A client pays a company the full 12000

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 …

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.comAccounting. 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 Indent manually.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 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 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 ...Mar 22, 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.

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 ...Feb 8, 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? Submitted by Debra W. Feb. 08, 2023 02:19 p.m. A company pays $11,000 to purchase a one-year insurance policy Record the transaction (If no entry is required for a transaction/event, select "No journal the first account field.) View transaction list Journal entry worksheet A company pays $11,000 to purchase a one-year insurance policy Note: Enter debits before credits ansaction General ...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 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? Solution

1 Calculate the amount of revenue earned from October 1 to December 31. Since the contract is year-long, the revenue earned as of December 31 is (3/12) * 12,000 = 3,000. 2 Subtract the revenue earned from the total payment to find the unearned revenue. 12,000 - 3,000 = $9,000. Need improvement.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.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. 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)

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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? Here’s the best way to solve it. Expert-verified. 98% (41 ratings))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 ...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. ...The financial institution should record the cash deposit of $12,000 on the business day following the bank holiday to ensure accurate and up-to-date accounting. ... 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?

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 $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 .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.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. ... a client pays a company the full ...Trump has watched Cohen testify against him before. During last year’s civil fraud trial against Trump and his company, Cohen was a key witness for the New York …A company pays $35,000 per period to rent a small building that has 12,000 square feet of space. This cost is allocated to the company's three departments on the basis of the amount of the space occupied by each. ... 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 ...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

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.

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.If a business has done work for a client ... The company calculates that the current year depreciation is $12,000. ... The company pays its employees every two ...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 ...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 customer paid for legal services. 1. The company purchased a 12-month insurance policy on January 1st of 2021 for $12,000. Prepare the adjusting journal entry for January. 2. The company has 4 employees, in January, who earn $1,500 each month. Prepare the adjusting journal entry for January since these employees will receive checks on ...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 …If a business has done work for a client ... The company calculates that the current year depreciation is $12,000. ... The company pays its employees every two ...May 31, 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.

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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).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.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 …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: As the question says, a total of $35,000 is paid for 12,000 square feet of space and that the rent is apportioned on the basis of space. Department One occupies 2,400 square feet of that space. Calculating the proportion it occupies is, = 2,400/12,000 = 20% . Since it occupied 20% of the total space then it should be charged 20% of the rent bill. 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.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 ...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?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. ... 2. on-october-1-a-client-pays-a-company-the-full-12-000-balance-of-a-year-long-contract-using-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...Verizon is a well-known telecommunications company that provides a wide range of services, including residential phone, internet, and television. If you are a Verizon customer, it ...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.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.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.Cash is decreasing because it was used to pay for the outstanding liability created on January 5. Cash is an asset and will decrease on the credit side. Accounts Payable recognized the liability the company had to the supplier to pay for the equipment. Since the company is now paying off the debt it owes, this will decrease Accounts Payable.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 … A client pays a company the full 12000, [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1], [text-1-1]