Author Question: Enoch, Inc. began operations on July 1, 2011. On August 1, it received 12,000 in advance for ... (Read 114 times)

washai · **on:** Jul 5, 2018

Enoch, Inc. began operations on July 1, 2011. On August 1, it received 12,000 in advance for services to be performed evenly over the next 12 months. How much unearned revenue should the company report on its balance sheet at December 31, 2011?

A) 12,000
B) 1,000
C) 7,000
D) 5,000

Question 2

After estimating its payroll for the year, an employer usually pays workers' compensation insurance
a. at the beginning of the year.
b. monthly.
c. quarterly.
d. at the end of the year.