Business, 24.06.2020 01:01, odellbeckham7171
For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31.Step 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equalStep 3: Record the December 31 adjusting entry to get from step 1 to step 2.Assume no other adjusting entries are made during the year. a. Tao Co. receives $10,000 cash in advance for four months of legal services on October 1, 2017, and records it by debiting Cash and crediting Unearned Revenue both for $10,000. It is now December 31, 2017, and Tao has provided legal services as planned. hat adjusting entry should Tao make to account for the work performed from October 1 through December 31, 2017?Unearned revenueStep 1: Determine what the current account balance equals. Step 2: Determine what the current account balance should equal Step 3: Record the December 31 adjusting entry to get from step 1 to step 2 b. A. Caden started a new publication called Contest News. Its subscribers pay $24 to receive 12 monthly issues. With every new subscriber, Caden debits Cash and credits Unearned Subscription Revenue for the amounts received. The company has 100 new subscribers as of July 1, 2017. It sends Contest News to each of these subscribers every month from July through December. Assume no changes in subscribers, prepare the journal entry that Caden must make as of December 31, 2017, to adjust the Subscription Revenue account and the Unearned Subscription Revenue account.
Answers: 1
Other questions on the subject: Business
Business, 22.06.2019 06:00, slimt69561
When an interest-bearing note comes due and is uncollectible, the journal entry includes debitingaccounts receivable and crediting notes receivable and interest revenue. accounts receivable and crediting interest revenue. notes receivable and crediting accounts receivable and interest revenue. notes receivable and crediting accounts receivable.
Answers: 3
Business, 22.06.2019 09:40, shybug886
Newton industries is considering a project and has developed the following estimates: unit sales = 4,800, price per unit = $67, variable cost per unit = $42, annual fixed costs = $11,900. the depreciation is $14,700 a year and the tax rate is 34 percent. what effect would an increase of $1 in the selling price have on the operating cash flow?
Answers: 2
Business, 22.06.2019 19:10, sierravick123owr441
You have just been hired as a brand manager at kelsey-white, an american multinational consumer goods company. recently the firm invested in the development of k-w vision, a series of systems and processes that allow the use of up-to-date data and advanced analytics to drive informed decision making about k-w brands. it is 2018. the system is populated with 3 years of historical data. as brand manager for k-w’s blue laundry detergent, you are tasked to lead the brand's turnaround. use the vision platform to to develop your strategy and grow blue’s market share over the next 4 years.
Answers: 2
Do you know the correct answer?
For each separate case below, follow the three-step process for adjusting the unearned revenue liabi...
Questions in other subjects:
Mathematics, 28.01.2020 16:59
Chemistry, 28.01.2020 16:59
Mathematics, 28.01.2020 16:59
History, 28.01.2020 16:59
