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Gemiola [76]
3 years ago
11

On December​ 31, 2018 the balance in Energy Exploration​ Company's Unearned Revenue account was a credit of $ 10 comma 000. In​

January, 2019, the company received an advance payment of $ 12 comma 000 from a new customer for services to be performed. By January​ 31, adjustments were made to recognize $ 7 comma 000 of the revenue that had been earned during January. What was the balance in Unearned Revenue on January​ 31, 2019?
Business
1 answer:
sashaice [31]3 years ago
5 0

Answer:

$15,000

Explanation:

Given that,

Credit balance in Unearned Revenue account = $10,000

Advance payment by a customer = $12,000

Revenue earned during January = $7,000

Balance in unearned revenue:

= Credit balance in Unearned Revenue account + Advance payment by a customer - Revenue earned during January

= $10,000 + $12,000 - $7,000

= $15,000

Therefore, the balance in Unearned Revenue on January​ 31, 2019 is $15,000.

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Answer:

c.a $1,000 bond sold for $1,012.50.

Explanation:

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= $1,000 × 101.25%

= $1,012.50

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4 0
3 years ago
Bonds Payable has a balance of $1,000,000 and Discount on Bonds Payable has a balance of $10,000. If the issuing corporation red
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Answer:

Bonds Payable         $1000000 Dr

     Gain on redemption                   $15000 Cr

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Explanation:

The face value of bonds payable is $1000000 while they are a discount bond and carry a discount of $10000. The value of bonds is 1000000 - 10000 = 990000.

The bonds, however, are redeemed at 97.5 which means they are redeemed by paying 97.5% of face value which comes out to be 975000.

Thus, the difference between their value and the redemption price is the gain as value is greater than the price paid for them at redemption.

Gain = 990000 - 975000 = $15000

5 0
4 years ago
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Use AD/AS model to explain how Canadian economy saw 4% Real GDP with very little inflation. Select one: a. Canada's Aggregate de
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Answer:

The Correct Answer is "D"

Explanation:

When aggregate demand moves to the right; there is an enhancement in the general cost level just as the genuine GDP. When there is a rightward move of the aggregate supply, genuine GDP increments yet broad value level reductions. It might happen that the size of the two movements is same with the goal that cost level stays unaltered pretty much however genuine GDP increments.

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3 years ago
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Answer:

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2 years ago
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