User Account

All Pages

What amount for the liability unearned service revenue

Assignment Help Accounting Basics
Reference no: EM132526380

Question - The TJ Company collects all service revenue in advance. The company showered a $12,500 liability on its December 31, 2011, balance sheet for unearned service revenue. During 2012, customer paid $50,000 for future services, and the income statement for the year ended December 31, 2012, reported service revenue of $52,700. What amount for the liability unearned service revenue will appear on the balance sheet at December 31, 2012?

Reference no: EM132526380

Questions Cloud

Give two reasons that the rat population : Forest logging removes trees, leaving behind only smaller bushes. Some rats in a depleted forest have an allele that makes them smaller than normal rats.
Compute the variable overhead efficiency variance for april : Compute the variable overhead efficiency variance for April. Compute the variable overhead rate variance for April. Compute the materials price variance
What will Matrixs balance sheet show as salaries payable : Matrix Accounting pays all salaried employees biweekly. What will Matrix's balance sheet show as salaries payable on December 31, 2009
Recolonization of disturbed communities of sessile : For your graduate research you have chosen to study the recolonization of disturbed communities of sessile marine invertebrates. From observing
What amount for the liability unearned service revenue : The TJ Company collects all service revenue in advance. What amount for the liability unearned service revenue will appear on the balance sheet at December
Disturbed communities of sessile marine invertebrates : For your graduate research you have chosen to study the recolonization of disturbed communities of sessile marine invertebrates.
What is the balance after adjustment : If the balance of the Allowance for Uncollectible Accounts is $9,000 credit before adjustment, what is the balance after adjustment
Compute the volume variance for november : Compute the volume variance for November. Compute the budget variance for November. Indicate the effect of each variance by selecting "F" for favorable, "U"
Explain why a medusa needs a more complex nervous : Explain why a medusa needs a more complex nervous system that polyp

Reviews

Write a Review

Accounting Basics Questions & Answers

  How will net profit be affected by change in selling price

University believes increasing its price to $27 will cause its sales volume to drop by 5 percent, how will net profit be affected by the change in selling price

  Record the adjustment to allowance for doubtful accounts

Bramble Corp. had net sales in 2020 of $1.9 million. Prepare the December 31, 2020 journal entry to record the adjustment to Allowance for Doubtful Accounts

  Prepare the march income statement through gross profit

Extravaganza Costumes estimates its inventory by the gross profit method. Prepare the March income statement through gross profit for Extravaganza Costumes

  Provide an example of the closing of an expense account

Explain why this process is required. Provide an example of the closing of an expense account, salary expense in the form of a journal entry

  Difference between indirect and a direct cash flow statement

In your discussion comment and explain operating activities, investing activities, and financing activities. What is the difference between an indirect.

  The intent and ability to hold the investments

How would your answers to requirements 1-5 differ if management had the intent and ability to hold the investments until maturity?

  Advise qi as to the deductibility of the legal expenses

QI Pty Ltd is a job recruitment agency located in the Melbourne CBD. Advise QI as to the deductibility of the legal expenses

  Rachel lives and works in chicago she is the regional sales

1. tcos 1 and 2 discuss the differences between federal court and the united states tax court for litigating tax

  Prepare journal entry if stock dividend is declared

The per share par value is $1, book value $32 And market value is $40. Prepare journal entry if a 10% Stock dividend is declared

  Plant-wide factory overhead rate

Actual overhead costs for the year were $240,000. Lasso's plant-wide allocation base, machine hours, was budgeted at 50,000 hours. Actual machine hours were 40,000. Budgeted units to be produced are 100,000 units. Lasso's plant-wide factory overhe..

  Sometimes companies change the extent to which they can

sometimes companies change the extent to which they can significantly influence an investee such that they have to

  Cash and the accrual basis of accounting

Explain two (2) advantages and two (2) disadvantages in using both the cash and the accrual basis of accounting - Then, determine the one (1) that you believe provides the most useful financial information to users.

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