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Q. What is Unbilled training fees?
A company may possibly perform services for customers in one accounting period while it bills for the services in a different accounting period. Micro Train Company carries out USD 1000 of training services on account for a client at the end of December. Ever since it takes time to do the paper work Micro Train will bill the client for the services in January. The essential adjusting journal entry at 2010 December 31 is:
Subsequent to posting the adjusting entry the T-accounts appear as follows
The service revenue emerge in the income statement the asset accounts receivable appears in the balance sheet.
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On December 31, 2003, Jamfest Travel Inc. had 450,000 shares of no-par common stock issued and outstanding. All shares were sold for $7.50. On June 30, 2004, the firm issued an add
Q. How does asset cash increase? An asset cash increases (debited) as well as a liability unearned service revenue increases (credited) by USD 4500. The credit is to Unearned S
Fixed Assets An additional categorization other than current or long-term is as well used for property. A "fixed asset" is an asset which is planned to be of a lasting nature a
On December 31, 2013, a company issues bonds with a par value of $600,000. The bonds mature in 10 years, and pay 6% annual interest, payable each June 30 and December 31. The bon
Describe the mechanisms that WorldCom's management used to transfer profit from other time periods to inflate the current period.
consumer mind is a black box
An asset or account of borrower, which has been classified by a bank or financial institution as sub-standard, doubtful or loss assets as per the guidelines issued by RBI. An
Compensation for the uncertainties inherent in supply and demand
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