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lisov135 [29]
3 years ago
5

On August 1 of Year 1 Accounting Associates (AA) collected $1,200 cash for consulting services to be provided for one year begin

ning immediately. Based on this information, which of the following show how the required adjustment on December 31, Year 1 would affect AA’s ledger accounts?a). Revenue $500 Unearned revenue $500 b) Revenue $700 Unearned revenue $700 c) Unearned Revenue $500 Revenue $500 d) Unearned revenue $700 Revenue $700
Business
1 answer:
igor_vitrenko [27]3 years ago
6 0

Answer:

c) Unearned Revenue $ 500, Revenue $ 500

Explanation:

When the cash was received on August 01, no accounting services were provided so the  entry would have been:

Cash Debit                                 $ 1,200

Unearned revenue Credit                          $  1,200

Unearned Revenue is a liability account

On December 31, a recognition needs to be made for the services revenue earned and hence the amount for 5 months amounting is debited to  unearned revenue and revenue credited with $ 500.  

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Answer:

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Explanation:

Before things get out of hand actions must be taken and it should be made clear favoritism is not allowed in the organization.

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8 0
3 years ago
AIDA, the indirect strategy for persuasive messages, seeks to gain the attention, interest, ________, and action of the audience
alexgriva [62]

Answer: Desire

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5 0
3 years ago
Judy has worked in customer service for 11 years. She has learned to listen actively and communicate effectively with the custom
mixas84 [53]
C sounds most correct.
please vote my answer branliest! Thanks.
8 0
3 years ago
ABC is a Medicare Advantage (MA) plan sponsor. It would like to use its enrollees’ information to market non-health related prod
raketka [301]

Answer is given below

Explanation:

  • The Medical insurance company provided all consent knowledge to the patient or beneficiary. It should be well defined so that it can dispel all the doubts of the beneficiary. Must have a valid registration page.
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5 0
3 years ago
Read 2 more answers
On January 1, 2017, Grand Haven, Inc., reports net assets of $945,300 although equipment (with a four-year remaining life) havin
borishaifa [10]

Answer:

patent on the consolidated estament: 32,000

Explanation:

45,000 x 80% = 36,000

36,000 / 9 = 4,000 amortization per year

 patent of Grand heaven

<u>      debit           credit        </u>

  36,000 recognize at purchase

                        4,000 december 31th amortization

  32,000 balance.

5 0
3 years ago
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