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. 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?11th Edition • ISBN: 9781337623124 Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. 1,012 solutions. 1 / 4. Find step-by-step Accounting solutions and your answer to the following textbook 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 ...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?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.

Business. Accounting questions and answers. You own an insurance company. On December 1, 2015, the a client pays $12,000 to cover a building for the …

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...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...Study with Quizlet and memorize flashcards containing terms like Gates Accounting Services (GAS), a sole proprietorship, entered into a new 18-month office space contract on September 15, Year 1, paying the full $36,000 rent contract to the real estate company on that day (lease expiration March 15, Year 3). Assuming that GAS reports on a calendar …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 ...The business's assets (cash or bank account) are first reduced by $12,000 when it pays $12,000 ($1,000 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 the unearned revenue as of December 31.

Schnucks chesterfield

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:

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. 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 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 ...Explanation: In the accrual accounting method, when a client pre-pays a year-long contract, that payment is initially considered an unearned revenue for the company. This revenue will only be recognized gradually as the company provides the contracted services over the period of one year.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, …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:

P = $12,000. Therefore, additional payment per year = $12,000. Monthly payment thus equals : $12,000 / 12 = $1000. Explore all similar answers. ... 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 small business borrows $12,000 at nominal interest 12% compounded quarterly, to help cover start-up costs. Payout $750 done at the end of every 6 months during the time required to pay return the loan. Three months before the 9th payment is due, the company refinancing a loan with a nominal interest rate of 9%, compounded monthly.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 ...A client liaison acts as an intermediary between the company or agency and the client to meet the client’s need for information, support, assistance, reports and training. The liai...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. ...Find a Angular developer today! Read client reviews & compare industry experience of leading Angular development companies. Development Most Popular Emerging Tech Development Langu...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 ...

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.Jan 24, 2020 · exercise 2-6 (algo) analyzing effects of a compound entry lo a1 groro company bills a client $50,000 for services provided and agrees to accept the following three items in full payment: (1) $25,000 cash, (2) equipment worth $55,000, and (3) to assume responsibility for a $30,000 note payable related to the equipment.

Question: Hugh Morris Company pays weekly wages of $12,000 every Friday for a five day week ending on that day. If the last day of the year is on Tuesday, the adjusting entry to record the accrued wages is: Multiple Choice debit Wages Expense $7,200; credit Wages Payable $7,200 debit Wages Expense $4,800; credit Drawing $4,800 debit Wages …Ex 8 On July 1 2014 Damlen Jurado Company pays 12000 to its insurance company from XCCC 24234 at Swedish College of Engineering and Technology, Rahim Yar Khan ... Accident Insurance Associates received $9,000 from a client for a 3-year ... On September 1, a check for $9,600 was received from a tenant for six months' rent. The full amount …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.Your calendar year company, which is on the accrual basis, receives a 10% commission on sales. When JenCo signs up, it pays you $5,000 in advance, which you credit to Unearned Revenue. If, at the year-end, your firm has achieved $20,000, what adjusting entry do you record? Revenue $2,000 Unearned Revenue $2,000 Cash $2,000 Revenue $2,000On 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?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 ...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. $12,000On 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?Jan 24, 2020 · exercise 2-6 (algo) analyzing effects of a compound entry lo a1 groro company bills a client $50,000 for services provided and agrees to accept the following three items in full payment: (1) $25,000 cash, (2) equipment worth $55,000, and (3) to assume responsibility for a $30,000 note payable related to the equipment. 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.

Scooby doo first episode

Phil is a calendar year taxpayer and a landlord. He also runs a lawn care business. In December 2022 , a tenant pays him $6, 000 rent for January 2023. In January 2023 , another tenant pays him $12, 000 rent for November and December 2022. In December 2022, a client pays him $9, 000 for three law care sessions, one in January 2023, one …

11th Edition • ISBN: 9781337623124 Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. 1,012 solutions. 1 / 4. Find step-by-step Accounting solutions and your answer to the following textbook 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 ...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 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 ... 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. Find a prototype company today! Read client reviews & compare industry experience of leading prototype companies. Development Most Popular Emerging Tech Development Languages QA & ...11 Apr 2019 ... If Sierra Sports pays the full amount owed ... full $12,000 of inventory when the purchase was made. ... You are the owner of a catering company and ...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 …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...Find a Angular developer today! Read client reviews & compare industry experience of leading Angular development companies. Development Most Popular Emerging Tech Development Langu...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?Find a Angular developer today! Read client reviews & compare industry experience of leading Angular development companies. Development Most Popular Emerging Tech Development Langu...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.

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. profile. Jamessmith76. Final answer: As of December 31, the unearned revenue is $9,000. This is calculated by determining the monthly service rate from the …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.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.Instagram:https://instagram. weather forecast for stroudsburg pennsylvania 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. 84 lumber windows 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.On January 1, a company pays one year of rent in advance, which is a prepayment of expense and is initially recorded as an asset. On January 31, the end-of-month adjustment for using one month of the prepaid rent would result in an: A) Increase in expenses. ... On October 1, a client pays a company the full $12,000 balance of a year-long ... jons weekly specials Phil is a calendar year taxpayer and a landlord. He also runs a lawn care business. In December 2022 , a tenant pays him $6, 000 rent for January 2023. In January 2023 , another tenant pays him $12, 000 rent for November and December 2022. In December 2022, a client pays him $9, 000 for three law care sessions, one in January 2023, 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 December3... most hilarious racist jokes 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. 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 … adair funeral and cremation services obituaries 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 ... dayquil with weed 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) mi casa mexican restaurant corbin ky 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.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 ...A company pays $18,000 in interest on notes, consisting of $12,000 interest that was accrued during the last accounting period and $6,000 of interest that accumulated during the current accounting period but has not yet been accrued on the books. The journal entry for the interest payment should: jordyn woodruff Cathy deposit $12,000 into the bank account that pays 6% interest compounded quarterly then The account balance be in the seven year is 18,207. ... 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: Hugh Morris Company pays weekly wages of $12,000 every Friday for a five day week ending on that day. If the last day of the year is on Tuesday, the adjusting entry to record the accrued wages is: Multiple Choice debit Wages Expense $7,200; credit Wages Payable $7,200 debit Wages Expense $4,800; credit Drawing $4,800 debit Wages … uncle ben tek 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 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? 5200 york road A discount interest loan is a loan arrangement where the interest and any other related charges are calculated at the time the loan is closed. Suppose a one-year loan is stated as $12,000 and the interest rate is 12%. The borrower then pays $1,440 interest up front, thereby receiving net funds of $10,560 and repaying $12,000 in a year. culvers in tucson 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 $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 .Nov 28, 2023 · In the second year, they make two more interest payments of $150 each plus the $12,000 principal repayment, totaling $12,300. Explanation: The question involves calculating the cash payments for interest and principal on a note payable that was issued by Lorenzo Company. The note is a 1-year, 5 percent note for $12,000, with interest paid ...