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3 years ago

For each separate case below, follow the three-step process for adjusting the unearned revenue liability account at December 31.

Business

1 answer:

Anastaziya [24]3 years ago

5 0

Answer:

Step 1) The current balance equals to $ 9000

Step 2)The current balance should equal to (9000/12 * 10) $ 7500

Step 3) the adjusting entry would be

Dec 31 Unearned Revenue $ 1500 (dr)

Revenue Earned $ 1500 (Cr)

Step 1) The current balance equals to $ 400.

Step 2) The current balance should equal $ 100

Step 3) The adjusting entry would be

Dec 31 Unearned Services Revenue $ 300 (dr)

Services Revenue Earned $ 300 (Cr)

Step 1) The current balance equals to $ 3000.

Step 2) The current balance should equal ( $ 30,000/12 *4= $ 10,000) $ 30,000- $ 10,000= $ 20,000

Step 3) The adjusting entry would be

Dec 31 Unearned Rent Revenue $ 10,000 (Dr)

Rent Revenue Earned $ 10,000 (Cr)

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Answer:

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Explanation:

What is subordination and why is it important? 

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Suppose the comparative balance sheets of Windsor, Inc. are presented here. WINDSOR, INC. Condensed Balance Sheet May 31 ($ in m

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Answer:

since there is not enough room here, I prepared the comparative balance sheets on an excel spreadsheet.

Explanation:

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($ in millions)

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Other assets $1,550 $1,610

Total assets $13,080 $12,200

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3 years ago

A buyer submits an offer to purchase to the listing agent. He finds out that more than several offers are coming in for the same

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Explanation:

In certain situations buyers have to consider multiple rival purchase deals. Sellers will deal with different deals in several ways.

Sellers should consider the "highest" bid; warn all potential buyers that other deals are "at the table;" they can "compare" one offer by put the another offer on the side pending a counter-offer vote, or they can "fight" one offer and refuse the other.

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3 years ago

Business executives often prefer to work with rate of return, so to overcome some of the IRR's limitations the modified IRR was

Ksju [112]

Answer:

Explanation:

MIRR equation is given by :

[(FV +ve cashflow / PV -ve cashflow)^(1/n)] - 1

FV +ve cashflow = Future value of positive cashflow at reinvestment rate

PV - ve cashflow = Present value of negative cashflow at finance rate

n = number of periods

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