A client pays a company the full 12000.

On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the Accrual method, what's the unearned revenue as of December 31? Solution On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?Journal Entry Worksheet. a) On April 2, the company prepaid $9,000 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,200. d) Straight-line depreciation of office ...Since the company receives $12,000 from its sole stockholder, this means that the $12,000 received is either in a form of cash or issued check. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer.

To calculate the total amount of interest Billy will pay on his $12,000 student loan at an annual interest rate of 4.25% over 10 years, we can use the formula for simple interest: Interest = Principal × Rate × Time. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the ...

Question: On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the Accrual method, what's the unearned revenue as of December 31? Solution

1 Nov 2022 ... Under the contract, M will pay the full amount in advance. ... Media Company M ... • a commission earned on the allotment of shares to a client;.On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?The original purchase price of the merchandise was $88,000, however, Garden Company returned $12,000 worth, therefore, their payable amount would be $88,000 - $12,000 = $76,000. Based on the terms 1/15, net 45, Garden Company is entitled to a 1% discount if they pay within the first 15 days.Crime Does Pay (for the Phone Company): Prison Telephone Services - Prison telephone services attempt to give prisoners a cheaper way to call home. Find out why prisoners are so de...

Business; Finance; Finance questions and answers; An annuity that pays $12,000 a year at an annual interest rate of 5.25 percent costs $154,000 today. What is the length of the annuity time period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.

On January 1, a company pays one year of rent in advance, which is a prepayment of expense and is initially recorded as an asset. On January 31, the end-of-month adjustment for using one month of the prepaid rent would result in an: A) Increase in expenses. ... On October 1, a client pays a company the full $12,000 balance of a year-long ...Phil is a calendar year taxpayer and a landlord. He also runs a lawn care business. In December 2022 , a tenant pays him $6, 000 rent for January 2023. In January 2023 , another tenant pays him $12, 000 rent for November and December 2022. In December 2022, a client pays him $9, 000 for three law care sessions, one in January 2023, one …)A company makes a net profit before tax of $5,000 and has total assets with a value of $10,000. Calculate the company's return on assets as a percentage. (0.5 points) 3. A company has $1,400 in liabilities and $1,500 in assets. Calculate the company's debt ratio as a percentage. (0.5 points) 4. A company has $1,400 in liabilities and $1,500 in ...On October 1, a client made a payment of $12,000 to our company. This payment is recorded as a credit to the client’s account. The purpose of this payment is to settle an outstanding invoice for services rendered. The invoice was issued on September 15 for $12,000, and the payment was received on October 1. Accounting ImpactOn October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of December31? On July 1, a company receives an invoice for $800 with the terms 1/10, net 30.Accounts Payable. On August 1, Sierra Sports purchases $12,000 of soccer equipment from a manufacturer (supplier) on credit. Assume for the following examples that Sierra Sports uses the perpetual inventory method, which uses the Inventory account when the company buys, sells, or adjusts the inventory balance, such as in the following …

Business. Accounting questions and answers. On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the …On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.The $12,000-$3, 000=$9 000 would be an earned revenue on December 31 as it is the three-quarter of the nine months remaining until the completion of the contract. This balance of the unearned revenue signifies the residual prepaid amount that is still owed by the company with regards to the future goods or services due at a later date .Barney's CPA business has a monthly accounting profit of $16,875 after subtracting explicit costs from revenue and a monthly economic profit of $4,560 after accounting for implicit costs such as foregone salary and lost rental income. ... a client pays a company the full $12,000 balance of a year-long contract. Using the accrual …Gross and net income are two ways to measure income that are quite different. Learn how to calculate both, and why they matter in budgeting and tax prep. For individuals, gross inc...

Crime Does Pay (for the Phone Company): Prison Telephone Services - Prison telephone services attempt to give prisoners a cheaper way to call home. Find out why prisoners are so de...

You can cancel anytime! Get instant answers from our online experts! Our experts use AI to instantly furnish accurate answers. Answer of On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of...On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of December31? A company sells 10,000 shares of previously authorized stock at the par value of $10 per share.Question: Your calendar year company pays $12,000 a year for security services. On November 1. you remit payment for the next 3 months' service and record it in Prepaid Security Expense. At year end, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. Security Expense 3,000 Prepaid Security Expense 3. ...On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?As technology continues to advance, so does the convenience of managing our day-to-day tasks online. One such task is paying our electricity bills. Gone are the days of waiting in ...May 12, 2022 · The unearned revenue as of December 31 will be $ 12,000. Reason been that the amount that the client paid the company is for a year- long contract, hence the $ 12,000 represent a prepayment amount for the service the company is yet too rendered to their client. Thus, using the accrual method, the unearned revenue as of December 31 is $ 12,000. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed, in increments of $2,000, and repaid on the last day of each month; the interest rate is 1 percent per month. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned ...When Cullumber Company pays $12,000 for a 3-year insurance contract on July 1, 2019, an initial journal entry is made to record the payment. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. Load more. New questions in …

Answer. Determine the unearned revenue as of December 31 The unearned revenue as of December 31 is the portion of the contract that has not been earned yet. …

As of Dec. 31 the company had completed $12,000 of work for a client that will be billed in January. The adjusting entry to record this is debit Accounts Receivable. $12.000; credit Service Revenue, $12,000 Onone, no adjusting entry is needed debit Accounts Receivable, $1,000; credit Service Revenue, $1,000 debit Service Revenue. $12.000; credit Accounts Receivable. $12.000

If a company receives $12,000 from its sole stockholder to establish a corporation, the effect on the accounting equation would be: ... The owner invested $40,000 cash in the business in exchange for its common stock. 2.The company purchased office supplies for $3,000 by paying $2,000 cash and putting $1,000 on credit. 3.The company purchased ...On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?The final single payment to be made at the end of the 3rd year after a company buys a machine for $12,000 and pays for it in five equal annual payments with an interest rate of 4%, with terms changing after the second payment. ... a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, …Study with Quizlet and memorize flashcards containing terms like Which financial product typically pays the highest rate of interest?, Troy has $50.00 a month transferred electronically from his checking account to his savings account. This is an example of:, When a person is reconciling a checking account and notices that the balance in the …Use the percentage method of income tax calculation to complete the payroll roster (in $). Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers.Cerritos College - Enroll today for summer and fall classes!On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?

This means the company spent $25,000 during the year on inventory that it sold. Explore all similar answers. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. Load more.Nov 12, 2019 · None of the multiple choices is correct. The correct answer should be: "Business profit will increase by $12,000 per year" Explanation: $12,000 per year is the rental rate. If his Uncle Fred gives him the building, George will not pay the rental fee. Thus, the business profit will increase by $12,000 per year. The company desires to maintain a cash cushion of $10,000. Funds are assumed to be borrowed, in increments of $2,000, and repaid on the last day of each month; the interest rate is 1 percent per month. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned ...Here’s the best way to solve it. Calculate the amount of Unearned Rent Revenue for four months by multiplying the total amount of $24,000 by 4 then divide by 6. --The following adjustment entry will be needed fo …. On September 1, a client paid the company $24,000 cash for six months of rent in advance (the client leased a building and took ...Instagram:https://instagram. el sabor de mi hfl flywheelersfedex in cumming gamsycs Accounting. Accounting questions and answers. On July 1, 2022, Damen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy Prepare the necessary journal entries for Damien Jurado on July 1 and December 31. (Credit account titles are automatically Indented when the amount is entered. Do not …Sep 23, 2023 · The business's assets (cash or bank account) are first reduced by $12,000 when it pays $12,000 ($1,000 per month) for one year's rent in advance on January 1.At the end of January, an adjustment entry is made to reflect this: shane gillis educationinmate search asheville nc It shows that you paid a total of $7,560.49 in interest for the year. ... If your business is a corporation, it is a separate entity required to pay income taxes. phoenix arizona gun show On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.The $12,000-$3, 000=$9 000 would be an earned revenue on December 31 as it is the three-quarter of the nine months remaining until the completion of the contract. This balance of the unearned revenue signifies the residual prepaid amount that is still owed by the company with regards to the future goods or services due at a later date .Business; Finance; Finance questions and answers; An annuity that pays $12,000 a year at an annual interest rate of 5.25 percent costs $154,000 today. What is the length of the annuity time period? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)