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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.
Q. Explain Statement of retained earnings? The statement of retained earnings demonstrates the change in retained earnings between the beginning and end of a period e.g. a mont
my unadjusted balance is not the same under credits and debits? And I can''t figure what went wrong.
Earned service revenue and received cash As its first transaction in July Metro performed deliverance services for customers and received USD 4800 cash. This transaction improv
who are sole traders
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.”
The capital accounts of Hawk and Martin have balances of $160,000 and $140,000, respectively, on January 1, 2010, the beginning of the current fiscal year. On April 10, Hawk inve
Advantages of setting Accounting Standards: 1. Setting of Accounting Standards will decrease the variations in the preparation of financial statements significantly. 2. Sett
Closing entries perhaps prepared directly from the work sheet. The first journal entry debits all items appearing in the Income Statement credit column as well as credits Income Su
debit balance
International Capital Budgeting Question 1. How does international capital budgeting differ from domestic capital budgeting? Many firms, when assessing international proj
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