Homework Answers
4.
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| Jan 12 | Accounts receivable | 3,000 | |
| Service revenue | 3,000 | ||
| (To record service revenue earned) | |||
| Jan 31 | Cash | 3,000 | |
| Accounts receivable | 3,000 | ||
| (To record cash received from customer) |
5.a
Journal
|
Date |
Account Title and Explanation |
Debit |
Credit |
| May | Cash | 360,000 | |
| Unearned revenue | 360,000 | ||
| June 30 | Unearned revenue | 30,000 | |
| Subscription revenue | 30,000 |
b.
Subscription revenue received for 12 months = $360,000
Subscription revenue earned during the year (From June to Dec ) = 360,000 x 7/12
= $210,000
Unearned subscription revenue on Dec 31 = Subscription revenue received for 12 months - Subscription revenue earned during the year (From June to Dec )
= 360,000 - 210,000
= $150,000
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Problem 4-(worth 5 Points) 4) Lucent Electrical Repair performs services costing $3,000 on January 12. Lucent...
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can anyone help me to ans 27 26 25 . plz and thank you very much
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can anyone help me to ans 27 26 25 . plz and thank you very much
！！！
if it is unclear for you to view plz right click the
mouse and view it in a new tab, then it shows clean images. thank
you and plz someone to answer these for me.
Question 27 Not yet answered 6 7 Marked out of 23.00 12 13 14 Flag question 19 20 21 Presented below is information related to Victor Company at...
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Oriole Company sold $3,250,000, 9%, 10-year bonds on January 1,
2022. The bonds were dated January 1, 2022, and pay interest on
January 1. The company uses straight-line amortization on bond
premiums and discounts. Financial statements are prepared
annually.
Prepare the journal entries to record interest expense for 2022
under both of the bond issuances assuming they sold at: (1) 101 and
(2) 95. (Credit account titles are automatically
indented when amount is entered. Do not...
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I need answers for my reviewer.
1. The time period assumption assumes that an organization's activities may be divided into specific reporting time periods including all of the following A Month B Quarters C. Calendar years. D. Days 2. The 12-month period that ends when a company's sales activities are at their lowest level is called the A Fiscal year. B Calendar year. C. Natural business year. D. Accounting period 3. Courtney Company purchased equipment on November 1, 2018 and...
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