Question

Ā -- Requires Respondus LockDown Browser ime Left:0:28:42 Grace Mathew: Attempt 1 Question 1 (1 point) Wentworth Company received advance payments from customers during 2015 of $10,000. At December 31, 2018, $1,000 of the advance payments still had not been earned. After the adjustments are recorded and posted at December 31, 2018, the balances in the Unearned Service Revenue and Service Revenue accounts will be: Unearned Service Revenue a. $1,000 b. $1,000 c. $11,000 d. $ 9,000 Service Revenus $9,000 $10,000 $1,000 $10,000 ОА OB Question 2 (1 point) Winston Corp. had $1,800 of supplies on hand at January 1. During the year, supplies with a cost of $4,000 were purchased. At December 31, the Itual supplies on hand amount to $1,300. After the adjustments are recorded and posted at December 31, determine the balances in the Supplies and Supplies Expense accounts Supplies Supplies Expense a $1.00 $4,500 b. $1,300 $4,500 c. 55,300 $5,800 d. 51,300 $5,800 MacBook Air ** 14

Answer 1

Out of the Unearned Service Revenue balance of $ 10,000, we have not yet earned $ 1,000 and balance $ 9000 is earned. Thus Service Revenue us $ 9000 and Unearned Service Revenue is $ 1,000. Hence Option A is correct.