Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The balance in Unearned Revenues prior to adjustment was $3,650. If the amount still unearned as of the end of the period is $1,900 ?

The balance in Unearned Revenues prior to adjustment was $3,650. If the amount still unearned as of the end of the period is $1,900?, the adjusting entry needed would be? to:

A.

debit Unearned Service? Revenue,

$1,750?;

credit Service? Revenue,

$1,750.

B.

debit? Cash,

$3,650?;

credit Unearned Service? Revenue,

$3,650.

C.

debit Service? Revenue,

$1,750?;

credit Unearned Service? Revenue,

$1,750.

D.

debit Unearned Service? Revenue,

$1,900?;

credit Service? Revenue,

$1,900.

Of the? following, which is NOT classified as an investing activity on the Statement of Cash? Flows?

A.

Selling goods and services

B.

Collecting the principal on loans

C.

Purchasing land

D.

Sale of equipment for cash

38) The balance in Unearned Revenues prior to adjustment was $3,650. If the amount still unearned as of the end of the period is $1,900, the adjusting entry needed would be to: A. debit Unearned Service Revenue, $1,750; credit Service Revenue, $1,750. B. debit Cash, $3,650; credit Unearned Service Revenue, $3,650. C. debit Service Revenue, $1,750; credit Unearned Service Revenue, $1,750. D. debit Unearned Service Revenue, $1,900; credit Service Revenue, $1,900. 39) Of the following, which is NOT classified as an investing activity on the Statement of Cash Flows? A. Selling goods and services B. Collecting the principal on loans C. Purchasing land D. Sale of equipment for cash

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

Police Auditing Standards And Applications

Authors: Allan Y. Jiao

2nd Edition

0398090750, 978-0398090753

More Books

Students also viewed these Accounting questions