Cooper Company receives $32,000 in cash for services performed in advance. At the end of the year, Cooper Company has earned $23,500 . The adjustment would involve a
a. debit to Unearned Services, $23,500 .
b. credit to Income from Services, $32,000 .
c. debit to Unearned Services, $8,500 .
d. debit to Cash, $23,500 .
a
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Scott Company sells merchandise with a one-year warranty. Sales consisted of 2,500 units in Year 1 and 2,000units in Year 2 . It is estimated that warranty repairs will average $10 per unit sold, and 30% of the repairs will bemade in Year 1 and 70% in Year 2 for the Year 1 sales. Similarly, 30% of repairs will be made in Year 2 and 70%in Year 3 for the Year 2 sales. In the Year 3 income
statement, how much of the warranty expense shown will bedue to Year 1 sales? a. $6,000. b. $14,000. c. $20,000. d. $0.
Which of the following is NOT a conflict-handling mode?
A. Competing B. Accommodating C. Avoiding D. Compromising E. Agitating
Owners of interests in businesses with unlimited liability place their entire estate at risk
a. True b. False Indicate whether the statement is true or false
_____ perform a variety of accounting functions for local, state, or federal agencies, such as the Internal Revenue Service (IRS) and the Federal Deposit Insurance Corporation (FDIC).
A. Public prosecutors B. Government accountants C. Public accountants D. Social accountants