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kolezko [41]
3 years ago
9

n May 1, 2009 Giltus Advertising Company received $1,500 from Julie Bee for advertising services to be completed April 30, 2010.

The Cash receipt was recorded as unearned fees and at December 31, 2009, $1,000 of the fees had been earned. The adjusting entry on December 31 Year 1 should include:Select one:a. A debit to Unearned Fees for $500.b. A credit to Unearned Fees for $500.c. A credit to Earned Fees for $1,000.d. A debit to Earned Fees for $1,000.e. A debit to Earned Fees for $500.
Business
1 answer:
Alenkinab [10]3 years ago
8 0

Answer:

c. A credit to Earned Fees for $1,000.

Explanation:

As for the information provided, we know

Unearned income is an income account, and therefore, will be credited at the time of recording.

Further, it is told that as on 31 December, 2009 out of the total unearned income of $1,500, $1,000 is earned.

Since it is earned it has to be accounted in current year, for this earned income will be credited and unearned income will be reversed for the amount of earned income that is for $1,000.

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Any voluntary disenrollment occurring within three (3) months of the membership effective date is considered a rapid disenrollme
iragen [17]

Answer: true

Explanation:

The reports available on Aetna's producers world are ones Medicare business book, month or year of commission report and licensing reports.

The requirements necessary to have ready-to-sell Aetna Medicare status are

Aetna Individual Medicare certification for the products one intend to sell, active contract through Medicare Producer Contracting site, having a licensed in the state one wants to sell and also passed ng a check done background.

Any voluntary disenrollment occurring within three (3) months of the membership effective date is considered a rapid disenrollment and will result in a chargeback of the full commission paid is true.

8 0
3 years ago
1. Diane Lexington begins business as a real estate agent with a cash investment of $28,490 in exchange for common stock. 2. Hir
iragen [17]

Answer:

Explanation:

According to the scenario, the following transaction can be put in journal as follows:

Date            Account Titles          Ref.                 Debit ($)        Credit ($)

Oct. 1              Cash                                                          $28,490

                      Common stock                                                                 $28,490

Oct.2               No journal

Oct.3              Office furniture                                          $3,276

                      Accounts payable                                                              $3,276

Oct.4              Account receivable                                   $3,600

                      Revenue on service                                                           $3,600

Oct.5              Accounts payable                                     $850

                      Cash                                                                                    $850

Oct.6              Salary expense                                         $2,500

                      Cash                                                                                    $2,500

5 0
3 years ago
A company purchased a new delivery van at a cost of $44,000 on July 1. The delivery van is estimated to have a useful life of 5
Rainbow [258]

Answer:

$4080

Explanation:

Straight line method of depreciation is a method of calculating depreciation expense of an asset after years of usage.

Given;

Initial cost of asset = $44,000

Salvage value = $3,200

After five years the asset has depreciated by ($44000-$3200) i.e

$40800

Depreciable asset cost = $40,800 (after 5years)

To determine the depreciation amount recorded during the first year ending 31st December;

Since the van was purchased July 1 of that year, by December 31 of the same year, the van must have been used only for 6months i.e (0.5year)

Depreciation expense = year of usage/total useful life × depreciable cost of asset

Depreciation expense = 0.5/5×$40,800

Depreciation expense = $20,400/5

Depreciation expense = $4080

4 0
4 years ago
Which of the following is a limitation of the direct write-off method of accounting for uncollectibles? a) The direct write-off
kotykmax [81]
The answer is

d) All of the above
8 0
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When the United States begin to industrialize in the late 18th and early 19th centuries employers had a little incentive to spen
ycow [4]

This began to change when president Truman started a campaign called the trust buster

Truman passed endless laws like the meat inspection act and he made monopolies illegal.

Beatniks were also influential in Truman's time for writing novels exposing this reality.

Year 1900 to be approximate

4 0
3 years ago
Read 2 more answers
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