Like conway is a lawyer who requires that his clients pay

Reference no: EM13482089

Like Conway is a lawyer who requires that his clients pay him in advance of legal services rendered. Mike routinely credits Legal Service Revenue when his clients pay him in advance. In June Mike collected $12,000 in advance fees and completed 75% of the work related to these fees. What adjusting entry is required by Mike's firm at the end of June?

1) Legal Service Revenue 3,000 Unearned Revenue 3,000

2) Unearned Revenue 3,000 Legal Service Revenue 3,000

3) Unearned Revenue 9,000 Legal Service Revenue 9,000

4) Cash 12,000 Legal Service Revenue 12,000

Reference no: EM13482089

Questions Cloud

You invest 1000 in a certificate of deposit that matures : you invest 1000 in a certificate of deposit that matures after 10 years and pays 5 percent interest which is compounded

A company acquired some land for 80000 to construct a new : 1. a capital expenditure would appear on thenbspa.income statement under operating expenses.nbspb.balance sheet under

Scott age 49 is a surviving spouse his household includes : compute taxable income in the following independent situationsscott age 49 is a surviving spouse. his household

Determine the materials price and quantity variances for : one of the products of hearts amp flowers is a one-pound boxof chocolate candy packaged in a box bearing the customers

Like conway is a lawyer who requires that his clients pay : like conway is a lawyer who requires that his clients pay him in advance of legal services rendered. mike routinely

How much of the 120000 would be distributed to the partners : the h i and j partnership was about to enter liquidation with the following account balancescash90000. noncash

Complete the below table to determine the bonds issue : consider each of the following three separate situations.1. the market rate at the date of issuance is 10.acomplete the

If the machine manufactured by toledo tools costs 27000 : heartland paper company is considering the purchase of a new high-speed cutting machine. tow cutting machine

Myron purchased 1500 of supplies in january and his : myron is a barber who does his own accounting for his shop. when he buys supplies he routinely debits supplies expense.

User Account

All Pages