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. …The Krug Company collected $12,600 rent in advance on November 1, debiting Cash and crediting Unearned Rent Revenue. The tenant was paying 12 months' rent in advance and occupancy began November 1. b. Unearned Services Revenue. The company charges $130 per month to spray a house for insects. A customer paid $520 on October 1 in.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.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 … 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? Verified solution by a Proprep tutor. Arthur pays a tax of $5000 on a taxable income of $50000while taxpayer Barbara pays Tax of $12000 on $12000.the tax is a? There’s just one step to solve this. Who are the experts? Experts have been vetted by Chegg as specialists in this subject. Expert-verified. Step 1.Click here 👆 to get an answer to your question ️ Selkirk Company obtained a $12,000 note receivable from a customer on January 1, 2021. ... 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.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 31.1.^ 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.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.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 …The client paid $12,000 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.Accounting questions and answers. On July 1, 2022, Wildhorse Co. pays $12,000 to Monty Corp.for a 2-year insurance contract. Both companies have fiscal years ending December 31. For Wildhorse Co., enter the July 1 transaction and the December 31 adjustment in the tabular summary that follows. (If a transaction results in a decrease in …Step 1: Determine the period covered by the contract The contract is for a year, which means it covers the period from October 1 to September 30 of the following year. Step 2/3 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 …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 …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.Business Accounting On July 1. 2022, Damlen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy Prepare the necessary journal entries for Damlen Jurado on July 1 and December 31. (Credit account titles are automatically iIndented when the amount is entered. Do not Indent manually.Click here 👆 to get an answer to your question ️ On April 1 of Year 1, Respawn accepted 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 …Facebook may have partnered with AIM to bring chat to your desktop, but if you're not a fan of the official AIM client, there's now an easy way to get Facebook Chat in the IM clien...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...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 …Find a Dental Companies PPC agency today! Read client reviews & compare industry experience of leading Dentists PPC management companies. Development Most Popular Emerging Tech Dev...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.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.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 …The non-profit sold its existing fleet of vehicles, with a book value of $12,000, for $15,000. It paid for the new vehicles in cash on October 1, 2019, at a ...The company calculates that the current year depreciation is $12,000. As with all adjusting entries, we need to determine if we are being given an account balance (asset or liability) or the amount of the expense. In this case, as with all depreciation entries, we are given the amount of the expense. Therefore, there is nothing to calculate here.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... 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. $12,000 Pal paid into bank was dishonoured and shown as such on the Bank Statement, although no entry relating to the dishonoured cheque was made in the Cash Book. (v) ...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 …May 26, 2023 · This means that as of October 1, the company had unearned revenue of $12,000 because it had not yet earned any of the revenue from the contract. As time passes and the company provides goods or services to the client, the unearned revenue will decrease and the earned revenue will increase. By December 31, three months have passed since the ... Question 11/12 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.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 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 ... 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. Are you a freelance writer looking to attract more clients and build a successful career? Look no further than WriterBay. With its vast pool of clients and user-friendly interface,...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.Question 11/12 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.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.The finance department plays a huge role in business because that’s where the money is. The finance department knows how much money is needed to pay vendors, secure clients, cover ...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 widget company purchases a new piece of equipment for $222,000 and then pays $12,000 for shipping and inst 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.Facebook may have partnered with AIM to bring chat to your desktop, but if you're not a fan of the official AIM client, there's now an easy way to get Facebook Chat in the IM clien...The non-profit sold its existing fleet of vehicles, with a book value of $12,000, for $15,000. It paid for the new vehicles in cash on October 1, 2019, at a ...1. Craig borrowed $700,000 on October 1, 2017 and is required to pay $720,000 on March 1, 2018. What amount is the note payable recorded at on October 1, 2017 and how much interest is recognized from October 1 to December 31, 2017? A) $700,000 and S0. B) $700,000 and $12,000. C) $720,000 and SO.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.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 …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-longLearn 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...Are you a freelance writer looking to attract more clients and build a successful career? Look no further than WriterBay. With its vast pool of clients and user-friendly interface,...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. Sample Company pays $12,000 on October 1 for a one year insurance policy. The company follows the alternative for deferrals by debiting insurance expense on October 1. What is the proper adjusting entry on December 31? debit insurance expense and credit prepaid insurance for $3,000 debit insurance expense and ... 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 ...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.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 …Concept 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 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. … 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. October 1: Stockholders invest $100,000 cash in an advertising venture to be known as Pioneer Advertising Inc. October 1: Pioneer purchases office equipment costing $50,000 by signing a 3-month, 12%, $50,000 note payable. October 2: Pioneer receives a $12,000 cash advance from R. Knox, a client, for advertising services that are expected to be …. Click here 👆 to get an answer to your question ️ bond a pays $12,0Barney decides to quit his job as a corpor 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 ...Accounting. 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 … Click here 👆 to get an answer to your question ️ On Ap 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. 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