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Q. Example of Unearned service fees?
Unearned service fees On December 7 Micro Train Company received USD 4500 from a customer in payment for future training services. The firm enters the following journal entry
The two T-accounts recitation to training fees are Unearned Service Fees a liability and Service Revenue. These accounts shows as follows on 2010 December 31 before adjustment
The balance in the Unearned Service Fees liability account set up when Micro Train received the cash will be converted into revenue as the company performs the training services. Previous to Micro Train prepares its financial statements it must make an adjusting entry to transfer the amount of the services performed by the company from a liability account to a revenue account.
Q. Explain about Purchase returns and allowances? Purchase returns and allowances A purchase return takes place when a buyer returns merchandise to a seller. When a buyer recei
Q. Show Recording changes in dividends? Recording changes in dividends ever since dividends decrease retained earnings increases appear on the left side of the Dividends accoun
Accounts payable subsidiary ledger Accounts are designed to show balance owed to every creditor. Liability accounts generally have credit balances. Accounts are not assigned nu
If my company sells 4000 shares of common stock for $86,400, how do I record this in the Journal?
Q. Explain sales return? A sales return is merchandise return by a buyer. Buyers and Sellers regard a sales return as a cancellation of a sale. Otherwise some customers keep un
Hello, I'm having trouble understanding Direct Cost, Overhead Cost and Indirect Cost. ***Also Period cost and Product cost. please can anyone explain it and give examples for eac
WHAT DO YOU MEAN BY ACCRUAL CONCEPT
The following was taken from the records of the Frederic Products Company for 200X: 5) y for 200X: Total estimated manufacturing overhead cost for the year is $288,750 Total
Provided services on credit to Yamato P/L $5 900. How do we apply this in the t accounts
How does contribution margin work?
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