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Q. How does asset cash increase?
An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned Service Fees relatively than Service Revenue because the USD 4500 applies to more than just the current accounting period. Unearned Service Fees is a liability for the reason that if the services are never performed the USD 4500 will have to be refunded. If the payment had been there for services to be provided in December the credit would have been to Service Revenue.
Webster, Inc. began operations at the start of the present year, having a production target of 60,000 units. Real production totalled 60,000 units, and the company sold 95% of its
Problem 1: i) Assess the importance of accounting in the Public Sector. ii) How far has the Governmental Accounting Standards Board (GASB) changed financial reporting, ass
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Goods returned to Karl 2000
Determine the Income Statement columns of Worksheet Income Statement columns of the worksheet would comprise the amounts from Adjusted Trial Balance columns which are expenses
The total assets of Capp Co. are $600,000 and its liabilities are equal to two-thirds of its total assets. What is the amount of Capp Co.'s owner's equity?
I chose table 2-4 Loan Amortization Schedule, $100,000 at 6% for 5 years to discuss. Table 2-4 relates to the other two tables in that it is the opposite of the other two tables. T
My sister considers Will Smith a _____ actor than Sean Penn. (Points : 2) more better best better
The Greenwood Company purchased equipment costing $900. Greenwood paid $400 in cash and agreed to pay the remaining amount in thirty days. As a result of this transaction
Suppose a firm owns oil well assets. It is deciding how much oil to extract from its oil wells this year and next year. Production of oil costs $10 per barrel this year; next year,
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