« previous next »

Author Question: Unearned Revenue is classified as a(n) a. revenue account. b. expense account. c. liability ... (Read 53 times)

dalyningkenk

  • Hero Member
  • *****
  • Posts: 598
on: Jul 6, 2018
Unearned Revenue is classified as a(n)
 a. revenue account.
   b. expense account.
   c. liability account.
   d. contra revenue account.
   e. asset account.

Question 2

Assume that the town of Beatrice earned the following during the year:
   Charges for services in public works of 289,000
   Public safety operating grants of 100,000
   Property taxes of 1,950,000
   Interest earned on restricted grants
 
  of 5,750
   Interest earned on unrestricted grants of 3,250
   Public works capital grants of 310,000
   Sales taxes of 425,000
  Based on this information and assuming all revenues were earned, governmental activities general revenues for the year would be
  a. 3,083,000
  b.  704,750
  c. 1,950,000
  d. 2,378,250
  e. 2,384,000


jointhecircus

  • Sr. Member
  • ****
  • Posts: 343
Reply #1 on: Jul 6, 2018
Answer to Question 1

c

Answer to Question 2

D


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Fungal nail infections account for up to 30% of all skin infections. They affect 5% of the general population—mostly people over the age of 70.

Did you know?

Liver spots have nothing whatsoever to do with the liver. They are a type of freckles commonly seen in older adults who have been out in the sun without sufficient sunscreen.

Did you know?

Chronic marijuana use can damage the white blood cells and reduce the immune system's ability to respond to disease by as much as 40%. Without a strong immune system, the body is vulnerable to all kinds of degenerative and infectious diseases.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

Automated pill dispensing systems have alarms to alert patients when the correct dosing time has arrived. Most systems work with many varieties of medications, so patients who are taking a variety of drugs can still be in control of their dose regimen.

Enzymatic features of DNA polymerase that account for its inability to copy one of the DNA strands a Enzymatic features of DNA polymerase that account for its inability to copy one of the DNA strands a
U.S. Study on Identity Achievement With age, more young people are classified in identity achieveme U.S. Study on Identity Achievement With age, more young people are classified in identity achieveme
Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme Cultural Variations in the Strange Situation Across cultures, most toddlers exhibit secure attachme
If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ... If you are able to earn 6.2% compounded semi-annually in an account, how long will it take for ...
The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case The chromosome locations for BRCA1 and BRCA2. Together, these genes account for the majority of case
A mother invests $9000 in a bank account at the time of her daughter's birth. The interest is ... A mother invests $9000 in a bank account at the time of her daughter's birth. The interest is ...
Video: Molecules, Membrane Permeability and Structure

For a complete list of videos, visit our video library