User Account

All Pages

Amounts and calculate the balance

Assignment Help Accounting Basics
Reference no: EM13857983

The RS company collects all service revenue in advance. The company showed a $9500 liability on it's December 31, 2011 balance sheet for unearned service revenue. During 2012, customers paid $62,000 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?

Select the formula you will used to calculate the unearned service revenue account balance at December 31, 2012. Then enter the amounts and calculate the balance.

1) Amount paid for future revenue.

2) December 31, 2011 balance.

3) Revenue reported in 2012.

Reference no: EM13857983

Questions Cloud

Compare the calculated financial ratios against the industry : Compare the calculated financial ratios against the industry benchmarks for the industry of your assigned company
Create a job description for a fictitious employee : Create a job description for a fictitious employee that includes the following: Brief description of the organization. The organization can be what is created for this exercise or an organization that you are familiar with
Calculate the payback and profitability index : Calculate the payback and profitability index.
Appropriate documentation to validate the deduction : Assume for Stage 1 you had the following cash outflows in 2014.  Assume all these items have appropriate documentation to validate the deduction if the tax law indeed allows deduction for such item.
Amounts and calculate the balance : Select the formula you will used to calculate the unearned service revenue account balance at December 31, 2012. Then enter the amounts and calculate the balance.
What is the initial outlay associated with project? : What is the initial outlay associated with this project?
Prepare a global business etiquette trading strategy for zen : Prepare a Global Business Etiquette trading strategy for Zen Ltd. Your strategy will address factors such as (but not limited to) etiquette, manners, cross cultural and intercultural communication.
Eliminate the intercompany receivable and payable : What consolidation worksheet entry is recorded at December 31, 2010 to eliminate the intercompany receivable and payable? What consolidation worksheet entry is recorded at December 31, 2010 to eliminate the intercompany interest income and interest ..
What recommendation would you offer the firms management : what recommendation would you offer the firms management with regard to this product?

Reviews

Write a Review

Accounting Basics Questions & Answers

  What is the appropriate balance for the allowance for

huron corp. operates in an industry that has a high rate of bad debts. nbspon dec.31 before any year end adjustments

  What are the major uses of cash other than operation and

what are the major uses of cash. other than operation and how have these varied over the three-year period presented?no

  Oklahoma manufacturing company uses a standard cost

oklahoma manufacturing company uses a standard cost accounting system. in 2012 the company produced 28200 units. each

  Pearson brothers recently reported an ebitda of 65 million

pearson brothers recently reported an ebitda of 6.5 million and net income of 1.8 million. it had 2.0 million of

  Danny and vicky are forming a partnership danny will invest

danny and vicky are forming a partnership. danny will invest a truck with a book value of 20000 and a fair value of

  Given what you have learned in the course and based on your

research a specific franchise opportunity or 2 research a general article or two on franchising.for option 1 post your

  Complete the following exercise frank weston supervisor of

complete the following exercise frank weston supervisor of the freemont corporations machining department was visibly

  Carr company produces a single product during the past year

carr company produces a single product. during the past year carr manufactured 25000 units and sold 20000 units.

  How do i analyze each transaction and record it in the

how do analyze each transaction and record it in the general journal by using pg. 3 to begin januarys transactions?if

  Discuss how economic forces in the marketplace affect

Discuss how economic forces in the marketplace affect the health care industry and health care management

  Why are some assets and liabilities classified as current

why are some assets and liabilities classified as current and other are classified as long-term? explain the favorable

  Calculate the selling price of the bonds

Calculate the selling price of the bonds.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd