Unearned consulting revenue
WebNet Sales: $504,459 Cost of Sales: $283,494 Advertising Expense: $46,636 Other Expenses, net: $157,811 Prepare the closing entries for revenues, and expenses -Revenues: Debit to … WebOf the $11,400 balance in Unearned Consulting Revenue, $8,700 had been earned. c. The Prepaid Rent account showed a balance of $13,500. This was paid on January 1 of this …
Unearned consulting revenue
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Webadjective. not received in exchange for labor or services; not gained by lawful work or employment. not earned; unmerited; undeserved: unearned promotion. not yet earned: … WebMultiple Choice Debit Credit Unearned Revenue $ 93,000 Consulting Revenue $ 93,000 Debit Credit Consulting Receivable $ 93,000 Consulting Revenue $ 93,000 Debit Credit Consulting Expense $ 93,000 Prepaid Rent $ 93,000 Debit Credit Consulting Revenue $ 93,000 Consulting Payable $ 93,000
WebMay 6, 2024 · Unearned revenue is money received from a customer for work that has not yet been performed. It is essentially a prepayment for goods or services that will be … WebMar 28, 2024 · In accounting, unearned revenue is prepaid revenue. This is money paid to a business in advance, before it actually provides goods or services to a client. Unearned …
WebMay 31, 2024 · Of the $11,400 balance in Unearned Consulting Revenue, $8,700 had been earned. c. The Prepaid Rent account showed a balance of $13,500. This was paid on January 1 of this accounting period and represents six months of rent commencing on the same date. d. Accrued wages at January 31 totalled $18,500. e. WebFeb 9, 2024 · Unearned Consulting Revenue: $700 Rent Expense: $1,000 Prepaid Rent: $1,000 Depreciation Expense - Equipment: $90 Accumulated Depreciation - Equipment: $90 (b) Adjusted trial balance for JJJ Consulting as of January 31: Account Debit Credit Cash $6,300 Accounts Receivable $750 Supplies $200 Prepaid Rent $3,000 Equipment $7,000
WebUnearned Revenue is where the money is received, but the goods and services are yet to be delivered. As per the revenue recognition concept, it cannot be treated as revenue until …
WebUnearned revenue is the number of advance payments which the company has received for the goods or services which are still pending for the delivery and includes transactions … エヴァホール中央 岡山県WebAug 22, 2024 · Consulting revenue 15,360 Rent expense 4,820 Salaries expense 8,370 Telephone expense 910 Miscellaneous expenses 720 Exercise 1-15 Preparing an income statement LO P2 Using the above... pallina unicefWebOct 31, 2024 · Accrued consulting revenue at year-end totalled $3,500. Interest of $78 had accrued on the note receivable for the month of October. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2024. A count of the supplies on October 31 revealed a balance remaining of $550. … エヴァホールWebAccrued consulting revenue at year-end totalled $4,800. Interest of $91 had accrued on the note receivable for the month of October. The balance in the Prepaid Insurance account represents the remaining balance of a two-year policy purchased on April 1, 2024. A count of the supplies on October 31 revealed a balance remaining of $680. pallinatriciWebDec 23, 2016 · Unearned revenue is money that is received by a business before goods or services are provided. Another way to look at it is prepaid revenue. As an example, let's … pallina vicino all\u0027orecchioWebIt was determined that $12,000 of the unearned consulting revenue had not yet been earned. b. It was discovered that $14,000 of the balance in the Consulting Revenue account was … pallinatrice sabbiatriceWebUnearned revenue, also known as unearned income, deferred revenue, or deferred income, represents proceeds already collected but not yet earned. Hence, they are also called … エヴァホール一関