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Author Question: On November 1, 2011, Delectable Edibles, Inc received 12,000 in advance for services to be performed ... (Read 121 times)

tth

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on: Jul 5, 2018
On November 1, 2011, Delectable Edibles, Inc received 12,000 in advance for services to be performed evenly over the next 12 months.
 
  Record (a) the cash received on November 1, 2011 and (b) the adjusting entry at December 31, 2011 in the T-accounts below:
 
  What will be an ideal response?

Question 2

A form of balance sheet that lists the liabilities and the owner's equity sections below the assets section is called the
 a. account form.
   b. journal form.
   c. report form.
   d. current form.


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TDubDCFL

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Reply #1 on: Jul 5, 2018
Answer to Question 1

Cash
(a) 12,000

Unearned Revenue

(b) 2,000 12,000(a)

Revenue

2,000(b)

Answer to Question 2

c


tth

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Reply 2 on: Jul 5, 2018
YES! Correct, THANKS for helping me on my review

tuate

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  • Posts: 332
Reply 3 on: Yesterday
Great answer, keep it coming :)

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