Prepare journal entries for each of the following transactions for a company that has a fiscal year-end of December 31: (1) on October 1, $12,000 was paid for a one-year fire insurance policy; (2) on June 30 the company advanced its chief financial officer$10,000; principal and interest at 6% on the note are due in one year; and (3) equipment costing $60,000 was …Study with Quizlet and memorize flashcards containing terms like In 2017, Costello Company performs work for a customer and bills the customer $10,000; it also pays expenses of $3,000. The customer pays Costello in 2018. If Costello uses the accrual-basis of accounting, then Costello will report, Ignatenko Company purchased office supplies … Solstice Company determines on October 1 that it cannot collect $50,000 of its accounts receivable from its customer, P. Moore. It uses the direct write-off method to record this loss as of October 1. On October 30, P. Moore unexpectedly pays his account in full to Solstice Company. Record Solstice’s entries for recovery of this bad debt. Answered. 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 ended ...Learning tools, flashcards, and textbook solutions | QuizletLearn how to deal with conflicts with clients to create more trusting relationships. Trusted by business builders worldwide, the HubSpot Blogs are your number-one source for educat...Click here 👆 to get an answer to your question ️ On September 1 , 2019 , Two Sisters Company pays $ 36,000 cash ... The balance in prepaid rent on December 31 , 2019 , after adjustment , would be : A. $ 24,000 B. $ 0 C. \$12,000 . $ 6,000. loading. See answer. loading. plus. Add ... On October 1, a client pays a company the full ...Verified answer. Load more. New questions in Business. Click here 👆 to get an answer to your question ️ On October 1, when a client pays a company the full $12,000 balance …If Maeryn pays $1,200 tax on $12,000 worth of income, what is the tax rate? a) 0% b) 5% c) 10% d) 50% e) 100%. loading. plus. Add answer +10 pts. loading. Ask AI. loading. report flag outlined. ... 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 ...1.^ Chegg survey fielded between Sept. 24 – Oct. 12, 2023 among U.S. customers who used Chegg Study or Chegg Study Pack in Q2 2023 and Q3 2023. Respondent base (n=611) among approximately 837,000 invites. Individual results may vary. Survey respondents were entered into a drawing to win 1 of 10 $300 e-gift cards.Click here 👆 to get an answer to your question ️ Michelle pays $12,000 down on an electric car which Cars'R'Us had agreed to sell to her for $64,000. ... 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 31.1, 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 …On July 1, 2015, Damlen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy. Instructions Prepare the necessary journal entries for Damlen Jurado on July 1 and December 31. Ex. 227. On July 1, 2015, Jeffrey Underwriters Associates received $8,000 from a client for a 2-year insurance policy. InstructionsMar 30, 2007 ... ... client pays the total cost of services for ... + $12,000. $50,000. Add $1,800 to upper limit threshold ... These ranges in effect from October 1-.Find an answer to your question If Houston Company billed a client for $12,000 of consulting work 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 …Apr 30, 2022 · 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 0 thoughts on “On October 1, a client pays a company the full $12,000 balance of a year-long contract. 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 …A recently published report has found late paying clients owe $50,000 or more to nearly 60% of freelance workers. A recently published report has found late paying clients owe $50,...Cadillac Fairview withdrew $115,000 from its operating loan account on September 4 to perform some needed maintenance on one of its properties. The operating loan requires interest at prime + 3% and fixed $25,000 monthly payments starting October 1. The company thinks it can make an additional payment of $35,000 on November 18.Study with Quizlet and memorize flashcards containing terms like Which ratio tells a user about a company's liquidity?, T/F: Issuing stock in exchange for cash increases assets and increases liabilities., Notes Payable is classified as a(n): and more.Q On July 1, 2015, Damlen Jurado Company pays $12,000 to its insurance ... Answered over 90d ago. 100 % Q On July 1, 2015, Jeffrey Underwriters Associates received $8,000 from a client for a 2-year insurance policy. Prepare th. Answered over 90d ago. 100 % Q Transactions for Tom Petty Company for the month of October are presented ... Let’s assume that a company is started on December 1 and arranges for business insurance to begin on December 1. 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. Reducto Co. pays a weekly payroll of $95,000 that includes federal taxes withheld of $12,000 FICA taxes withheld of $7,250, ... 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.Find an answer to your question QS 9-13 Note receivable interest and maturity LO P4 On December 1, Daw Co. accepts a $12,000, ... 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.Notes payable example. For example, on October 1, 2020, the company ABC Ltd. signs a $100,000, 10%, 6-month note that matures on March 31, 2021, to borrow the $100,000 money from the bank to meet its short-term financing needs. The company ABC receives the money on the signing date and as agreed in the note, it is required to back both ...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.Mar 25, 2013 ... I have a client that did notify ... I receive a water bill in October and when I phoned to pay ... I help in a small shop with 1 toilet and 1 sink .Barney decides to quit his job as a corporate accountant, which pays $12,000 a month, and goes into business for himself as a certified public accountant. ... 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 settlement is a warning to service firms that failing to sniff out potential wrongdoing by clients could mean big legal bills. After three years in court, accounting giant Delo...Step 2: Determine the portion of the contract that has been earned Since the payment was made on October 1, the company has earned 3 months' worth of revenue …Jul 25, 2022 · Therefore, the unearned revenue as of October 1 was $12,000.In the months between October 1 and December 31, the company would have "earned" $3,000 of that revenue by providing services to the client. That means the unearned revenue would be reduced by $3,000 to $9,000 by December 31. Reducto Co. pays a weekly payroll of $95,000 that includes federal taxes withheld of $12,000 FICA taxes withheld of $7,250, ... 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.As part of this agreement, Universe agrees to pay $4,000 to the customer to compensate the customer for up-front processing costs. A ... $12,000 A: $45,000 B: $8,000 A: $45,000 B: $12,000 None of the above. What is the transaction price for the following scenario: Scenario A: Tula Inc. sells $20,000 of ... The Zonyo Company on October 1, ...The bond pays 2.5% interest. B.The bond traded at ... Oct. 12. Purchased 10,000 shares of treasury stock ... 1 Jan 1 Cash. 2 b. 2:3. 4. Ch. 5. DESCRIPTION. Premium ...Cash 480, Rent Income 480, To record the receipt of one- year rent paid in advance Rent Income 160, Unearned Rent 160, Unearned portion of the 1- year rent paid in advance. On August 1, 2021, Entity C paid one-year insurance of 360,000. Provide the journal entry to record the prepayment on August 1, 2021 under each of the following methods: a.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. Need tips for meeting new clients? Visit HowStuffWorks to find 5 tips for meeting new clients. Advertisement The first meeting with a new client is a lot like a first date. It's a ...Question 1 On July 1, 2017, Major Co. pays $12,000 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue.Verified answer. Load more. New questions in Business. Click here 👆 to get an answer to your question ️ On October 1, when a client pays a company the full $12,000 balance … Study with Quizlet and memorize flashcards containing terms like On October 1. CR Yazici invest $100,000 cash in an advertising company to be known as Pioneer Advertising, On October 1, Pioneer Advertising purchases office equipment costing $50,000 by signing a 3 month, 12 %, $50,000 note payable, On October 2, Pioneer Advertising receives a $12,000 cash advance from R.Knox a client, for ... a. Debit cash$10,000, credit capital stock $10,000. b. Debit capital stock$100,000, credit cash $100,000. d. Debit cash$100,000, credit treasury stock $100,000. e. Debit cash$10, …You get an invoice on July 1- for $800 net 1/10 30 days you pay your bill on July 15 how much is it? accounting. On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, ... On October 1, a client pays a company the full $12,000 balance of a year long contract.Solved step-by-step. Solved by verified expert. Created on Sept. 15, 2022, 3:39 p.m. Company Inc. enters into a 10-year finance lease at the beginning of 2021 for a total of $250,000. The annual lease payment is $25,000 (payable at the end of each year) and the rate implicit in the lease is 5%. No initial direct costs are incurred.Answer. Under accrual method, the entire $12,000 would have classified as an unearned revenue since on October 1st of that year; a client pays this amount in full. …Many licensed drivers are no longer behind the wheel because they can find better working conditions and pay elsewhere. Hi Quartz members! The US is facing a shortage of 80,000 tru...Study with Quizlet and memorize flashcards containing terms like On February 1, Secret Gardens Inc. sells 3,000 shares of its $1 par value common stock for $13 per share. The journal entry on February 1 will include a:, On December 1, Chocolate Inc. sells 2,000 shares of its $1 par value common stock for $16 per share. The journal entry on December 1 will … 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 ... The client paid $14,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $7,200 of the tuition revenue has been earned by WTI.Answer. Under accrual method, the entire $12,000 would have classified as an unearned revenue since on October 1st of that year; a client pays this amount in full. …A company's board of directors votes to declare a cash dividend of $1. 00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash ... 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, 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. Problem 5RE: Garcia Company rents out a portion of its building to Jerry Company for 1,000 per month. 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 old machine had cost $12,000. The financial year ends on October 31 What would be the accumulated depreciation on the new machine at the beginning of the fourth 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.A customer paid $300 on October 1 in advance for four treatments, which was recorded with a debit to Cash and a credit to Unearned Services Revenue. At year-end, the company has applied three treatments for the customer. c. Unearned Rent Revenue. On September 1, a client paid the ... a company received an advance rental payment of $12,000, ...Sep 30, 2022 · Question: On October 1, 2022, Grey Matter Inc. (a calendar year end corporation) pays $24,000 in advance for rent on a warehouse that covers the period October 1, 2022 through September 30, 2023. When this transaction is recorded on October 1, 2022, Grey Matter Inc. will: decrease Cash $24,000 and increase Rent Expense $24,000 decrease Cash ... A company has a fiscal year-end of December 31: (1) on October 1, $12,000 was paid for a one-year fire insurance policy; (2) ... An inexperienced assistant accountant has prepared the following income statement for the month of October 201; On July 1, 2014, Seng Co. pays $15,900 to Nance Insurance Co. for a 2-year insurance contract.Intermediate Accounting Quiz 6. 3.8 (11 reviews) On December 31, Year 1 Adam Company incurred $3,000 of accrued salary expense. The Year 2 recognition of the cash payment for these expenses. A. decreases the amount of liabilities shown on the Year 2 balance sheet. B. increases the amount of salary expense recognized in Year 2.Answer & Explanation. The accrual method is an accounting technique where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is …Sep 29, 2022 · A company reported gross profit of $20 million in 2018. In addition, it recorded the following activities: Sales and marketing expenses were $5 million. Interest income was $2 million. Sold equipment for $5 million that had a net book value of $9 million. $3 million in preferred stock issuance. 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-longFind an answer to your question On January 1, a company pays one year of rent in advance for $12,000 ... 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.Bond B pays $12,000 in 28 years. (To keep things Get the answers you need, now! ... 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.Jan 27, 2022 · Since the company has received the full balance over the services not yet provided. As of December 31, the unearned revenue will be $12,000. Because the client paid the company for a year-long contract, the $12,000 represents a prepayment for the service the company has yet to render to their client. Apr 30, 2022 · 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 0 thoughts on “On October 1, a client pays a company the full $12,000 balance of a year-long contract. July 1, 2022 Crane company pays $9920 to Wildhorse company for a 2-year insurance contract. ... To record this transaction on July 1, Wildhorse debits Cash ... On October 1, a client pays a company the full $12,000 balance of a year-long contract.On October 5, 2015, ... A municipal bond you are considering as an investment currently pays a yield of 6.91 percent. a. ... A client in the 30 percent marginal tax bracket is comparing a municipal bond that offers a 4.8 percent yield to maturity and a similar risk corporate bond that offers a 6.75 percent yield.Answer & Explanation. The accrual method is an accounting technique where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is … 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. Nothing terrifies me more than returning to the workplace. A workplace where, likely but hopefully not, work and clients will have to come first, and family, well, if you have... E...Advertisement In general, all of the machines on the Internet can be categorized as two types: servers and clients. Those machines that provide services (like Web servers or FTP se...A company's board of directors votes to declare a cash dividend of $1. 00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash ... 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 ...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 reduce the amount that remains prepaid. This is accomplished with a debit of $1,000 to Insurance Expense and a ...PV = $12,000 * (1 - (1 + 0.13)^(-5)) / 0.13 Solving this equation, we find that the present value of the annuity is approximately $38,867.07. ... 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.Advanced $12,000 for principal and note due in a year on June 30 leaving only 6 months in the year. Accounting for that will be, = 12,000 * 6% * 6/12 ... 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 July 1, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. ... (july to december) x 1/3 ( one year from the 3 year insurance ) = $2,500. Explore all similar answers. arrow right. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract.When Cullumber Company pays $12,000 for a 3-year insurance contract on July 1, 2019, ... 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 …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%question% Get the answers you need, now!Study with Quizlet and memorize flashcards containing terms like Which financial product typically pays the highest rate of interest?, ... On October 1, a client pays a company the full $12,000 balance of a year long contract. ... 7th Edition • …Mar 25, 2013 ... I have a client that did notify ... I receive a water bill in October and when I phoned to pay ... I help in a small shop with 1 toilet and 1 sink .Common Stock = $315,100. Paid-In Capital in Excess of Par =$34,400. Retained Earnings = $164,750. Treasury Stock =$20,300. Solution. Answered 5 months ago. Step 1. 1 of 2. The total stockholders' equity is equal to the amount of common stock, plus the paid-in capital in excess of par and retained earnings; if there is treasury stock, we deduct ...On October 1, the client pays the company the balance of $12,000 for the full year's contract. What is the unearned revenue as of December 31 using the accrual method? Find answers to your questions and analyze the negative impact of unemployment on the individual's psychology. 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. Cash 480, Rent Income 480, To record the receipt of one- year rent paid in advance Rent Income 160, Unearned Rent 160, Unearned portion of the 1- year rent paid in advance. On August 1, 2021, Entity C paid one-year insurance of 360,000. Provide the journal entry to record the prepayment on August 1, 2021 under each of the following methods: a.On october 1 a client pays 12000
A company's board of directors votes to declare a cash dividend of $1. 00 per share on its 12,000 common shares outstanding. The journal entry to record the declaration of the cash ... 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? $0 $1,000 …Click here 👆 to get an answer to your question ️ Focus corp. pays $12,000 for 2 years of rent. what is the journal entry to record this 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.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. You are valuing an investment that will pay you $12,000 the first year, $14,000 the second year, $17,000 the third year, $19,000 the fourth 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. 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 ... Rent paid in advance example. For example, on December 29, 2020, the company ABC pays the $30,000 rent in advance for 6 months for the office rent from January 2021 to June 2021. In this case, the company ABC can make the journal entry for the rent paid in advance on December 29, 2020, as below: Then, on January 31, 2021, the company …Nido Co. has a standing agreement with a supplier for purchasing car parts. The terms of the agreement are 3/15, n/30 from the invoice date of September 1. The company makes a purchase on September 1. The company makes a purchase a September 1 for $5000 and pays the amount due on September 13. What amount does Nido Co. pay in cash on …Payment dates for the goods and services tax/harmonized sales tax credit, GST/HST, are available from the Canada Revenue Agency, states the Government of Canada. As of 2015, the ag...Transcribed image text: On April 1, 2024, Garden Company invests $12,000 in Bulbs, Inc. stock. Bulbs pays Garden a $700 dividend on October 1, 2024. Garden sells the Bulbs' stock on October 31, 2024, for $12,600. Assume the investment is categorized as a short-term equity investment and Garden Company does not have significant influence over ...Study with Quizlet and memorize flashcards containing terms like On February 1, Secret Gardens Inc. sells 3,000 shares of its $1 par value common stock for $13 per share. The journal entry on February 1 will include a:, On December 1, Chocolate Inc. sells 2,000 shares of its $1 par value common stock for $16 per share. The journal entry on December 1 will …Find an answer to your question On September 1, a client paid the company $25,200 cash for six months of rent in advance ... (1 vote) comment. Express your feedback with quick comments. Log in to add comment. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Answer to On October 1 to client pays a company $12,000 balance on a... Q Enter the following payments and receipts into the cash payments and cash receipts journal. Total the journal and ensure Let’s assume that a company is started on December 1 and arranges for business insurance to begin on December 1. 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. Jan 27, 2022 · Since the company has received the full balance over the services not yet provided. As of December 31, the unearned revenue will be $12,000. Because the client paid the company for a year-long contract, the $12,000 represents a prepayment for the service the company has yet to render to their client. On July 1, Omar provides catering services to the client from the January 1 contract. The client pays the full amount of SAR 25,000 on the day of the event. When should Omar recognize the revenue for this transaction under the accrual basis? On October 1, Omar provides catering services to a corporate client and invoices them for SAR 12,000. 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. Period of rent prepayment = 3 months. Amount paid = 3,000. Period of accounts = 1 month. Rent prepayment for the period = 3,000 x 1/3 = 1,000. This must now be become an expense in the income statement for April, the pre paid rent accounting is as follows: Prepaid rent journal entry – Rent expense for April. Account.Find an answer to your question if cathy deposits $12,000 into a bank account that pays 6% interest compounded quarterly, ... 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.Click here 👆 to get an answer to your question ️ On September 1 , 2019 , Two Sisters Company pays $ 36,000 cash ... The balance in prepaid rent on December 31 , 2019 , after adjustment , would be : A. $ 24,000 B. $ 0 C. \$12,000 . $ 6,000. loading. See answer. loading. plus. Add ... On October 1, a client pays a company the full ...Cadillac Fairview withdrew $115,000 from its operating loan account on September 4 to perform some needed maintenance on one of its properties. The operating loan requires interest at prime + 3% and fixed $25,000 monthly payments starting October 1. The company thinks it can make an additional payment of $35,000 on November 18.On October 5, 2015, ... A municipal bond you are considering as an investment currently pays a yield of 6.91 percent. a. ... A client in the 30 percent marginal tax bracket is comparing a municipal bond that offers a 4.8 percent yield to maturity and a similar risk corporate bond that offers a 6.75 percent yield.a. Debit cash$10,000, credit capital stock $10,000. b. Debit capital stock$100,000, credit cash $100,000. d. Debit cash$100,000, credit treasury stock $100,000. e. Debit cash$10, …Avery pays its employees on Monday for the previous week's wages. Its employees earn $1,500 for a five-day work week. December 31 falls on Wednesday this year. Date Accounts and Explanation Debit Credit (f) Dec. 31 g. On October 1, Avery agreed to provide a four-month air system check (beginning October 1) for a customer for $2,000.The client paid $14,500 cash in advance for all five training courses on September 1, and WTI credited Unearned Revenue. On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $7,200 of the tuition revenue has been earned by WTI.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? 1 Approved …a. Debit cash$10,000, credit capital stock $10,000. b. Debit capital stock$100,000, credit cash $100,000. d. Debit cash$100,000, credit treasury stock $100,000. e. Debit cash$10, …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...Find step-by-step solutions and your answer to the following textbook question: A company bought a new machine for its warehouse on January 1, paid $10,000 in cash, and financed the rest of the purchase price via a$30,000, 5-year note, incurred a separate $2,000 set-up charge, and monthly depreciation is$500 ($6,000 annual). What is the book value of the …Cadillac Fairview withdrew $115,000 from its operating loan account on September 4 to perform some needed maintenance on one of its properties. The operating loan requires interest at prime + 3% and fixed $25,000 monthly payments starting October 1. The company thinks it can make an additional payment of $35,000 on November 18.Find an answer to your question QS 9-13 Note receivable interest and maturity LO P4 On December 1, Daw Co. accepts a $12,000, ... 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.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 … 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? Verified answer Oct 12, 2021 ... ... 1, 2019. So we're going to write the month ... paid. So worth 250, 000. The Transactions ... Oct 13, 2021. . Problem 2 Answer (Topic No. 3 ...On October 1, Fred Company paid $48,000 for a two-year insurance policy, ($2,000 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 …Answer. No one rated this answer yet — why not be the first? 😎. MichaelAnsara. report flag outlined. Final answer: Under the accrual accounting method, …Click to viewWhether you do your work on the web, run a home FTP server, or you just prefer a quick download from time to time, a solid, full-featured FTP client can be a lifesaver...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 …As part of this agreement, Universe agrees to pay $4,000 to the customer to compensate the customer for up-front processing costs. A ... $12,000 A: $45,000 B: $8,000 A: $45,000 B: $12,000 None of the above. What is the transaction price for the following scenario: Scenario A: Tula Inc. sells $20,000 of ... The Zonyo Company on October 1, ...Nido Co. has a standing agreement with a supplier for purchasing car parts. The terms of the agreement are 3/15, n/30 from the invoice date of September 1. The company makes a purchase on September 1. The company makes a purchase a September 1 for $5000 and pays the amount due on September 13. What amount does Nido Co. pay in cash on …Find an answer to your question On September 1, a client paid the company $25,200 cash for six months of rent in advance ... (1 vote) comment. Express your feedback with quick comments. Log in to add comment. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract.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).Answer to On October 1 to client pays a company $12,000 balance on a... Answer to On October 1 to client pays a company $12,000 balance on a... AI Homework Help. Expert Help. Study Resources. Log in Join. On October 1 to client pays a company $12,000 balance on a... Answered 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 unearned revenue as of December 31 verifiedConcept explainers. Question. On October 1, Hughes Company paid $12,000 for two years of insurance in advance. Hughes Company recorded the transaction by debiting Prepaid …On October 1 A Client Pays A Company 12000. July 4, 2023 Dwayne Morise. Support Our Work. Do you appreciate the value this website provides? If so, please consider donating to help keep it running. Your donation will go a long way in helping us continue to provide the same quality of content and services. Every ...Avery pays its employees on Monday for the previous week's wages. Its employees earn $1,500 for a five-day work week. December 31 falls on Wednesday this year. Date Accounts and Explanation Debit Credit (f) Dec. 31 g. On October 1, Avery agreed to provide a four-month air system check (beginning October 1) for a customer for $2,000.Help them pay you. If a client won’t pay, maybe give them a gentle reminder, a reason to pay you. Detail what you have provided, check there are no issues with the invoice, and make sure they are satisfied with what has been delivered. Check your contract. Make sure your payment terms are clear, simple, and protect you.Accounting questions and answers. Wells Technical Institute (WTI) provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Its unadjusted trial balance as of December 31 follows ...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 …When a client signs on with your business, they have certain expectations about what your performance will be. When a client signs on with your business, they have certain expectat...What is minimum wage? ; Hourly Rate (General Workers). Effective Date · December 29, 2021 · $15.00. October 1, 2018 ; Overtime Rate. Federal. Time and a half after&nb...Learn how to deal with conflicts with clients to create more trusting relationships. Trusted by business builders worldwide, the HubSpot Blogs are your number-one source for educat...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 …Suppose next year the Baldwin Company generates $44,200 in net profit, pays $12,000 in dividends, total assets Get the answers you need, now! ... 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? $0 $1,000 …I give all my time to nothing. Not a "real" job that keeps food on the table and pays the bills, but to cleaning and laundry and more cleaning and... Edit Your Post Publi... Since it is a year-long contract, we can assume that the contract period starts on October 1 of the current year and ends on September 30 of the following year. Given that the client paid the full $12,000 balance on October 1, we can recognize the revenue for the entire contract period on that date. When you build a spec home, you'll have to work with a mortgage lender. If you're a builder building a custom home for a client, that client will get a mortgage loan to pay you whi...The $12,000 of interest is earned over the 24-month period from October 1, 2021, to September 30, 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.Question 1 On July 1, 2017, Major Co. pays $12,000 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue.Sep 29, 2022 · A company reported gross profit of $20 million in 2018. In addition, it recorded the following activities: Sales and marketing expenses were $5 million. Interest income was $2 million. Sold equipment for $5 million that had a net book value of $9 million. $3 million in preferred stock issuance. 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? $0 $1,000 $5,000 $9,000 $12,000 There are 2 steps to solve this one. 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?October 1: Stockholders invest ... October 2: Pioneer Advertising receives a $12,000 cash advance from R. Knox, a client, for 3-months of advertising services that will be completed evenly October through December ($4,000/month). October 3: Pioneer Advertising pays $9,000 office rent, in cash, for October.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?...You'll get a detailed solution from a subject matter expert that helps you learn core concepts. Question: On October 1, a customer pays your company $800 for four months of services (October through January). By the end of the year, December 31, how much deferred revenue will you still have on your books?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-longOn July 1, Crowe Co. pays $15,000 to Zubin Insurance Co. for a 3-year insurance policy. ... (july to december) x 1/3 ( one year from the 3 year insurance ) = $2,500. Explore all similar answers. arrow right. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract.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 December 31? Answer. Under accrual method, the entire $12,000 would have classified as an unearned revenue since on October 1st of that year; a client pays this amount in full.Answer to On October 1 to client pays a company $12,000 balance on a... Answer to On October 1 to client pays a company $12,000 balance on a... AI Homework Help. Expert Help. Study Resources. Log in Join. On October 1 to client pays a company $12,000 balance on a... Answered step-by-step.Mar 30, 2007 ... ... client pays the total cost of services for ... + $12,000. $50,000. Add $1,800 to upper limit threshold ... These ranges in effect from October 1-.A Client Pays A Company The Full 12000. Mei 28, 2023 0 Comments. ... • retrenched = 2,5% = 12000 × 2,5% = 300 employees • pay cut = 50,75% = 12000 × 50,75% = 6090 employees. unaffected = 12000 - (300+6090) = 12000 - 6390 = 5610 employees. 7. Bee-In-The-Bonnet Company purchased office supplies costing $8,000 and debited Supplies for … 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. 28. Solutions available. Ex. 8 On July 1, 2014, Damlen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy. Instructions Prepare the necessary journal entries for Damlen Jurado on July 1 and December 31. Solution July 1 Prepaid Insurance 12,000 Cash 12,000 Dec. 31 Insurance Expense 3,000 Prepaid …On October 1, Fred Company paid $48,000 for a two-year insurance policy, ($2,000 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 …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. …. Trip advisor sheraton vistana resort