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.
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?
Principal amount: $12,000 Term: 3 years Coupon rate: 5% Coupon payment: $600 b. ... On October 1, a client pays a company the full $12,000 balance of a year-long ...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?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.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 balnace of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31? a. $0 b. $1,000 c. $5,000 d. $9,000 e. $12,000Xanadu returned merchandise with an invoice amount of $2,800 and received full credit. a. If Xanadu Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $ ... On October 1, a client pays a company the full $12,000 balance of a year-long ...Customer reviews are an invaluable source of information for businesses. They provide insight into how customers perceive your company and products, and can help you identify areas...Payment is due within 10 days. Apr. 19 The compa Apr. 6 The company completed services for a client and immediately received $4,000 cash. Apr. 9 The company completed a $6,000 project for a client, who must pay within 30 days. Apr. 13 The company paid $11,600 cash to settle the account payable created on April 3. company …
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 Business. Information can sometimes be better presented using (1 point) O long gray or black blocks of text O small font charts or graphs Onone of …What is Accrual accounting? This is known to be an accounting method where the revenue or expenses are known to be recorded and a transaction is said to …A company started the year with $10,000 of inventory. Purchases for resale during the year were $20,000. Inventory on December 31 is $5,000. What's the cost of goods sold? $5,000. $10,000. $25,000. $30,000. $35,000. Question 12/12. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share.A landlord plans to take out a $12,000 loan to cover the cost of a new roof for a rental home. if the loan has a 5% annual interest rate compounded continuously and the landowner plans to pay off the loan in 16 months, what is the total amount owed? $12,999.44 $12,827.27 $21,600.00 $26,706.49Answered. Asked by ProfDiscoveryTurtle47. on october 1 a client pays a company the full 12000 balance of a year long contract. using the accural method what the unearned revenue as of decemeber 31. BUSINESS. ACCOUNTING.
Definition of Payment for Insurance. A company’s property insurance, liability insurance, business interruption insurance, etc. often covers a one-year period with the cost …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 …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, 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.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.
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Question On October 1, when 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?Step 1. To determine the number of cars that would need to be sold in order for the total pay to be the same... Maxim has been offered positions by two car companies. The first company pays a salary of $12000 plus a commission of $900 for each car sold. The second pays a salary of $18400 plus a commission of $500 for each car sold.Sep 6, 2023 · A landlord plans to take out a $12,000 loan to cover the cost of a new roof for a rental home. if the loan has a 5% annual interest rate compounded continuously and the landowner plans to pay off the loan in 16 months, what is the total amount owed? $12,999.44 $12,827.27 $21,600.00 $26,706.49 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. Question: 1, Accounting transaction posting Example: October 1: Stockholders invest $100,000 cash in an advertising venture to be known as Pioneer Advertising Inc. Debit: Cash 100,000 Credit: Common Stock 100,000 1, October 2: Pioneer Advertising receives a $12,000 cash advance from R. Knox, a client, for advertising services that are expected to be completed by
View the full answer. ... Common Stock 100,000 1, October 2: Pioneer Advertising receives a $12,000 cash advance from R. Knox, a client, for advertising services that are expected to be completed by December 31. 2, October 4: Pioneer Advertising pays $6,000 for a one-year insurance policy that will expire next year on September 30. 3, October ...On December 1, the company paid $12,000 for 12 months of insurance coverage beginning on that date. The payment was recorded with a debit in that amount to the Insurance Expense account. Complete the necessary adjusting entry by selecting the account names and dollar amounts from the drop-down menus. Date Account Title Debit …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?a.Pay employee salaries of $3,200 for the current month. b.Pay office rent for the current month, $4,400. c.Purchase office supplies on account for $2,500. d.Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. e.None of the above. e. none of the above.Question. A company performs $10,000 of services and issues an invoice to the customer. Using the accrual method. what's the correct entry to record the transactions? (A) Debit unearned revenue$10,000, credit sales revenue $10,000. (B) Debit accounts payable$10,000, credit sales revenue $10,000. (C) Debit services expense$10,000, credit sales ...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 ...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.Question. Solved step-by-step. 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 …Despite the large number of Twitter clients available for Linux, none of them are perfect. Our favorite would have to be the powerful, customizable Choqok. Despite the large number...
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?
Since the company has received full balance for the services not yet provided. 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 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 .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 …The yearly payment is $2,400 ($12,000/5). After two payments, a total of $4,800 has been paid, leading to a balance of $7,200 ($12,000 - $4,800). However, this balance does not take into account the interest rate of 4%. The balance after two years, taking into account the compound interest, would be higher.12 Dec 2018 ... In this example, we will recognize $1,000 a month over a twelve month period. At the end of twelve months, we have recognized the full $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 ...Question. Solved step-by-step. 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 …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 …Try focusing on one step at a time. You got this! To approach this problem, distribute the 10,800 for 12 months. Journal entry worksheet 1 4 5 6 On April 2, the company prepaid $10,800 cash for twelve months' rent for office space. Prepare the required adjusting entry, if any. Note: Enter debits before credits.
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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 December31? On July 1, a company receives an invoice for $800 with the terms 1/10, net 30.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 December 1, 201 a company borrowed P100,000 by signing a six-month note that specifies interest at an annual percentage rate of 12%. The note matures on May 31, 2022. The company prepares financial statements at the end of each calendar month. What is the adjusting entry on December 31, 201?The yearly payment is $2,400 ($12,000/5). After two payments, a total of $4,800 has been paid, leading to a balance of $7,200 ($12,000 - $4,800). However, this balance does not take into account the interest rate of 4%. The balance after two years, taking into account the compound interest, would be higher.Asked by Aminejennane. 1) The company paid, on October 1, X5, $ 12,000 for one-year insurance coverage on its plant. The entire amount in question has been recorded by the accountant in the Insurance charges account. From this information, indicate the adjustment that will be necessary in order to present the financial statements for the period ...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 Baldwin Company currently has the following balances on their balance sheet: Total Assets $255,213 Total Liabilities $151,328 Retained Earnings $47,588 Suppose next year the Baldwin Company generates $44,200 in net profit, pays $12,000 in dividends, total assets increase by $55,000, and total liabilities remain unchanged.WebFeb 17, 2023 · 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? DA: 59 PA: 11 MOZ Rank: 66. On October 1, a client pays a company the full $12,000 balance … classtheta.com 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 ….
In today’s competitive business landscape, having a powerful professional company profile is essential for success. Your company profile is the first impression potential customers...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.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.Almost all customers of collapsed cryptocurrency exchange FTX will get their money back — and more, according to a court filing. FTX estimates that it owes creditors … Published in category Business, 23.07.2022 >> On october 1 a client pays a company the full 12000 balance of a year long contract. Using the accrual method what is the unearned revenue as of December 31 On December 31, Year 1, a company signed a one-year contract to provide services to a particular customer for $12,000. The customer will pay for the services during January Year 2. Using accrual accounting, when should the company recognize revenue relating to the contract? on December 31, Year 1, when the contract is signed.a.Pay employee salaries of $3,200 for the current month. b.Pay office rent for the current month, $4,400. c.Purchase office supplies on account for $2,500. d.Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. e.None of the above. e. none of the above.The client pays $285 if her cell phone worth $1,080 was accidentally dropped into a glass of water. The given data is as follows: ... 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. A client pays a company the full 12000, When starting a real estate company, one of the most crucial decisions you will make is choosing the perfect name. The right name can help establish your brand identity, attract cl..., 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 July 1, a company receives an invoice for $800 with the terms 1/10, net 30., Invoices are an essential part of any business. They provide a record of the services or products that have been provided and the amount due for payment. As businesses become incre..., 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., Definition of Payment for Insurance. A company’s property insurance, liability insurance, business interruption insurance, etc. often covers a one-year period with the cost …, She hires one helper at $12,000 per year, pays annual rent of $5,000 for her shop, and spends $20,000 per year on materials. She has $40,000 of her own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn her $4,000 per year if alternatively invested. ... On October 1, a client pays a company the full $12,000 ..., Western Company has total available cash of $42,000 (Beg $12,000 & Cash receipts $30,000) but they have to pay obligation in the amount of $34,500. As a result, it will cause their balance below the maintaining amount., simon100912. Final answer: In accrual accounting, when a client pre-pays for a yearly contract, this is initially considered unearned revenue. As the company delivers …, 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 Impact, 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., In this case, Barry Company received $12,000 in advance, but only 65 percent of the services have been completed. ... 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. heart. 7., 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 December 1 the company pays the insurance company $12,000 for the insurance premiums covering one year. The company will record the payment with a debit of $12,000 to Prepaid Insurance and a credit of $12,000 to Cash. On December 31, the company writes an adjusting entry to record the insurance expense that was used up (expired) and to ... , The company returns $300 of its inventory to the original supplier, and gets a full refund from the supplier in cash. The company returns $200 of its inventory to the original supplier, and gets a refund from the supplier in credit (accounts payable). A major customer (client) pays $400 in cash from the amounts that it owes to the company., 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 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. , Xanadu returned merchandise with an invoice amount of $2,800 and received full credit. a. If Xanadu Company pays the invoice within the discount period, what is the amount of cash required for the payment? If required, round the answer to the nearest dollar. $ ... On October 1, a client pays a company the full $12,000 balance of a year-long ..., Pacific Company leased a warehouse on June 1, 2020, for one year only. The company was required to pay the full amount of rent one year in advance on June 1, for $1,920 cash, which was debited to Lease Expense. ... 2020, the company signed a $12,000, 10% note payable. On that date, Cash was debited and Note Payable credited for $12,000. The ..., Find an answer to your question A company buys a machine for $12,000, ... A company buys a machine for $12,000, which it agrees to pay for in five equal annual payments, beginning one year after the date of purchase, at an interest rate of 4% per annum. ... On October 1, a client pays a company the full $12,000 balance of a year …, In this scenario, where a client has agreed to pay a contractor $45,000 and has already made a $15,000 down payment, the remaining balance of $30,000 should be posted as accounts receivable. ... 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 …, 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?, 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 …, Pay Debt of $12,000. How long will it take to pay a $12,000 loan? This calculator shows how long it will take to pay off 12k in debt. It can be used for any loan, credit card debt, student debt, personal, business, car, house, etc... Many times, combining multiple high-interest loans into one low interest loan can be a good option., 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., 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?, Question: 1, Accounting transaction posting Example: October 1: Stockholders invest $100,000 cash in an advertising venture to be known as Pioneer Advertising Inc. Debit: Cash 100,000 Credit: Common Stock 100,000 1, October 2: Pioneer Advertising receives a $12,000 cash advance from R. Knox, a client, for advertising services that are expected to be completed by , Oct 11, 2023 · 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. , Payment is due within 10 days. Apr. 19 The compa Apr. 6 The company completed services for a client and immediately received $4,000 cash. Apr. 9 The company completed a $6,000 project for a client, who must pay within 30 days. Apr. 13 The company paid $11,600 cash to settle the account payable created on April 3. company …, 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?, 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. ..., Jan 23, 2023 · On October 1, a client pays a company the full $12,000 for a year-long contract. Using the accrual method, we spread this revenue over the 12 months it covers. By December 31, three months have passed, equating to a quarter of the contract term. As such, the company has earned one quarter of the payment, which is $3,000 ($12,000 / 4). , simon100912. Final answer: In accrual accounting, when a client pre-pays for a yearly contract, this is initially considered unearned revenue. As the company delivers …