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Pie
2 years ago
14

An advance payment of $1,000 for services was received on December 1 and was recorded as a liability. By the end of the year, $4

00 has been earned. What is the correct adjusting entry that should be include?
Business
2 answers:
Mrrafil [7]2 years ago
5 0

Answer:

Debit unearned revenues for $400

Explanation:

Adjusting entries are journal entries made to record revenues and expenses accounts. These entries are made at the end of an accounting cycle.

Payment received for services on December 1 that was recorded as a liability = $1,000

Amount earned by the end of the year = $400

Therefore,

adjusting entry: Debit unearned revenues for $400 so that expenses matched to the accounting period in which the revenue paying for them is earned.

serious [3.7K]2 years ago
3 0

Answer:

The answer is "$400"

Explanation:

Given:

advance payment = $ 1,000

by the end of year he earned= $ 400

So, the total eared value is $ 400 because it is the Debit unearned income.

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aner, Harris & Chan is a consulting firm that specializes in information systems for medical and dental clinics. The firm ha
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Answer:

1. $ 136,500

2. $70000

3. Medical market

Explanation:

1. Calculation to determine How much would the company's profits increase (decrease) if it implemented the advertising campaign in the MEDICAL MARKET

First is to calculate the sales

Sales = (400 000 + 70 000)

Sales = $470 000

Second step is to calculate the profit

Variable cost =$470 000 *65%

Variable cost=$305 500

Contribution =$470 000*35%

Contribution =$164,500

Fixed Expense= $28 000

Profit = $ 136,500

Now let calculate the Difference made by advertisement

Difference = 136500 - 120000

Difference=16500

2. Calculation to determine How much would the company's profits increase (decrease) if it implemented the advertising campaign in the

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vcr Of The Dental market = 50%

Variable cost =50% $260 000

Variable cost = $130 000

Contribution = $130 000

Fixed expenses = $60 000

Profit = $70000

Now let determine difference made by the advertisement

Difference =(70000) - 48000

Difference= 22000

3. Based On the above calculation the markets I would recommend that the company focus its advertising campaign is medical market

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2 years ago
Imagine that you are the CEO of Wal-Mart. Pick three ways discussed in this section to explain how you would improve customer se
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Answer:

make sure workers aren't slacking and helping customers

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Through conscious repetition of information, we can encode information for long-term storage. this is known as _____.
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