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
JulsSmile [24]
3 years ago
14

During​ December, LafertyLaferty designed a landscape plan and the client prepaid $ 8 comma 000$8,000. LafertyLaferty recorded t

his amount as Unearned Revenue. The job will take several months to​ complete, and LafertyLaferty estimates that the company has earned 6060 percent of the total revenue during the current year. Journalize the subsequent journal entry that LafertyLaferty will record when the job is complete
Business
1 answer:
liubo4ka [24]3 years ago
5 0

Answer:

The answer is:

Dr Unearned Service Revenue 4,800

Cr Service Revenue 4,800

Explanation:

Since Laferty completed 60% of the landscape plan during this year, they should record $4,800 as earned revenue ($8,000 x 60%), while the remaining $3,200 should stay as unearned revenue. The journal entries should be as follows:

Dr Unearned Service Revenue 4,800

Cr Service Revenue 4,800

You might be interested in
What is the maximum total depreciation deduction that Chaz may deduct in 2020?
jenyasd209 [6]

Answer:

$ 2,103,479

Explanation:

Maximum total depreciation deduction $ 2,103,479 Chaz Corporation has taxable income in 2020 of $368,000 for purposes of computing the §179 expense and acquired the following assets during the year: Assume CARES Act applies.

4 0
3 years ago
If, over a given period, the index of export prices rises by 10% and the index of import prices rises by 5%, the terms of trade
Scrat [10]

Answer:

B) False

Explanation:

When the terms of trade improve, it means that a country is actually selling more goods and services to foreign countries than the total amount of goods and services it is importing from foreign countries. For every dollar that a country is exporting, it is importing less than 1 dollar. But this improvement in the terms of trade will actually result in an appreciation of the domestic currency. This means that for every dollar that you export, you will be able to import more goods from foreign countries.

3 0
3 years ago
Sound Audio manufactures and sells audio equipment for automobiles. Engineers notified management in December 2021 of a circuit
denis-greek [22]

Answer:

Sound Audio

Yes.  This loss should be accrued.

Explanation:

Accruing the loss contingency gives the readers of the financial statements an early warning of the probable existence of a future loss.  A loss contingency arises from a probable future event, which gives rise to an adverse outcome from a lawsuit.  Since the cost of the loss can be reasonably estimated and the product recall is virtually certain, it is prudent for Sound Audio to provide for this loss in its December 2021 financial statements.

3 0
3 years ago
Convert 32.7 kilograms to centigrams DUE IN 10 MIN
ryzh [129]

Answer:

A IS THE ANSWER

Explanation:

TO CONVERT KG TO CG YOU MULTIPLY YOUR NUMBER BY 100000 SO 32.7 x 100000 = 3,270,000 cg

8 0
3 years ago
Suppose that a young couple has just had their first baby and they wish to ensure that enough money will be available to pay for
yuradex [85]

Answer:

B. $40,955.35

Explanation:

The computation of the amount that need to pay is shown below:

The Amount needed at 18 age is

= Present value of all future expenses

= $8000 × (1.02)^18 + $8,000 × (1.02)^19 ÷ 1.1 +$ 8000 × (1.02)^20 ÷ (1.1)^2 + $8,000 × (1.02)^21 ÷ (1.1)^3

= $11,425.6 + 10,594.98 + 9,824.44 + 9,109.39

= $40,954.95

It is nearest to option B

7 0
3 years ago
Other questions:
  • A machine was purchased at a cost of $52,000. The equipment had an estimated useful life of seven years and a residual value of
    5·1 answer
  • Who is the owner of Amazon
    13·2 answers
  • The following is a partially completed lower section of a departmental expense allocation spreadsheet for Brickland. It reports
    10·1 answer
  • The Model Privacy notice was introduced in 2010. Which statement about the notice is true?
    12·1 answer
  • Many business application software vendors are pushing the use of _____ for small and medium-sized enterprise (SME) to help cust
    15·1 answer
  • Select the desktop publishing programs.
    12·1 answer
  • ​Tara, a​ pharmacist, is planning on opening her own pharmacy. Tara currently earns​ $50,000 a year at her job. She has calculat
    13·1 answer
  • As price falls along a downward sloping ordinary demand curve (in the x1, p1 plane), consumer utility will Group of answer choic
    12·1 answer
  • The May transactions of Hanschu Corporation were as follows.
    11·1 answer
  • ______________is the exercise of individual judgement, instead of formal rules, in making decisions.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!