User Account

All Pages

What was the balance of the unearned service revenue account

Assignment Help Accounting Basics
Reference no: EM132820053

Problem 1: The Unearned Service Revenue account shows an adjusted end-of-year balance of P300,000. The adjusting entry to Unearned Service Revenue indicated P400,000 in Service Revenue was earned during the accounting period. What was the balance of the Unearned Service Revenue account before the adjusting entry was recorded?

option 1: P100,000 debit
option 2: P700,000 credit
option 3: P100,000 credit
option 4: P700,000 debit

Reference no: EM132820053

Questions Cloud

Identify at least two myths discussed in the unit : Identify at least two myths discussed in this unit, who perpetrates the myths you identified, and why these are important to understand.
How much is the total monthly payment for mortgage : You decide to buy a house for a total of $208,688. To get a mortgage loan, you make a 10% down payment, and the bank will lend you the rest.
About external organizational challenge : Share a recent example from business news about an external organizational challenge, how the company addressed it (internal factors),
Discuss the potential for including associated legal fees : Discuss the potential for including associated legal fees into the cost of acquiring RedCarpet using appropriate accounting standard
What was the balance of the unearned service revenue account : Revenue was earned during the accounting period. What was the balance of the Unearned Service Revenue account before the adjusting entry was recorded?
Describe the fair sentencing act : Select and provide a summary of one of the recent legislative measures designed to reduce mass incarceration (Second Chance Act, Fair Sentencing Act).
How much cash did aquino collect on accounts receivable : How much cash did Aquino collect on accounts receivable and what type of entry to such was made? Aquino Services billed P1,200,000 for services to clients
Critique strategies for removing barriers to change : Critique strategies for removing barriers to change. Description of the employee resistance behaviors.
How to bridge the different sides of the debate : In this section you should also provide recommendations for how to bridge the different sides of the debate and handle the controversy within the existing.

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