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Homework Answers
The 220000 cash collected during the year would increase the balance of deferred revenue account
Lets assume that beginning balance of deferred revenue account is $10000
In the question it is given that during the year deferred revenue account decreased by $10000. This means that the ending value of deferred revenue account should be 0
Ending deferred revenue balance = Beginning balance + Cash collected - Revenue recognized
0 = 10000 + 220000 - Revenue recognized
Revenue recognized = 10000 + 220000
= 230000
Choice C is the correct answer
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I need answers for my reviewer.
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*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
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a.
Issued 10,000 additional shares of common stock for $25,000
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i just need 10 and 12 answered!!! Thank you!
Are you reading from a computer or a cellphone? They are clear
on my computer
just need 10 and 12 answered pls
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Can you help me fix the question i got wrong, and the income balance. thank you!!!...
Can you help me fix the question i got wrong, and the income
balance. thank you!!!
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Correct my mistakes please and give explanation if possible
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s you need to edit. It's safer to stay in Protected View. Enable Editing During the last three months (April, May, and June) of the first fiscal year of operations of My Assistant, a few new types of transactions began to occur. These involve different ways the company is paying for some items, different ways the company is being paid, and the earning of interest. In all cases, keep in mind that economic events need to be reported when they...
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*Specifically looking for help with t-accounts and
question 4, thank you!!*
As a recently hired accountant for a small business, SMC, Inc.,
you are provided with last year’s balance sheet, income statement,
and post-closing trial balance to familiarize yourself with the
business.
You are also given the following information that summarizes the
business activity for the current year,2018
a.
Issued 10,000 additional shares of common stock for $25,000
cash on January 1st.
b.
Borrowed $10,000 on March 1, 2018, from...
i just need 10 and 12 answered!!! Thank you!
Are you reading from a computer or a cellphone? They are clear
on my computer
just need 10 and 12 answered pls
The Business Situation When Shelley Jones became president-elect of the Circular Club of Auburn, Kansas, she was asked to suggest a new fundraising activity for the club. After a consider- able amount of research, Shelley proposed that the Circular Club sponsor a pro- fessional rodeo. In her presentation to...
Can you help me fix the question i got wrong, and the income
balance. thank you!!!
On January 1, 2021, the general ledger of Grand Finale Fireworks includes the following account balances: 100 points Skipped Accounts Cash Accounts Receivable Supplies Equipment Accumulated Depreciation Accounts Payable Common Stock, $1 par value Additional Paid-in Capital Retained Earnings Totals Debit Credit $ 43,600 46,300 8,400 73,000 $ 9,900 15,500 19.00 89.000 37,900 $171,300 $171,380 eBook Print During January 2021, the following transactions occur...
Correct my mistakes please and give explanation if possible
thank you.
-General journal
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