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
Alexxx [7]
3 years ago
11

GreenLawn Co. provides landscaping services to clients. On May 1, a customer paid GreenLawn $72,000 for 6-months services in adv

ance. GreenLawn’s general journal entry to record this transaction will include a:
Business
1 answer:
Sphinxa [80]3 years ago
4 0

Answer:

Given that,

Amount paid = $72,000

Time period = 6-months

As cash is received it is debited and unearned revenue is credited as it is treated as liability until service is provided.

Therefore, the journal entry for this transaction is as follows:

Cash A/c Dr. $72,000

    To unearned revenue A/c  $72,000

(To record the unearned revenue)

You might be interested in
On which group will a progressive tax place a greater tax burden?
Furkat [3]
Poor citizens will be greatly affected by a increase in taxes,nobody takes into account there day to day living,rent,utilities,food and that's just to name a few.
5 0
3 years ago
Read 2 more answers
What are the Taxes Paid for private/public limited company
Alex Ar [27]

Answer:

20%

Explanation:

Public Limited Companies pay Corporation tax rates, currently set at 20%, on their taxable profits. There are also tax-deductible costs and allowances that can be offset against the company profits for even greater tax savings.

7 0
2 years ago
Read 2 more answers
You are interested in investing in a private company. Based on earnings multiples of similar publicly traded firms, you estimate
siniylev [52]

Answer:

$10.88

Explanation:

The value of private shares can be approximately gotten from various methods such as comparing valuation ratios, discounted flow analysis, net tangible assets, and so on.

Given that:

value of private company stock = $13.44 per share

Expected control premium = 12% = 0.12

Marketability discount = 15% = 0.15

Discount for key person = 15% = 0.15

Value per share = value of private company stock [(1 + expected control premium)(1 - Marketability discount) × (1 - discount for key person)]

= $13.44 [(1 + 0.12) × (1 - 0.15) × (1 - 0.15)]

= $10.88

4 0
3 years ago
The accountant for Sysco Company is preparing the company's statement of cash flows for the fiscal year just ended. The followin
vichka [17]

Answer:

The correct answer is $ 41,000.

Explanation:

This problem requires us to calculate the amount of cash dividend that will be reported in the financing section of the statement of cash flows. In statement of cash flow the dividend paid in cash during the period is reported. Dividend declaration in not relevant as far as statement of cash flow is concerned.

Cash dividend to reported is calculated as follow.

Dividend payable opening balance = 10,000

Divdend declared                              = 42,000

Dividend payable closing balance   = (11,000)

Dividend paid                                     = 41,000

5 0
2 years ago
When jack welch, former chairman of general electric, a fortune 5 company, assumed the role of ceo, he immediately began to make
Anuta_ua [19.1K]
Jack Welch would be characterized as a leader because he's invested in long term change and inspiring his employees.
7 0
2 years ago
Other questions:
  • This type of cover letter style does a side by side comparison of an employer’s requirements and an applicant’s experience: a. P
    10·2 answers
  • the theme song from the movie jaws is an example of using sound for what purpose? dialogue heightening scene’s setting conveying
    5·2 answers
  • A friend says, “i want to minimize my risks of organ damage and long-lasting mental change,” and then asks, “what kind of drug s
    6·1 answer
  • Under what condition would it be rational for the trading areas of two branch locations to completely overlap?
    10·1 answer
  • Both BioThink Inc. and GD Pharma Inc. have discovered similar vaccines to prevent cancer. While GD Pharma's vaccine sells at $10
    5·1 answer
  • Juan was considering purchasing an interest in a tax-exempt bond fund for $100,000 when he discovered that the interest must be
    12·1 answer
  • question content area in recording the cost of goods sold for cash, based on data available from perpetual inventory records, th
    10·1 answer
  • If you find a strategic partner or contact friends to test out your new idea, you are using the ______ method.
    15·1 answer
  • ada inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. this is
    6·1 answer
  • A planned process for providing financial information that will be useful to management.
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!