(a) On December 1, $18,000 was received for a service contract to be performed from December 1 through April 30.

(b) If the service work for this contract is performed evenly and on a regular basis throughout this period, prepare the adjusting journal entry on December 31.

Required:

Record journal entries for the above transactions.

Which basic economic questions deals with the issue of how the incomeof people in various occupations is determined

Diversified semiconductors sells perishable electronic components. some must be shipped and stored in reusable protective containers. customers pay a deposit for each container received. the deposit is equal to the container’s cost. they receive a refund when the container is returned. during 2018, deposits collected on containers shipped were $856,000. deposits are forfeited if containers are not returned within 18 months. containers held by customers at january 1, 2018, represented deposits of $587,000. in 2018, $811,000 was refunded and deposits forfeited were $41,000. required: 1. prepare the appropriate journal entries for the deposits received and returned during 2018. 2. determine the liability for refundable deposits to be reported on the december 31, 2018, balance sheet.

When you hire an independent contractor you don't have to pay the contractors what