A client pays a company the full 12000.

Why is it easy to come up with creative marketing strategies for you clients, but not for yourself? Trusted by business builders worldwide, the HubSpot Blogs are your number-one so...The question pertains to the calculation of unearned revenue for a service that has been prepaid for an entire year using the accrual accounting method. When the client pays the full $12,000 balance of a year-long contract on October 1, the company records this as unearned revenue because the service will be provided over the coming 12 months.In addition, the business has Accounts Payable of $104,000 and Accounts Receivable of $86,000. How much is Akter's stockholders' equity? $206,000 A=L+E; A-L=E. Cohen Company billed a customer for $7,600 of services provided on account. This transaction appears in T-accounts as follows:2 Nov 2022 ... ... ($12,000/$50,000 = 24% x tax paid to Idaho). ... Client Co pays for Consulting Corp's services directly. ... relative to Dealer Co's total receipts.

Oct 11, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.

2 Nov 2022 ... ... ($12,000/$50,000 = 24% x tax paid to Idaho). ... Client Co pays for Consulting Corp's services directly. ... relative to Dealer Co's total receipts.On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. Load more. New questions in Business. Information can sometimes be better presented using (1 point) O long gray or black blocks of text O small font charts or graphs Onone of …

On October 1, Hughes Company paid $12,000 for two years of insurance in advance. Hughes Company recorded the transaction by debiting Prepaid Insurance and crediting Cash. Required: Journalize the adjusting entry on December 31. Intermediate Accounting: Reporting And Analysis. 3rd Edition. ISBN: 9781337788281.Aug 8, 2023 · To make the total pay the same, we can set Total Pay1 equal to Total Pay2: $12000 + $900x = $18400 + $500x. Now, we can solve this equation to find the value of 'x', which represents the number of cars needed to make the total pay the same. Subtracting $500x from both sides: $12000 + $400x = $18400. Subtracting $12000 from both sides: $400x = $6400 If a business has done work for a client ... The company calculates that the current year depreciation is $12,000. ... The company pays its employees every two ...Question 1 On July 1, 2017, Major Co. pays $12,000 to Cruz Insurance Co. for a 3-year insurance contract. Both companies have fiscal years ending December 31. Journalize and post the entry on July 1 and the adjusting entry on December 31 for Cruz Insurance Co. Cruz uses the accounts Unearned Service Revenue and Service Revenue. Question. On October 1, when a client pays a company the full $12,000 balance of a year-long contract using the accrual method, what's the unearned revenue as of December 31? Study. Evaluate. Related Courses. Verified by Proprep Tutor.

Many companies use services or software to allow employees to access their pay stubs electronically. These services are often provided by a third party, and are usually accessible ...

On october 1 a client pays a company the full 12000 balance of a year long contract. Using the accrual method what is the unearned revenue as of December 31. Answer by Guest. Based on the amount the client paid on October 1, the unearned revenue as at December 31 is $9,000.

To calculate the total amount of interest Billy will pay on his $12,000 student loan at an annual interest rate of 4.25% over 10 years, we can use the formula for simple interest: Interest = Principal × Rate × Time. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the ...Step 1. To determine the number of cars that would need to be sold in order for the total pay to be the same... Maxim has been offered positions by two car companies. The first company pays a salary of $12000 plus a commission of $900 for each car sold. The second pays a salary of $18400 plus a commission of $500 for each car sold.The business's assets (cash or bank account) are first reduced by $12,000 when it pays $12,000 ($1,000 per month) ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.6 days ago · Cash. $12,000. 1-15-2020. Unearned Revenue. $12,000. By posting the payment to the unearned revenue account, the revenue will not be recognized until the goods or services are provided. On January ... Step 1. On July 1, 2022, Crane Company pays $12,000 to Wildhorse Co.for a 1-year insurance contract. Both companies have fiscal years ending December 31. Journalize the entry on July 1 and the adjusting entry on December 31 for Wildhorse Co.. Wildhorse uses the accounts Unearned Service Revenue and Service Revenue.Dec 5, 2019 · The Baldwin Company currently has the following balances on their balance sheet: Total Assets $255,213 Total Liabilities $151,328 Retained Earnings $47,588 Suppose next year the Baldwin Company generates $44,200 in net profit, pays $12,000 in dividends, total assets increase by $55,000, and total liabilities remain unchanged. On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.

Glass Bottle Coffee Company is a calendar year, accrual-basis taxpayer. On October 1, 2017, Glass Bottle sold a 24-month subscription contract for $2,400. The client paid the full amount in cash. Under the contract, Glass Bottle delivers 20oz...On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?The student's question is about calculating the interest rate for a perpetuity offered by an insurance company. The perpetuity pays $12,000 annually and is sold for $250,000. By applying the formula for the yield of a perpetuity, we find that the implied interest rate is 4.8%. Explanation:A small business borrows $12,000 at nominal interest 12% compounded quarterly, to help cover start-up costs. Payout $750 done at the end of every 6 months during the time required to pay return the loan. Three months before the 9th payment is due, the company refinancing a loan with a nominal interest rate of 9%, compounded monthly.Accounting. Accounting questions and answers. On July 1, 2022, Damen Jurado Company pays $12,000 to its insurance company for a 2-year insurance policy Prepare the necessary journal entries for Damien Jurado on July 1 and December 31. (Credit account titles are automatically Indented when the amount is entered. Do not Indent manually.Q5. On September 1, your calendar year company pays $12,000 for 1 year's rent that you debit to Prepaid Rent. At year end, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. Rent Expense 4,000 Cash 4,000 O b. Rent Expense 4,000 Prepaid Rent 4,000 O c. Prepaid Rent 8,000 Rent Expense 8,000 O d.The financial institution should record the cash deposit of $12,000 on the business day following the bank holiday to ensure accurate and up-to-date accounting. ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.

On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of December31? $0 $1,000 $5,000 $9,000 $12,000 One website gives two answer $9,000 and $12,000, then i asked chatgpt, it even gives me another answer $0 Now i'm really confused..... please help

On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31? $0 $1,000 $5,000 $9,000 $12,000 There are 2 steps to solve this one.Question: If a company receives $12,000 from the owner to establish a proprietorship, the effect on the accounting equation would be: ... View the full answer. Step 2. Unlock. Answer. Unlock. Previous question Next question. Not the question you’re looking for? Post any question and get expert help quickly. Start learning .On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.Demonstrate journal entries for sales and payments on account. Let’s look at three transactions from NeatNiks: Oct 15: Received $1,500 cash for services performed. Oct 20: Billed customers $7,250 for work done in October. Oct 30: Collected $1,600 from customers on account. And at one question:Your phone bill arrives like clockwork each month, so you’ll need to budget for this expense. Phone companies have created a variety of ways for their customers to pay their bills ...Step 1. Every business transaction is recorded in... Sample Company pays $12,000 on October 1 for a one year insurance policy. The company follows the alternative for deferrals by debiting insurance expense on …99% ( 577 rated) $9,000. 1 Calculate the amount of revenue earned from October 1 to December 31. Since the contract is year-long, the revenue earned as of December 31 is …On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31.You can cancel anytime! Get instant answers from our online experts! Our experts use AI to instantly furnish accurate answers. Answer of On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of...

On October 1, Hughes Company paid $12,000 for two years of insurance in advance. Hughes Company recorded the transaction by debiting Prepaid Insurance and crediting Cash. Required: Journalize the adjusting entry on December 31. Intermediate Accounting: Reporting And Analysis. 3rd Edition. ISBN: 9781337788281.

Find a 3PL company today! Read client reviews & compare industry experience of leading third party logistics companies. Development Most Popular Emerging Tech Development Languages...

Find a Angular developer today! Read client reviews & compare industry experience of leading Angular development companies. Development Most Popular Emerging Tech Development Langu...As a business owner, one of the most important aspects of growing your company is finding new clients. With the ever-evolving landscape of marketing, it’s crucial to stay ahead of ...Jun 24, 2023 · On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. In today’s digital age, freelance writing has become a popular way for individuals to earn a living while pursuing their passion for writing. Upwork is one of the largest online pl...Western Company has total available cash of $42,000 (Beg $12,000 & Cash receipts $30,000) but they have to pay obligation in the amount of $34,500. As a result, it will cause their balance below the maintaining amount.Accounts Payable. On August 1, Sierra Sports purchases $12,000 of soccer equipment from a manufacturer (supplier) on credit. Assume for the following examples that Sierra Sports uses the perpetual inventory method, which uses the Inventory account when the company buys, sells, or adjusts the inventory balance, such as in the following …On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of December31? A company sells 10,000 shares of previously authorized stock at the par value of $10 per share.Find step-by-step Accounting solutions and your answer to the following textbook question: A company performs $10,000 of services and issues an invoice to the customer. Using the accrual method. what's the correct entry to record the transactions? (A) Debit unearned revenue$10,000, credit sales revenue $10,000 (B) Debit accounts payable$10,000, credit …On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. The adjusting journal entry on December 31, 2015 is: You own an insurance company. On December 1, 2015, the a client pays $12,000 to cover a building for the period December 1, 2015-November 30, 2016. There are 2 steps to solve ...Question: On October 1, a client pays a company the full $12,000 balance of a year long contract. Using the Accrual method, what's the unearned revenue as of...On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned revenue as of December 31. verified. Verified answer. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share. What's the correct entry to record the transaction?

On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the Accrual method, what's the unearned revenue as of December 31? SolutionCash. $12,000. 1-15-2020. Unearned Revenue. $12,000. By posting the payment to the unearned revenue account, the revenue will not be recognized until the goods or services are provided. On January ...The yearly payment is $2,400 ($12,000/5). After two payments, a total of $4,800 has been paid, leading to a balance of $7,200 ($12,000 - $4,800). However, this balance does not take into account the interest rate of 4%. The balance after two years, taking into account the compound interest, would be higher.Demonstrate journal entries for sales and payments on account. Let’s look at three transactions from NeatNiks: Oct 15: Received $1,500 cash for services performed. Oct 20: Billed customers $7,250 for work done in October. Oct 30: Collected $1,600 from customers on account. And at one question:Instagram:https://instagram. iga richburg scpromises aa big booksinging river electric pay billgrezi photos Let's break it down step by step: 1. The company receives $11,800 from a client, which is considered a cash inflow. This increases the company's cash balance, which is an asset. 2. As a result, the assets of the company increase by $11,800. 3. On the other side of the equation, since the company has provided services to the client, it has ... select staffing temp agencyshogun japanese restaurant richmond hill ga 31324 Descriptions: On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what’s the unearned revenue as of December 31. More : On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what’s the unearned revenue as of December 31.May 12, 2022 · The unearned revenue as of December 31 will be $ 12,000. Reason been that the amount that the client paid the company is for a year- long contract, hence the $ 12,000 represent a prepayment amount for the service the company is yet too rendered to their client. Thus, using the accrual method, the unearned revenue as of December 31 is $ 12,000. krispy kreme st petersburg fl She hires one helper at $12,000 per year, pays annual rent of $5,000 for her shop, and spends $20,000 per year on materials. She has $40,000 of her own funds invested in equipment (pottery wheels, kilns, and so forth) that could earn her $4,000 per year if alternatively invested. ... On October 1, a client pays a company the full $12,000 ...Help them pay you. If a client won’t pay, maybe give them a gentle reminder, a reason to pay you. Detail what you have provided, check there are no issues with the invoice, and make sure they are satisfied with what has been delivered. Check your contract. Make sure your payment terms are clear, simple, and protect you.Use the percentage method of income tax calculation to complete the payroll roster (in $). Use (a) the percentage method and (b) the wage-bracket method to compute the federal income taxes to withhold from the wages or salaries of each employee. Enter all amounts as positive numbers.