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
Mice21 [21]
3 years ago
12

John Grey owns Grey's Snow Plowing. In October, he collects $12,000 cash for 6 commercial accounts for which he will provide sno

w plowing for the next three months. John recorded the cash collection as an unearned revenue. To record the adjusting entry in November, when $4,000 has been earned:
o Debit Unearned Plowing Revenue
o Credit Plowing Revenue Earned
Business
1 answer:
mote1985 [20]3 years ago
4 0

Answer:

The correct answer is Debit Unearned Plowing Revenue

Explanation:

Earlier the journal entry would be recorded as:

Cash A/c.................................................Dr    $4,000

    Unearned Plowing Revenue A/c..............Cr   $4,000

But the correct entry that should be recorded is:

Cash A/c.................................................Dr    $4,000

    Plowing Revenue Earned A/c..............Cr   $4,000

So, in order to pass the adjusting entry, we should debit the Unearned Plowing Revenue in order to reconcile or nill the same account by debiting.

You might be interested in
Both examples below illustrate which element of the assertive message format? example 1: "yesterday, kristopher promised me he w
anzhelika [568]
<span>Both of these examples are illustrative of the "behavior" element of the assertive message format. These example are objective in that they only outlined what happened in a given situation. Although the second may appear to have an emotional connotation, it simply gives an objective impression of what happened.</span>
8 0
3 years ago
Suppose a farmer in Georgia begins to grow peaches. He uses​ $1,000,000 in savings to purchase​ land, he rents equipment for ​$1
mina [271]

Answer:

-$475,000

Explanation:

Total revenue = Baskets of peaches × Price

                       = 100,000 × $3

                       = $300,000

Explicit cost:

= Rent equipment + wages

= $100,000 + $100,000

= $200,000

Implicit cost:

= Land × Interest + salesman earned

=  $1,000,000 × 0.55 + $25,000

= $575,000

Total cost = Explicit cost: + Implicit cost

                = $200,000 + $575,000

                = $775,000

Economic profit = Total revenue - Total cost

                           = $300,000 - $775,000

                           = -$475,000

8 0
3 years ago
Pls choose A,B,C, or D!!
Artemon [7]

Answer:

a

Explanation:

6 0
3 years ago
Read 2 more answers
Price Adjustments This activity is important because as marketing managers set final prices, they start with the list (quoted) p
EleoNora [17]

Answer:

1. Discount

2. Geographical adjustments

3. Allowance

4. Discount

5. Allowance

6. Discount

Explanation:

1. Discount for early purchase and delivery order of chlorine and shock products

2. Geographical adjustment of price, due to shipping and handling costs

3. Allowance given to Raquel for the old ring; to help/encourage her purchase a new one (from the store)

4. Discount on the price or cost of purchase, for customers (like Joshua) who would buy more socks at a go

5. Allowance Capri Sun gives to Safeways Store, for every 15 cases of Capri Sun ordered and displayed in front of the store

6. Discount incentive/bonus Amazon is offering its Prime members. Take note of the nomenclature "Prime members". These are customers who make frequent orders or order a lot of products. Amazon is herefore offering a discount.

NOTE:

- A discount is offered to reduce the cost of purchase - which could be direct or indirect - while an allowance is given to encourage a business deal; as in numbers 3 and 5.

7 0
3 years ago
An individual's definition of self changes with age because
ziro4ka [17]
While one grows, you start to mature and when you mature you "change".
3 0
3 years ago
Read 2 more answers
Other questions:
  • The board of directors of Orange Corporation, a calendar year taxpayer, is holding its year-end meeting on December 28, 2010. On
    15·1 answer
  • Jackson's Programming paid its June rent of $500 cash. Demonstrate how to use the accounting equation to record the transaction
    5·1 answer
  • Select which of the ways that entrepreneurs improve the economy is being described:
    13·1 answer
  • Jacques lives in San Diego and runs a business that sells boats. In an average year, he receives $728,000 from selling boats. Of
    8·1 answer
  • Less than 18 percent of voluntary customer contributions in a recent year went to renewable energy development in the duke power
    13·1 answer
  • What is used as a set of standard in measurement?​
    13·2 answers
  • The last stage of the new-product development process is
    11·1 answer
  • Lash World Pool Supplies wants its salespeople to call on pool wholesalers five times per year and to spend two hours on each sa
    7·1 answer
  • How would the following transactions affect U.S. exports, imports, and net exports?
    11·1 answer
  • Rachel's Recordings reported net income of $280,000. Beginning balances in accounts receivable and accounts payable were $15,000
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!