User Account

All Pages

What was the balance in unearned revenue on january

Assignment Help Financial Accounting
Reference no: EM132982471

Problem 1: On December? 31, 2018 the balance in Energy Exploration? Company's Unearned Revenue account was a credit of $8,000. In? January, 2019, the company received an advance payment of $10,000 from a new customer for services to be performed. By January? 31, adjustments were made to recognize $4,000 of the revenue that had been earned during January. What was the balance in Unearned Revenue on January? 31, 2019?

A. $10,000 debit
B. $4,000 credit
C. $14,000 credit
D. $8,000 credit

Reference no: EM132982471

Questions Cloud

What is the coupon amount : The bond is callable at the end of the first year only, for a price of $1,117.90. What is the coupon amount, if the bond sells at par
What is the future value of the cash flow pattern : Cash flows will be placed in a saving account that pays 17.86 percent per year. What is the future value of this cash flow pattern at the end of year five?
What is the present value of the car payments : A car dealership offers you no money down. If the discount annual rate is 18.94 percent compounded monthly, what is the present value of the car payments?
What is the company asset turnover ratio : The company has average total assets of $410,000, of which $205,000 is property, plant, and equipment. What is the company's asset turnover ratio
What was the balance in unearned revenue on january : Adjustments were made to recognize $4,000 of the revenue that had been earned during January. What was the balance in Unearned Revenue on January? 31, 2019?
Determine the transaction amounts of real estate documents : You will need the transfer fee rates to determine the transaction amounts for most of the real estate documents
Balances for union democracy and union financial governance : Are there sufficient checks and balances for union democracy and union financial governance?
What other types of financial measures do use for analysis : What are some clear examples of Financial Accounting vs. Financial Management? What other types of financial measures do we use for analysis?
Which the entry to record the expense of an employee : Which the entry to record the expense of an employee's vacation pay accrual would be? debit vacation pay payable; credit vacation pay expense

Reviews

Write a Review

Financial Accounting Questions & Answers

  Which of the best describes the discount rate

Which of the best describes the discount rate that when applied to the future cash flows makes them equal to the initial cash expenditures?

  What type of business is to serve a particular in community

Which the primary purpose of what type of business is to serve a particular need in the community? Which is not an example of a retailer?

  Which activities normally fall within scope of technical

Which activities would normally fall within the scope of technical analysis? The evaluation of corporate cash flow and earnings statements.

  When should wdl recognise revenue from the contract

Applying AASB 15, when should WDL recognise revenue from this contract? Wood Delights Ltd (WDL) manufactures office furniture

  Questionsamanta shoes which was launched by entrepreneurs

questionsamanta shoes which was launched by entrepreneurs samanta and kelvin joseph produces high-quality shoes in

  What is net income for sam bakery

Sam's Bakery has sales of $576,000 with costs of $382,000. Interest expense is $15,000 and depreciation is $31,000. The tax rate is 27%. What is Net Income?

  Determine What is the bond yield to maturity

If the bond has an annual interest rate of 8 percent, but pays interest? semiannually, what is the bond's yield to maturity? A(n) 6-year bond

  Attributed to the value of land

Terry purchased and placed into service a building that costs $2 million. An appraisal determined that 25% of the total cost was attributed to the value of land. The bottom floor of the building is leased to a retail business for $32,000.

  What is the company annual payment

At the end of the five-year lease, the car can be sold for $25,000. If the dealership's expected return is 13 percent, how much is this lease worth?

  What are the incremental cash flows for the project in year

What are the incremental cash flows for the project in Year 1 through 5, and how do these cash flows differ from the accounting profits or earnings?

  What role should a department manager have

Question - What role should a department manager have in controlling the cost of unemployment compensation

  Examples of each of three main types of business processes

Give three examples of each of the three main types of business processes. Tom owns a small recreational trailer business in a suburban community located close to the mountains. The community is relatively small but growing at a fast rate. Tom's busi..

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