479738

More Books

Students also viewed these Accounting questions

Question

★★★★★
The following information has been extracted from the trial balance of M/s Randhir Transport Corporation. Adjustments 1. Closing stock for the year was Rs. 35,500. 2. Depreciation charged on plant...

Answered: 1 week ago

Question

★★★★★
The following financial information (in millions) is for two major corporations for the three fiscal years ended December 31 Instructions (a) Calculate return on assets and return on equity for each...

Answered: 1 week ago

Question

★★★★★
1423. List four potential pitfalls in decision making, which represent common errors.

Answered: 1 week ago

Question

★★★★★
1. Socioeconomic status and school achievement are often correlated. Which one of the following statements is not true regarding the relationship between SES and levels of achievement? A. The longer...

Answered: 1 week ago

Question

★★★★★
Refer to the data for Novations, Inc., in Problem 5-47. Instructions: 1. Prepare an income statement for Novations, Inc., for the year ended December 31, 2011. 2. Prepare a statement of cash flows...

Answered: 1 week ago

Question

★★★★★
DeZurik Corporation had the following stockholders' equity section in its June 30,2022 , balance sheet (in thousands, except share and per share amounts): Required: a. Calculate the par value per...

Answered: 1 week ago

Question

★★★★★
Journal entries are required by the depositor for all of the following except a collection of a note receivable b. bank errors e bank service charges dan NSF check 10. Intermal controls are concerned...

Answered: 1 week ago

Question

★★★★★
The year is 2030, and the rate of change has continued to exponentially increase over the last few years. Select a current organization that you believe will still be successful in the year 2030. I...

Answered: 1 week ago

Question

★★★★★
a company that operates for 50 weeks in a year is concerned about its stocks of copper cable. This costs rs. 240 a meter and there is a demand for 8000 meters a week . Each replenishment costs rs....

Answered: 1 week ago

Question

★★★★★
25) A coffee shop operates 7 days per week and needs to determine how many workers (full-time equivalent, FTE) employees to staff. Employees work 12 hour shifts. A FTE is defined as an employee that...

Answered: 1 week ago

Question

★★★★★
Suppose we have a credit score distribution that follows a normal distribution with a mean of 705 and standard deviation of 39. A person is randomly selected. Compute the probability that this person...

Answered: 1 week ago

Question

★★★★★
83. A baseball team of ten young teenagers is visiting town for a tournament today. Two of the players have swollen parotid (salivary) glands with cough and fever. You are called to evaluate and...

Answered: 1 week ago

Question

★★★★★
NEED HELP ASAP will rate(: ara wants to have $530,000 in her savings account when she retires. How uch must she put in the account now, if the account pays a fixed interest ate of 9%, to ensure that...

Answered: 1 week ago

Question

★★★★★
Three forces with magnitudes of 70pounds, 40 pounds, and 60 pounds act on an object at angles of 30, 45, and 135, respectively, with the positive x-axis. Find the direction and magnitude of the...

Answered: 1 week ago

Question

★★★★★
(Payback period) Apex Industries is considering the purchase of new pro duction technology that would require an initial investment of $375,000 and have an expected life of 10 years. At the end of...

Answered: 1 week ago

Question

★★★★★
Why are postinvestment audits performed? When should they be performed? LO.1

Answered: 1 week ago

Question

★★★★★
(Appendix 1) What is meant by the term time value of money? Why is a present value always less than the future value to which it relates? LO.1

Answered: 1 week ago

Previous Question Next Question