Use this information pertaining to the Alvino Corporation to answer the following question. 1 . The corporation's Store Supplies account showed a beginning debit balance of $200 and supplies purchased of $800 . There were $300 of supplies on hand at year end. 2 . Depreciation on a building is estimated to be $5,000. 3 . A one-year insurance policy was purchased for $2,000 . Three months have
passed since the purchase. 4 . Accrued interest on a note receivable amounted to $100. 5 . The company received a $3,600 advance payment during the year on services to be performed. By the end of the year, one-fourth of the services had been performed. The adjusting entry to record the amount of service revenue earned during the accounting period is
a. Service Revenue 2,700
Unearned Revenue 2,700
b. Unearned Revenue 2,700
Service Revenue 2,700
c. Service Revenue 900
Unearned Revenue 900
d. Unearned Revenue $ 900
Service Revenue $ 900
D
You might also like to view...
Trading securities are reported on the balance sheet at cost
a. True b. False Indicate whether the statement is true or false
The data dictionary describes all of the data elements in the database
Indicate whether the statement is true or false
The Society for Human Resource Management recommends that performance should be rated on a scale of
a. One to three b. One to five c. One to four d. One to seven
What conversational stance does a good networker take?
a. generally takes the lead in the conversation b. actively listens, leaning forward, and mirroring the speaker’s gestures c. tends to join the larger group where more people can hear his or her message d. will listen at first, then turn the conversation to his or her entrepreneurial goal