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natulia [17]
3 years ago
12

$1,000 of cash was received in advance of performing services. By the end of the period, $300 had not yet been earned. (The Unea

rned revenue account was increased at the time of the initial cash receipt.) Demonstrate the required adjusting journal entry by selecting from the choices below.
A. Service revenue would be credited for $300.
B. Unearned revenue would be debited for $300.
C. Unearned revenue would be debited for $700.
D. Accounts receivable would be debited for $700.
E. Service revenue would be credited for $700.
Business
1 answer:
adelina 88 [10]3 years ago
8 0

Answer:

C. Unearned revenue would be debited for $700.

E. Service revenue would be credited for $700.

Explanation:

As we recieve the payment in-advance we take the obligation to perform our duties with the customer.

Therefore it is unearned revenue (liability)

at year-end there is a portion which is still unearned by the amount of 300 dollars Hence, the difference was earned: 1,000 - 300 = 700

we will decrease our liability against the customer and recognize the revenue by crediting service revenue.

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You've observed the following returns on Crash-n-Burn Computer's stock over the past five years: 6 percent, -14 percent, 12perce
Alexeev081 [22]

Answer:

1.6%

Explanation:

For computing the average nominal risk premium, first we have to determine the average nominal return which is shown below:

= (Stock over past five years) ÷ (number of years)

= (6% - 14% + 12% + 9% + 11%) ÷ (5 years)

= 4.8%

Now the average nominal risk premium would be

= Average nominal return - average T-bill rate

= 4.8% - 3.2%

= 1.6%

3 0
3 years ago
Cinnamon Toast Crunch cereal and Trix cereal are considered substitute goods. Because of this, one would predict that, holding a
zvonat [6]

As Crunch cereal and Trix cereal are substitute goods, then, if the price of Crunch cereal increases, then, we would see that the demand curve for Trix cereals will shift to the left

<h3>What causes demand curve to shifts to left? </h3>

In economics, when the demand curve shifts to the left it means that determinant causes demand to drop and less of the good or service is demanded.

In conclusion, if the price of Crunch cereal increases, then, we would see that the demand curve for Trix cereals will shift to the left

Read more about demand curve

<em>brainly.com/question/1979620</em>

7 0
2 years ago
(a) At a product price of $67.00 (b) At a product price of $42.00 (c) At a product price of $33.00 Will this firm produce in the
Nimfa-mama [501]

a) Yes, $67 exceeds the loss—minimizing output.

Using the MR

They will produce 9 units.

Profits per unit = $67 - $50 = $17

Total profit = $153.

(b) Yes, $42 exceeds the loss—minimizing output.

Using the MR

They will produce 6 units

Loss per unit is = $42 - $47.50 = $5.50

Total loss = $33 (= 6 x $5.50), which is less than the total fixed cost of $60.

c) No, because $33 is less than AVC. If it did produce, the quantity will be 4—By producing 4 units, it would lose $78 [= 4 ($33 - $52.50)]. and if they didn't produce, it would lose only the total fixed cost of $60.

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3 years ago
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