1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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.  

You might be interested in
Suppose you find that the willingness to pay for Clippers tickets is highest for 23-64 year olds. Device a tactic to capture add
weeeeeb [17]

Answer:

Explanation: see attachment

3 0
3 years ago
Question 5 of 10
Lisa [10]
Annual percentage rate !
6 0
3 years ago
Assuming two investments have equal lives, a high discount rate tends to favor Group of answer choices the investment with even
notka56 [123]

Answer:

the investment with large cash flow early

Explanation:

This can be illustrated with an example.

There are 2 investments A and B

The cash flows of A =

Cash flow in year 1 = $50,000

Cash flow in year 2 = 0

Cash flow in year 3 = 0

The cash flows of B =

Cash flow in year 1 = 0

Cash flow in year 2 = 0

Cash flow in year 3 = 50,000

Discount rate for both investment is 40%

Present value of A = $35,714.29

Pesent value for B = $18,221.57

It can be seen that the investment with the higher cash flow early has a higher present value

3 0
3 years ago
In which situation may completion of an approved refresher course or 120 hours of continuing education most likely be required
mel-nik [20]

A practicing nurse who allowed her license to lapse about 7 years ago because of family raising may be required to complete an approved refresher course or 120 hours of continuing education.

A nurse can opt to let their medical license lapse if they want to raise a family since they need to give a full attention.

  • However, the nurse can obtain new license by completing an approved refresher course or 120 hours of continuing education.

Read more about this here

<em>brainly.com/question/4666914</em>

6 0
3 years ago
The risks of vertical integration include all of the following EXCEPT: a. costs and expenses associated with increased overhead
aleksandrvk [35]

Answer: Lack of control over valuable assets

 

Explanation: In simple words, vertical integration refers to a process under which an organisation combines two or more stages of production which were previously performed by any other company.

The vertical integration is done where the company wants to get more hold on its supply chain with the ultimate objective of having better control over valuable assets.

Hence from the above we can conclude that the correct option is C.

5 0
3 years ago
Other questions:
  • Ron operates a garbage pickup business. he contracts to pick up garbage from an apartment complex for the next 52 weeks at a pri
    12·2 answers
  • Larry estimates that the costs of insurance, license, and depreciation to operate his car total $320 per month and that the gas,
    13·1 answer
  • Is the free-market quantity of public goods generally greater or less than the efficient quantity?
    10·1 answer
  • Which of the following statements is (are) TRUE?
    9·1 answer
  • 2. Think of a real or made up but realistic example of a speculative risk that you or someone you know may face, and then answer
    12·1 answer
  • Relevant information for Material A is as follows:
    5·1 answer
  • Concord Company signed a long-term noncancelable purchase commitment with a major supplier to purchase raw materials in 2021 at
    9·1 answer
  • An automobile manufacturer has written a long PowerPoint presentation to share with investors about the upcoming year’s business
    7·1 answer
  • Sheridan, Inc. is a calendar-year corporation whose financial statements for 2020 and 2021 included errors as follows: Year Endi
    6·1 answer
  • The Gorman Group issued $930,000 of 11% bonds on June 30, 2021, for $1,009,794. The bonds were dated on June 30 and mature on Ju
    8·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!