Calculate the amount of unearned revenue

Assignment Help Financial Accounting
Reference no: EM131250405

On April 30, 2018, XYZ Company received $16,800 cash from a customer as payment for services to be performed over the next fourteen months.

Calculate the amount of unearned revenue that would appear in XYZ Company's balance sheet at December 31, 2018. Do not use decimals in your answer.

Reference no: EM131250405

Questions Cloud

Determine total cost of ending work-in-process inventory : Resty Company manufactures a product that goes through two departments prior to completion: the Mixing Department and the Packaging Department. Direct materials are added at the beginning of the process. Conversion costs are added evenly during the p..
Calculate the balance in the cash account : The following transactions occurred during May, the first month of operations for XYZ Company: Sold common stock to owners for $100,000 cash. Purchased $50,000 of equipment by making a $20,000 cash down payment and signing a note payable for the bala..
Make an adjusting entry to record depreciation : Which control procedure would be most effective in addressing the following problems? When entering a journal entry to record issuance of new debt, the treasurer inadvertently transposes two digits in the debit amount. The controller forgot to make a..
Identify weaknesses in current procedures : Identify weaknesses in current procedures, and explain the threats that they may allow to occur.  Suggest ways to improve the Kowal Manufacturing Company’s internal controls over hiring and payroll processing. Although most medium and large companies..
Calculate the amount of unearned revenue : On April 30, 2018, XYZ Company received $16,800 cash from a customer as payment for services to be performed over the next fourteen months. Calculate the amount of unearned revenue that would appear in XYZ Company's balance sheet at December 31, 2018..
Transactions for the just completed month : Granger Products recorded the following transactions for the just completed month. The company had no beginning inventories. $76,300 in raw materials were purchased for cash. $72,700 in raw materials were requisitioned for use in production. Of this ..
Accounting for share issues and options : Accounting for share issues and options Sunny Ltd is looking to expand its operations, and in order to do this, the company needs to increase equity. On 1 January 2016, Sunny Ltd offered 4,000,000 ordinary shares to the public at an issue price of $3..
The measurement of the value of transactions : Identify and critically discuss the following five principles in relation to the measurement of the value of transactions and or events. Separability and identity. Current cost accounting. Verifiability. Income approach. Matching principle
Briefly discuss the four tier system for financial reporting : Briefly discuss the four tier system for financial reporting (Use an appropriate diagram or table as part of your answer.

Reviews

Write a Review

Financial Accounting Questions & Answers

  Financial statement analysis and preparation

Financial Statement Analysis and Preparation

  Shareholder of a company

Describe the ways that a person can become a shareholder of a company. Why Wal-Mart would split its stock?

  Financial and accounting principles

An understanding of financial and accounting principles can be a valuable tool for managers. While not all managers will find themselves calculating financial ratios or preparing annual financial data.

  Prepare a statement of cash flow using the direct method

Prepare a Statement of Cash Flow using the Direct Method and Prepare the Operations section of the Statement of Cash Flow using the Indirect Method.

  Financial accounting assignment

This assignment has one case study and two question apart from case study. Questions related to document Liquidation question and Company financial statements question - Torquay Limited

  Prepare general journal entries for goela

Prepare general journal entries for Goela Ltd

  Principles of financial accounting

Prepare the journal entry to record the acquisition of the assets.

  Prepare general journal entries to record the transactions

Prepare general journal entries to record the transactions, assuming use of the periodic inventory system

  Global reporting initiative

Compare the view espoused by the economist Milton Friedman about the social responsibilities of business with the views express by Stigler.

  Explain the iasb conceptual frameworks

Explain the IASB Conceptual Framework's perspective of users and their decisions.

  Determine the company''s financial statements

T he focus of the report is to determine the extent to which you are comfortable relying on the financial statements as presented by management .

  Computation of free cash flow

Computation of Free Cash Flow

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!

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