What types of accounts are increased or decreased in an unearned revenue adjustment?
Question:
What types of accounts are increased or decreased in an unearned revenue adjustment?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 63% (11 reviews)
In an unearned re...View the full answer
Answered By
Muhammad Umair
I have done job as Embedded System Engineer for just four months but after it i have decided to open my own lab and to work on projects that i can launch my own product in market. I work on different softwares like Proteus, Mikroc to program Embedded Systems. My basic work is on Embedded Systems. I have skills in Autocad, Proteus, C++, C programming and i love to share these skills to other to enhance my knowledge too.
3.50+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Related Video
Unearned revenue is money received by an individual or company for a service or product that has yet to be provided or delivered. It can be thought of as a \"prepayment\" for goods or services that a person or company is expected to supply to the purchaser at a later date. As a result of this prepayment, the seller has a liability equal to the revenue earned until the good or service is delivered. This liability is noted under current liabilities, as it is expected to be settled within a year.
Students also viewed these Business questions
-
What types of accounts are listed on the post-closing trial balance?
-
What types of accounts are debited and credited in an unearned revenue adjusting entry?
-
What types of accounts are referred to as temporary accounts?
-
In an attempt to identify ecologically friendly methods for controlling mosquito populations, researchers conducted eld experiments in India where aquatic nymphs of the dragony Brachytron pretense...
-
Repeat Exercise 12.6, striving to achieve a minimum settling time while adding the constraint that |u(t)| < 80 for t > 0 for a unit step input, r(t) = l , l > 0.
-
A lotterry winner recieve 6 million at the end. At the end of what 12 year is the fv of her winnings ?
-
10. Can unincorporated legal entities ever be treated as corporations for tax purposes? Can legal corporations ever be treated as flowthrough entities for tax purposes? Explain.
-
Christy Albright and Dan Ralls formed the Charter Company on 11/30/2012, and chose a tax year ending on 11/30. Charter was formed to operate a restaurant (at 7848 Pesca Dr., San Francisco, CA 94123)...
-
You are given the below data for a company. What is its fundamental price per share? OCF 410,000.00 Tax Rate 24% Capital Expenditures 87,000.00 Interest expense 42,000.00 Net New Borrowing 110,000.00...
-
Daisy operates a food truck business. Over the past year, for 3 hours on a Sunday afternoon, Daisy sells gelato from her food truck on the grass next to the inner north bike path that winds through...
-
The following, listed in alphabetical order, are the adjusted accounts of Rainforest Inc. as of December 31, 2022: Accounts Payable $3,900, Accounts Receivable $1,700, Accumulated...
-
The adjusted account balances of Pepper Corp. at December 31, 2022, include the following accounts: Retained Earnings $21,000, Dividends $3,000, Service Revenue $45,000, Interest Revenue $3,100, Rent...
-
Luca Pacioli is setting up a new business. Before actually selling anything, he bought a van for 13,000, a transportable market stall for 1,050; a computer for 450; and an inventory of goods for...
-
Consider how they might directly apply to your life and work environment when answering the questions below. Competency 1: Evaluate data-driven processes and approaches of an organization's...
-
There are several website optimizer tools available to help you "increase website conversion rates." Following : Explain fully what is meant by "increase website conversion rates"; then, identify two...
-
Imagine being a human resource director for a large hotel chain. Report to management highlighting problematic diversity issues that may arise. Identify 3 challenging diversity issues (e.g., race,...
-
A study based on a sample of 4 0 0 medical school students finds that the ratio of female students is 0 . 4 8 . The school rules require that the female ratio in the school is at least 0 . 5 ? a ) (...
-
One of the many paradoxes in leadership is the challenge of encouraging a team effort while simultaneously encouraging individuals to excel. Why is this paradox a challenge for team leaders, and how...
-
How much chlorine is needed to react with 50 g of sodium to form sodium chloride, NaCl? How much sodium chloride is produced?
-
A bubble-point liquid feed is to be distilled as shown in Figure. Use the Edmister group method to estimate the mole-fraction compositions of the distillate and bottoms. Assume initial overhead and...
-
Purpose: This activity provides information about career opportunities for CPAs. 1. Go to the address shown above and click on Students/Educators. 2. Click on High School, then CPA101 for parts a, b,...
-
Donna Dye operates Double D Riding Academy, Inc. The academy??s primary sources of revenue are riding fees and lesson fees, which are provided on a cash basis. Donna also boards horses for owners,...
-
Clean Sweep Company offers home cleaning service. Two recurring transactions for the company are billing customers for services provided and paying employee salaries. For example, on March 15 bills...
-
A project with an initial cost of $32,000 is expected to provide cash flows of $12,900, $13,100, $16,200, and $10,700 over the next four years, respectively. If the required return is 8.1 percent,...
-
A company that is expecting to receive EUR 500,000 in 60 days is considering entering into an FX futures contract to lock an exchange rate to USD for the transaction. The FX rate on the contract is...
-
Suppose you bought a bon with an annual coupon rate of 6.5 percent one year ago for $1,032. The bond sells for $1,020 today. a. Assuming a $1,000 face value, what was your total dollar return on this...
Study smarter with the SolutionInn App