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bearhunter [10]
3 years ago
12

Unearned revenues are revenues not recorded as revenues until services are performed. revenues for services already performed an

d received in cash, and recorded as revenues when received. revenues for services performed but not yet received in cash or recorded. revenues for services already performed, and recorded as liabilities, before they are received.
Business
1 answer:
Ray Of Light [21]3 years ago
8 0

Answer:

Correct option is (a)

Explanation:

Unearned revenue are revenue earned against services that have not been performed yet. In accrual system, revenue is recognized when service is performed against it.

Revenue earned without service being discharged is treated as liability till the period service is performed. It is recognized as income only after service is performed. For example unearned rent revenue is an unearned revenue which is reported as a liability till the rent period for which revenue was received is over.

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6 0
2 years ago
Read 2 more answers
Franklin Company deposits all cash receipts on the day they are received and makes all cash payments by check. At the close of b
OlgaM077 [116]

Answer:

$14,837

Explanation:

Calculation for what The adjusted cash balance should be

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8 0
3 years ago
Zirconia Fantasy sells only necklaces. 8 comma 000 units were sold resulting in $ 240 comma 000 of sales​ revenue, $ 60 comma 00
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3 years ago
Think about the differences in the two stories about the
Marrrta [24]

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8 0
3 years ago
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joja [24]

Answer:

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5 0
2 years ago
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