A client pays a company the full 12000.

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 …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?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 December 31.

On October 1, Organic Farming purchases wind turbines for $140,000. the turbines are expected to last six years, have a salvage value of $20,000, and be depreciated using the straight-line method. 1. Compute depreciation expense for the last three months of the first year. 2. Compute depreciation expense for the second year.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 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 to rendered to their client. Inconclusion using the accrual method, the unearned revenue as of December 31 is $12,000.

The interest rate is 11.5%, so we multiply the loan amount ($12,000) by the interest rate (0.115) to find the annual interest: $12,000 * 0.115 = $1,380 So, each year, you will pay $1,380 in interest. Since there are four equal end-of-year payments, the interest payment will be the same for each year.

Many companies use services or software to allow employees to access their pay stubs electronically. These services are often provided by a third party, and are usually accessible ...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...The company also pays its vendors on the last day of the month. It pays interest of 1 percent per month in cash on the last day of the month. To be prudent, the company desires to maintain a $6,000 cash cushion. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, …As technology continues to advance, more and more companies are offering online bill payment options to their customers. Duke Energy is no exception. If you are a Duke Energy custo...Cerritos College - Enroll today for summer and fall classes!

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In today’s competitive business landscape, it is crucial for companies to provide exceptional customer experiences right from the start. One way to achieve this is by implementing ...Get four FREE subscriptions included with Chegg Study or Chegg Study Pack, and keep your school days running smoothly. 1. ^ Chegg survey fielded between Sept. 24–Oct 12, 2023 among a random sample of U.S. customers who used Chegg Study or Chegg Study Pack in Q2 2023 and Q3 2023. Respondent base (n=611) among approximately 837K invites.May 9, 2024, 4:02 AM PDT. Sundar Pichai, chief executive officer of Alphabet, was grilled by staff on when they can expect a pay rise. David Paul Morris—Bloomberg - …6 days ago · Cash. $12,000. 1-15-2020. Unearned Revenue. $12,000. By posting the payment to the unearned revenue account, the revenue will not be recognized until the goods or services are provided. On January ... 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? a. Debit cash$10,000, credit …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 .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:

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. ...Dec 31, 2015 · On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. The adjusting journal entry on December 31, 2015 is: You own an insurance company. On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. There are 2 steps to solve ... Accounting questions and answers. Answer the following 30 questions please. Q1. On November 1, Year One, a company is paid $12,000 in advance to do a job for a customer. The job has ten separate steps. The first four steps were completed in Year One and the remaining six steps were completed in Year Two. The accountant mistakenly believed that ...InvestorPlace - Stock Market News, Stock Advice & Trading Tips With its decision in Dobbs v. Jackson Women’s Health Organization, the Su... InvestorPlace - Stock Market N...On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. The adjusting journal entry on December 31, 2015 is: You own an insurance company. On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. There are 2 steps …Dec 6, 2019 · Leno Company will record a debit to Cash in the amount of: D. $9,800. Explanation: The terms of 2/10, n/30 means 2% discount for the payment within 10 days and the full amount to be paid within 30 days. Fallon Company pays the invoice within the discount period - early enough to receive a 2% discount. The discount amount is 2% x $10,000 = $200.

The student's question is about calculating the interest rate for a perpetuity offered by an insurance company. The perpetuity pays $12,000 annually and is sold for $250,000. By applying the formula for the yield of a perpetuity, we find that the implied interest rate is 4.8%. Explanation: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?

If a company starts the year with an inventory of $10,000 and has purchases for resale during the year worth $20,000, what is the cost of goods sold if the inventory on December 31 is $5,000? Verified by Proprep Tutor. Ask a tutor. If you have any additional questions, you can ask one of our experts. ...Your calendar year company pays 12,000 a year for security services. On November 1, you remit payment for the next 3 months' services and record it in prepaid security expense. At year end, What adjusting entry will you record? Here’s the best way to solve it. Expert-verified. 100% (2 ratings)In today’s business landscape, the topic of CEO compensation has become a subject of intense scrutiny. Shareholders, employees, and the general public are increasingly interested i...Client onboarding is a crucial process for any business. It involves welcoming new clients, gathering necessary information, and ensuring a smooth transition into the company’s pro...Many companies use services or software to allow employees to access their pay stubs electronically. These services are often provided by a third party, and are usually accessible ...To make the total pay the same, we can set Total Pay1 equal to Total Pay2: $12000 + $900x = $18400 + $500x. Now, we can solve this equation to find the value of 'x', which represents the number of cars needed to make the total pay the same. Subtracting $500x from both sides: $12000 + $400x = $18400. Subtracting $12000 from both sides: $400x = $6400May 11, 2022 · Note that in this scenario, revenues and expenses should be recognized in the same period. So, By the use of accrual method, the unearned revenue as of December 31 1 is $ 12,000. See full question below. 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 ... Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year? A. $194,136 ... a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned …Get four FREE subscriptions included with Chegg Study or Chegg Study Pack, and keep your school days running smoothly. 1. ^ Chegg survey fielded between Sept. 24–Oct 12, 2023 among a random sample of U.S. customers who used Chegg Study or Chegg Study Pack in Q2 2023 and Q3 2023. Respondent base (n=611) among approximately 837K invites.

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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?

Business; Accounting; Accounting questions and answers; Leyland Realty Company received a check for $12,000 on July 1 , which represents a 6-month advance payment of rent on a building it rents to a client. Unearned Rental Revenue was credited for the full $12,000. Financial statements will be prepared on July 31 .When the note matured on December 31, the customer was unable to pay, and the company recorded the dishonor. The amount of the debit recorded on December 3; Greene Company's December 31 year-end financial statements contained the following errors: A three-year insurance premium of $9,000 was prepaid in 2013 covering the years 2013 …On October 1, Hughes Company paid $12,000 for two years of insurance in advance. Hughes Company recorded the transaction by debiting Prepaid Insurance and crediting Cash. Required: Journalize the adjusting entry on December 31. Intermediate Accounting: Reporting And Analysis. 3rd Edition. ISBN: 9781337788281.Unearned revenue is the amount received from a client for a service that has yet to be rendered. On October 1 , a client pays a company the full $ 12,000 balance of a yearlong contract. Using the accrual method, what's the unearned revenue as of December 31.Groro Company bills a client $55,000 for services provided and agrees to accept the following three items in full payment (1) $30,000 cash, (2) $55,000 of equipment, and (3) $30,000 note payable owed on the equipment (a) Analyze the transaction using the accounting equation (6) Record the transaction in Journal entry form (c) Post the entry …Your phone bill arrives like clockwork each month, so you’ll need to budget for this expense. Phone companies have created a variety of ways for their customers to pay their bills ...Jan 23, 2024 · On July 1, a client paid an advance payment (retainer) of $5,000 to cover future legal services. During the period, the company completed $3,500 of the agreed-upon services for the client. There was no beginning balance in the Unearned Revenue account for the period. In today’s digital age, freelance writing has become a popular way for individuals to earn a living while pursuing their passion for writing. Upwork is one of the largest online pl...

Sep 16, 2023 · When Dallas Company bills a client for $14,000, ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method ... Many businesses estimate tax liability and make payments throughout the year (often quarterly). When a company overestimates its tax liability, this results in the business paying a prepaid tax. Prepaid taxes will be reversed within one year but can result in prepaid assets and liabilities.May 11, 2022 · Note that in this scenario, revenues and expenses should be recognized in the same period. So, By the use of accrual method, the unearned revenue as of December 31 1 is $ 12,000. See full question below. 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 ... Instagram:https://instagram. weather forecast appleton wi 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 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? Here’s the best way to solve it. Expert-verified. 98% (41 ratings) what happened to edp A business tenant pays 2% of his total gross sales volume as rent, with a minimum base rental of $1,000 per month. In the past year, his sales totaled $435,000. ... 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.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 December31? On October 1, a client pays a company the full $12,000 balance of a year long contract. holding out hand meme Many companies use services or software to allow employees to access their pay stubs electronically. These services are often provided by a third party, and are usually accessible ... big lebowski gif Thus, the remaining unearned revenue is $9,000. Unearned revenue is the amount received from a client for a service that has yet to be rendered. Since the … paulineanndv Step 1. On July 1, 2022, Crane Company pays $12,000 to Wildhorse Co.for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co.. Wildhorse uses the accounts Unearned Service Revenue and Service Revenue. weather 92504 Profit $ 12,000. Explanation: a) Data and Calculations: Annual Wages for helper = $14,500 ... On October 1, a client pays a company the full $12,000 balance of a year ... asian food store jacksonville fl To make the total pay the same, we can set Total Pay1 equal to Total Pay2: $12000 + $900x = $18400 + $500x. Now, we can solve this equation to find the value of 'x', which represents the number of cars needed to make the total pay the same. Subtracting $500x from both sides: $12000 + $400x = $18400. Subtracting $12000 from both sides: $400x = $6400 Descriptions: 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. More : 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 October 1, a client pays a company the full $12,000 balnace of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31? $0 $1,000 … walgreens san francisco photos Your phone bill arrives like clockwork each month, so you’ll need to budget for this expense. Phone companies have created a variety of ways for their customers to pay their bills ...When Dallas Company bills a client for $14,000, ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method ... lake st clair fishing report today 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? $0 $1,000 $5,000 $9,000 $12,000 One website gives two answer $9,000 and $12,000, then i asked chatgpt, it even gives me another answer $0 Now i'm really confused..... please help heb kostoryz pharmacy Journal entries are the way we capture the activity of our business. When a business transaction requires a journal entry, we must follow these rules: The entry must have at least 2 accounts with 1 DEBIT amount and at least 1 CREDIT amount. The DEBITS are listed first and then the CREDITS. The DEBIT amounts will always equal the CREDIT amounts.On-demand pay is a popular company benefit offering for employees. Learn what on-demand pay is and how to implement it for your company. Human Resources | What is WRITTEN BY: Charl... racquel natasha On September 1, 2019, Two Sisters Company pays $36,000 cash for six months rent. The balance in prepaid rent on December 31, 2019, after adjustment, would be: $24,000. $0. $6,000. $12,000. 5. The links among the financial statements are: a. ending capital from the income statement to the statement of owner's equity.When Dallas Company bills a client for $14,000, ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method ...