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Q. Example of Unearned service fees?
Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm enters the following journal entry
The two T-accounts recitation to training fees are Unearned Service Fees a liability and Service Revenue. These accounts shows as follows on 2010 December 31 before adjustment
The balance in the Unearned Service Fees liability account set up when Micro Train received the cash will be converted into revenue as the company performs the training services. Previous to Micro Train prepares its financial statements it must make an adjusting entry to transfer the amount of the services performed by the company from a liability account to a revenue account.
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
what is accrued revenue
trial balance as at may 31 19*6 dr cr sales 400000 purchases 350000 sales return 5000 purchases return
i want to do accounts assignment
Q. What do you mean by Contingent liabilities? Contingent liabilities -- liabilities which are not recorded on a company's financial reports though whichmight become due. If a
A $9,000 loan to be repaid in full at the end of five years. Interest on the loan is payable quarterly. The interest rate is 8% compounded quarterly. What is the present value
Q. Uses of technology in accounting? The computers of persons in a given building or department are frequently connected in a Local Area Network (LAN). These persons are able t
Cowhand's Bar-B-Q House went into business on January 1, 2009. The following information is available at December 31, 2009: Sales revenue for the year $30
Q. Explain accounting cycle? Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions.
Illustrate the cases of financial accounting ?Enron, an energy-trading business which is based in Texas, and was accused of entering into complicated financial arrangements in
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