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The TM Company collects all service revenue in advance. The company showed a $14,500 liability on its December 31, 2011, balance sheet for unearned service
The TM Company collects all service revenue in advance. The company showed a $14,500 liability on its December 31, 2011, balance sheet for unearned service revenue. During 2012, customers paid $45,000 for future services, and the income statement for the year ended December 31, 2012, reported service revenue of $53,000. What amount for the liability unearned service revenue will appear on the balance sheet at December 31, 2012? What amount for the liability unearned service revenue will appear on the balance sheet at December 31, 2012? Select the formula you will use to calculate the unearned service revenue account balance at December 31, 2012. Then enter the amounts and calculate the balance. December 31, 2012 balance
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