What is unbilled training fees, Accounting Basics

Assignment Help:

Q. What is Unbilled training fees?

A company may possibly perform services for customers in one accounting period while it bills for the services in a different accounting period. Micro Train Company carries out USD 1000 of training services on account for a client at the end of December. Ever since it takes time to do the paper work Micro Train will bill the client for the services in January. The essential adjusting journal entry at 2010 December 31 is:

1458_What is Unbilled training fees.png


Subsequent to posting the adjusting entry the T-accounts appear as follows

89_What is Unbilled training fees1.png

The service revenue emerge in the income statement the asset accounts receivable appears in the balance sheet.


Related Discussions:- What is unbilled training fees

Accounting concepts and standards, Any activity which you perform is assist...

Any activity which you perform is assist if you comprise a set of rules to guide your efforts. Moreover, you determine that these rules are of more value to you if they are standar

Deferred payments, Ask question Discuss the export financing under the defe...

Ask question Discuss the export financing under the deferred payment system.#Minimum 100 words accepted#

An accounting perspective business insight, An accounting perspective Busin...

An accounting perspective Business insight Accounting is essential for all three types of business organizations and every company must follow generally accepted accounting pri

Accounting, what are the basics of accounting

what are the basics of accounting

Adjusting entry, On october 5 2011 mara hotel collectedmthe amount of 18000...

On october 5 2011 mara hotel collectedmthe amount of 180000 repreesenting advanced rental from a tenant who occupies space of the building. tHe advanced rental willcover the period

Assets, is money deposited to the municipality for electricity current asse...

is money deposited to the municipality for electricity current assets

Given a net income of $90, Given a net income of $90,000, what is the retur...

Given a net income of $90,000, what is the return on investment for 2000? A. 7.9% B. 22.22% C. 22.78% D. 24.8%

History of accounng, application/realization in history of accounting

application/realization in history of accounting

Why accounting become too interesting, Has accounting become too interestin...

Has accounting become too interesting? In recent years, accounting has become front-page news and has been a key talking point among those connected with world of business. Reg

Write Your Message!

Captcha
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!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd