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
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.

You might be interested in
Under which circumstance would someone need disability insurance?
Mandarinka [93]
You would need Disability insurance to protect one's income in the case that he or she becomes disabled.

So circumstances could include car crashes natraul events
8 0
3 years ago
Read 2 more answers
Use the three-step demand-supply analysis discussed in class to analyze changes to the equilibrium price, and quantity in the ca
Ghella [55]

A new computer chip affects the supply curve only.

Demand-supply is an economic version of price determination in a market. It postulates that preserving all else identical, in an aggressive market, the unit price for a specific appropriate, or other traded item which includes hard work or liquid financial property, will range till it settles at a point in which the quantity demanded (at the modern price) will same the quantity supplied (on the modern-day price), ensuing in an economic equilibrium for rate and quantity transacted.

Equilibrium is a scenario wherein economic forces consisting of delivery and demand are balanced and in the absence of outside impacts the values of economic variables will no longer alternate.

Philosophical analysis is any of various techniques, typically used by philosophers in the analytic culture, to be able to "damage down" philosophical problems. Arguably the maximum prominent of those techniques is the evaluation of concepts.

Learn more about Demand-supply here: brainly.com/question/4804206

#SPJ4

7 0
2 years ago
Which type of malware could appear to be desirable to the user
allsm [11]
There are many types of malware disguise themselves as a free anti- virus program. I hope this helps! -eagle
5 0
3 years ago
1. Which of these approaches is not a way of harnessing open innovation across the internet?
rusak2 [61]

Answer:

the answer is innovation contest I think

4 0
3 years ago
Read 2 more answers
Baa-rated bonds currently yield 6%, while Aa-rated bonds yield 4%. Suppose that due to an increase in the expected inflation rat
ollegr [7]

Answer: The new confidence index is 0.7143

Explanation: Consumer confidence index which is known as the confidence index is an index used for estimating the economy of the U.S, it is published by the conference board which shows the decree of excitement in peoples's activities on their savings and spendings.

To calculate the new confidence index;

STEP1: Add the bond increase to the current bond;

6% + 1% = 7%

4% + 1% = 5%

STEP 2: FIND THE NEW CONFIDENCE INDEX

5% ÷ 7% = 0.7143

The old confidence index can also be calculated as

4% ÷ 6% = 0.6667

8 0
3 years ago
Other questions:
  • 1. Westmorland makes ink that it uses in ball point pens. The Company produces two colors of ink. One is blue; the other is red.
    11·1 answer
  • Information from observers should be used as a supplement to information from incumbents. Identify the statement that is most li
    12·1 answer
  • The study done by the Committee of Sponsoring Organizations (COSO) on financial statement frauds that occurred during the period
    5·1 answer
  • Taco Bell and McDonald’s are considering adding kiosks in restaurants for customers to place their orders. This will hopefully m
    15·1 answer
  • Generally, perfectly competitive industries such as paper and steel (commodities) are deemed to be ________ in profits to more d
    10·1 answer
  • Winnebagel Corp. currently sells 30,000 motorhomes per year at $45,000 each, and 12,000 luxury motor coaches per year at $85,000
    6·1 answer
  • A program in which students learn a specific skill for a particular job is called a?
    10·1 answer
  • The Eco Pulse survey from the marketing communications firm Shelton Group asked individuals to indicate things they do that make
    6·1 answer
  • Andy has been asked to report at a war zone to serve as an officer in the army. Which of the following statements is true in the
    6·1 answer
  • A stock has a beta of 1.3. The systematic risk of this stock is ____________ the stock market as a whole.
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!