User Account

All Pages

What is the balance of the unearned service contract

Assignment Help Accounting Basics
Reference no: EM132953644

Question - Criselda Janitorial Services Inc. is providing amenities to different corporate offices in Makati City. The usual service contract that the company provides to their clients is two years. They used the account title Unearned service contract revenue once they received advance payments. Direct expenses in relation to the service contract are charged to Service Contract Costs. Cash received from service contract sold is P1,500,000; Service Costs paid is P600,000; Service Contract Revenue recognized is P900,000. What is the balance of the unearned service contract at the end of the year?

Reference no: EM132953644

Questions Cloud

What is the value of a money machine : What is the value of a money machine that will pay $1510 per year for 11 years?
Determine the initial margin-maintenance margin : A trader at the Kewar Stock Exchange took a short position in 100 shares of the Mitha kora at Tk.46.00 per share. The initial margin requirement was 40 percent
Journalize the withdrawal of Carl : Julio, Shannon, and Carle each have $420,000 capital balance. Journalize the withdrawal of Carl if the partnership agrees to pay Carl $420,000 cash
Suggest an investment philosophy : Take a look at this: Angel is a 20-year-old student, going 2nd year from college with a course of Financial Management. She wants to be a Financial Analyst
What is the balance of the unearned service contract : Service Costs paid is P600,000; Service Contract Revenue recognized is P900,000. What is the balance of the unearned service contract at the end of the year
Value of the company common stock : The MacHardee Plumbing Company has common stock outstanding. The stock paid a dividend of $2.00 per share last year, but the company expects that earnings and d
What would be the balance of the sales account : During September she made cash sales of R6 400 and issued credit sales invoices for R10 200 of which R8 600 had been paid. What would be balance of the sales
Prepare for financial needs after retirement : Marcia Stubern is planning for her golden years. She will retire in 20 years, at which time she plans to begin withdrawing $60,000 annually. She is expected to
Compute cash flows from assets for the project : Sales of the new store for the 3 years are $500,000, $550,000 and $600,000, respectively. Compute cash flows from assets for the project

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

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