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
ser-zykov [4K]
2 years ago
5

Management Services, Inc. provides services to clients. On May 1, a client prepaid Management Services $60,000 for 6-months serv

ices in advance. Management Services' general journal entry to record this transaction will include aSelect one:a. Debit to Unearned Management Fees for $60,000.b. Credit to Management Fees Earned for $60,000.c. Credit to Cash for $60,000.d. Credit to Unearned Management Fees for $60,000.e. Debit to Management Fees Earned for $60,000.
Business
1 answer:
Sedbober [7]2 years ago
4 0

Answer:

d. Credit to Unearned Management Fees for $60,000.

Explanation:

In the given question, it is mentioned that the management services provide service to clients, and one client gives the advance amount of $60,000 to the management service.  

So, in case of advanced received by the customer, the journal entry would be  

Cash A/c Dr       $60,000

   To Unearned Management Fees    $60,000

(Being amount received in advance)

The asset account should be debited and the liabilities account should be credited.

You might be interested in
A voltage of 50 V appears across a 20-μF capacitor.
AlekseyPX

Answer:

a. 1nC

b. 0C

Explanation:

Net charge q stored on plate of capacitor is

q = CV

Where C = 2uF = 2 x 10^-6F

V= 50v

q = 20 x 10^-6 x 50 = 1000 x 10^-6 = 1000uF = 10^-9 = 1nC

b. the total net charge on another plate is equal in absolute value to the first one, but it is charged with opposite Pole so always is valid that total net charge on both plates are equal to zero.

That's the other charge on the plate is -1nc

1 nC + -1nC = 0C

3 0
3 years ago
A firm has an issue of $1,000 par value bonds with a 12 percent stated interest rate outstanding. The issue pays interest annual
Mamont248 [21]

Answer:

c

Explanation:

4 0
2 years ago
Joann's health insurance plan allows all tests and specialist visits without referral by her doctor. joann, most likely, has wha
Mademuasel [1]
Joann, most likely, has Point of Services type of insurance plan. There are six types of the insurance health plans that differs by their premium and benefit. The HMO plan, the PPO plan, the EPO plan, and the Point-of-Service Plan (POS) are the types of insurance plan that shares a similar benefit. However, the POS plan gives the most freedom in term of health providers. Thus, POS plan is the most suitable answer.
6 0
2 years ago
Read 2 more answers
Which loan type requires you to make loan payments while you’re attending school?
FrozenT [24]
I think the correct answer from the choices listed above is option A. The loan type that  requires you to make loan payments while you’re attending school would be unsubsidized federal loan. For this type, y<span>ou are responsible for paying the interest on a Direct Unsubsidized Loan during all periods. Hope this answers the question.</span>
5 0
3 years ago
Ana has won a lottery. she was offered two options to receive the award: she can either take it in five installments of $60,000
ANTONII [103]
She should choose to<span> take a lump-sum of $271,000 now. This is the best option since the other option would have a present value less than $271,000. If you use the present value annuity calculator, you can get the present value of the installment option to be </span>$259,768.60. Therefore, the the lump – sum payment option is the most appropriate.<span> </span>
8 0
2 years ago
Other questions:
  • What is the first step in financial planning?
    5·2 answers
  • If I reset amiibo data on smash Bros, do I get my sprits back?
    10·2 answers
  • Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer P. Moore. I
    9·1 answer
  • A manager is hired by a start-up for her demonstrated ability to think strategically and make broad-based decisions that serve t
    9·1 answer
  • You must evaluate a proposal to buy a new milling machine. The base price is $120,000, and shipping and installation costs would
    14·1 answer
  • Tuscany Company estimated the following costs at the beginning of a particular year: Overhead $5,340,000 Direct labor cost $890,
    8·1 answer
  • How do the entry and exit of firms in a purely competitive industry affect resource flows and long-run profits and losses?
    11·1 answer
  • Sherry is trying to increase her daily exercise. She has downloaded an application on her phone that tracks how far and how long
    8·1 answer
  • All of the following are permitted investments in individual retirement accounts except: _______
    10·1 answer
  • Beryl company sells flash drives per week. purchaseorder lead time is weeks and the economicorder quantity is units. what is the
    9·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!