This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The Unearned Revenue account would be used when a company a. collects cash and earns the revenue in ... (Read 191 times)

segrsyd

  • Hero Member
  • *****
  • Posts: 530
on: Jul 6, 2018
The Unearned Revenue account would be used when a company
 a. collects cash and earns the revenue in the same fiscal period.
   b. collects cash and earns the revenue over two fiscal periods.
   c. pays cash for services not yet earned.
   d. pays cash for services earned in two fiscal periods.
   e. does none of these.

Question 2

The city's central garage, which is accounted for as an Internal Service Fund, repairs and maintains all of the city's vehicles. The fire department is accounted for in the General Fund.
 
  The Central Garage Internal Service Fund sends a bill to the fire department for 18,000, which represents the cost of maintaining fire trucks for the month. The Central Garage should record
  A. Debit Due from General Fund and credit Revenues.
  B. Debit Due from General Fund and credit Expenses.
  C. Debit Expenses and credit Due to General Fund.
  D. Debit Revenues and credit Due to General Fund.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

fwbard

  • Sr. Member
  • ****
  • Posts: 325
Reply #1 on: Jul 6, 2018
Answer to Question 1

b

Answer to Question 2

A


segrsyd

  • Member
  • Posts: 530
Reply 2 on: Jul 6, 2018
Great answer, keep it coming :)

sultansheikh

  • Member
  • Posts: 335
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

Signs and symptoms that may signify an eye tumor include general blurred vision, bulging eye(s), double vision, a sensation of a foreign body in the eye(s), iris defects, limited ability to move the eyelid(s), limited ability to move the eye(s), pain or discomfort in or around the eyes or eyelids, red or pink eyes, white or cloud spots on the eye(s), colored spots on the eyelid(s), swelling around the eyes, swollen eyelid(s), and general vision loss.

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

Patients who have undergone chemotherapy for the treatment of cancer often complain of a lack of mental focus; memory loss; and a general diminution in abilities such as multitasking, attention span, and general mental agility.

Coenzyme Q collects electrons from multiple flavoproteins Coenzyme Q collects electrons from multiple flavoproteins
Buildings account for 15% of greenhouse gas emissions Buildings account for 15% of greenhouse gas emissions
A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 ... A company spends $117 500 today and has positive cash inflows of $34 000 for each of the next 6 ...
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 ...
Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ... Jia's Fashions recently paid a $2 annual dividend. The company is projecting that its ...
A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ... A bank statement shows a balance of $2,970.31 The check register of the account owner shows an ...
Video: Antidiuretic hormone (vasoconstriction, water reabsorption & sweat inhibition)

For a complete list of videos, visit our video library