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Anit [1.1K]
3 years ago
6

Yurman Co. sells major household appliance service contracts for cash. The service contracts are for a one-year, two-year, or th

ree-year period. Cash receipts from contracts are credited to unearned service contract revenues. This account had a balance of $960,000 at December 31, 2016 before year-end adjustment. Service contract costs are charged as incurred to the service contract expense account, which had a balance of $240,000 at December 31, 2016. Outstanding service contracts at December 31, 2016 expire as follows: During 2017 During 2018 During 2019 $200,000 $320,000 $140,000 What amount should be reported as unearned service contract revenues in Yurman's December 31, 2016 balance sheet
Business
1 answer:
Ksju [112]3 years ago
8 0

Answer:

$660,000

Explanation:

Relevant data provided

During 2017 = $200,000

During 2018 = $320,000

During 2019 = $140,000

As per the given question the solution of Amount to be reported as unearned service contract revenues is provided below:-

Amount to be reported = During 2017 + During 2018 + During 2019

= $200,000 + $320,000 + $140,000

= $660,000

To reach  amount to be reported as unearned service contract revenues we simply put the values into formula.

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Answer:

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Explanation:

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4 years ago
Which sentence best describes how a low supply of apples would affect their cost?
blagie [28]
I think it's A.
If supply increases, cost decreases.
If supply decreases, cost increases.


I hope it helped you!
7 0
3 years ago
Read 2 more answers
A law used to finance public services, such as waste treatment plants, parks, and schools, in newly developed areas, can result
Troyanec [42]

The law is  Mello-Roos Community Facilities Act of 1982.

Senator Henry Mello and the Assemblyman Mike Roos worked together in order to enact the "Mello-Roos Community Facilities Act of 1982," which authorized local governments and the  developers to form Community Facilities Districts (CFDs) to issue tax-exempt bonds to fund public works.

The Mello-Roos Community Facilities Act of 1982 is a statute that is used to finance public services in newly built regions, such as waste treatment facilities, parks, and schools. This might result in additional taxes on top of the regular property taxes and must be disclosed to any buyer prior to the acquisition.

Therefore, the answer is Mello-Roos Community Facilities Act of 1982.

To know more about Mello-Roos Community Facilities Act of 1982 click here:

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4 0
2 years ago
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<em>Cross Profit :</em>

<em></em>

<em>The profit a company makes after deducting all costs associated with creating and selling its products or services is known as gross profit. By subtracting the cost of goods sold (COGS) from total sales, you may compute gross profit.</em>

<em></em>

<em>Gross Loss Carriage :</em>

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<em>the entire sum of a company's losses from various operations in a given period, even if some of these activities are profitable: The corporation announced a second-quarter gross loss of $17.15 billion today.</em>

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