User Account

All Pages

How would you record the January transaction

Assignment Help Accounting Basics
Reference no: EM132710703

Problem - On January 24, 20Y8, Niche Consulting collected $5,700 it had billed its clients for services rendered on December 31, 20Y7. How would you record the January 24 transaction, using the accrual basis?

A. Increase Cash, $5,700; decrease Fees Earned, $5,700

B. Increase Accounts Receivable, $5,700; increase Fees Earned, $5,700

C. Increase Cash, $5,700; decrease Accounts Receivable, $5,700

D. Increase Cash, $5,700; increase Fees Earned, $5,700

Reference no: EM132710703

Questions Cloud

What type of strategic alliance that form your selected firm : What type of strategic alliance that form your selected firms? Explain its different reasons.
What is a comparative multicultural approach : What is revealed when we look at the history of the potato famine historically and through the experiences of many different group of people?
What the effect on the balance sheet and income statement : The balance in the unearned rent account for Jones Co. as of December 31 is $1,200. What the effect on the balance sheet and income statement
Explain what the robinson-patman act prohibits : Explain what the Robinson-Patman Act prohibits, what is required to show a violation, and what the defenses are.
How would you record the January transaction : Niche Consulting collected $5,700 it had billed its clients for services rendered on December 31, 20Y7. How would you record the January 24 transaction
Economic events influence on economic activity analysis : Write a analysis assessing how 1 of the following major economic events influenced supply, demand, and economic equilibrium in the US economic activity:
When would the lawyer record the revenue for the fees : Assume that a lawyer bills her clients $15,000 on June 30, for services rendered during June. When would the lawyer record the revenue for the fees
What is the sultan attitudes toward european : What is the sultan's attitudes toward European? What kinds of details does he include about the Turks? Why do you think he centered on those details as opposed
Problem - Gross Profit Percent and Markup Percent : Problem - Gross Profit Percent and Markup Percent - Compute the gross profit percent for Years 1 and 2. Round to one decimal place

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine the amount of interest expense reported

Determine the carrying value (face value less discount or plus premium) of the bond liability as of December 31, 2013.

  Tyrene products manufactures recreational equipment one of

tyrene products manufactures recreational equipment. one of the companys products a skateboard sells for 34. the

  Discuss what is the direct materials price variance

Exeter paid $66,100 for 2,475 pounds, which they used to produce 2,350 units. What is the direct materials price variance

  When a company revises its estimate useful life

When a company revises its estimate useful life? It must disclose the change in the estimate but depreciation expense will not change.

  Determine deposits in transit

A summary of the Cash account in the ledger for August shows the following: balance, August 1, $18,900; Determine deposits in transit

  What are the five basic principles of cash management

What are the five basic principles of cash management that a company can follow in order to improve its chances of having adequate cash

  What factors should you consider in making your decision

Discuss the ethical dilemma you face. What is the issue? Who are the parties affected? What factors should you consider in making your decision?

  Explain the income measurement process in a merchandising

How do the components of revenues and expenses differ between merchandising and service companies?

  Disclose the information in financial statements

You are auditing Diverse Carbon, a manufacturer of nerve gas for the military-The company’s legal counsel indicates that the company is liable, but the company does not want to disclose this information in the financial statements.

  Calculate the gain realized on the sale of stewart residence

Stewart, age 44, sells his personal residence of four years on June 14, current tax year for $185,000. Calculate the gain realized on sale of Stewarts residence

  Intel expense for share-based compensation

1.) What did Intel expense for share-based compensation for 2008? Answer ($ million) How many options did Intel grant in 2008?

  What is the maximum price aitken corp should pay

An outside supplier has offered to provide Aitken Corp with the 20,000 subcomponents. What is the maximum price Aitken Corp should pay the outside supplier

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