A client pays a company the full 12000.

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 December31? On October 1, a client pays a company the full $12,000 balance of a year long contract.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:Asked by Aminejennane. 1) The company paid, on October 1, X5, $ 12,000 for one-year insurance coverage on its plant. The entire amount in question has been recorded by the accountant in the Insurance charges account. From this information, indicate the adjustment that will be necessary in order to present the financial statements for the period ...1. On January 1, the company pays one year of rent in advance for $12,000 ($1,000 per month). This means they have prepaid the rent for the entire year. 2. However, at the end of January (January 31), only one month has passed since the payment was made. So, the company needs to adjust their accounting records to reflect this. 3.

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 …

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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 December31? On October 1, a client pays a company the full $12,000 balance of a year long contract.After taking out a $12,000 loan that charged 25.7% compound interest for 3 years without making any payments, Frank would need to pay back approximately $30,107.51 at the end of those 3 years. Explanation: The subject of this problem is Mathematics, specifically dealing with loan calculations that involve compound interest. Frank took out a ...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. Notify the credit card companies in order to negotiate a payment plan. Study with Quizlet and memorize flashcards containing terms like Which financial product typically pays the highest rate of interest?, Troy has $50.00 a month transferred electronically from his checking account to his savings account. This is an example of:, When a person ...

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12 Dec 2018 ... In this example, we will recognize $1,000 a month over a twelve month period. At the end of twelve months, we have recognized the full $12,000 ...

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 …Despite the large number of Twitter clients available for Linux, none of them are perfect. Our favorite would have to be the powerful, customizable Choqok. Despite the large number...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. 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 (3/12) * 12,000 = 3,000. 2 Subtract the revenue earned from the total payment to find the unearned revenue. 12,000 - 3,000 = $9,000. Need improvement.

Journal Entry Worksheet. a) On April 2, the company prepaid $9,000 cash for twelve months' rent for office space. b) The balance in Prepaid insurance represents the premium paid for a 12-month insurance policy the policy's coverage began on April 1. c) Office supplies on hand as of April 30 total $1,200. d) Straight-line depreciation of office ...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 …Client onboarding is a crucial process for any business. It involves welcoming new clients, gathering necessary information, and ensuring a smooth transition into the company’s pro...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 December31? On October 1, a client pays a company the full $12,000 balance of a year long contract.Jan 23, 2023 · On October 1, a client pays a company the full $12,000 for a year-long contract. Using the accrual method, we spread this revenue over the 12 months it covers. By December 31, three months have passed, equating to a quarter of the contract term. As such, the company has earned one quarter of the payment, which is $3,000 ($12,000 / 4). The interest rate is 11.5%, so we multiply the loan amount ($12,000) by the interest rate (0.115) to find the annual interest: $12,000 * 0.115 = $1,380 So, each year, you will pay $1,380 in interest. Since there are four equal end-of-year payments, the interest payment will be the same for each year.

A company started the year with $10,000 of inventory. Purchases for resale during the year were $20,000. Inventory on December 31 is $5,000. What's the cost of goods sold? $5,000. $10,000. $25,000. $30,000. $35,000. Question 12/12. A company sells 10,000 shares of previously authorized stock at the par value of $10 per share.View the full answer. ... Common Stock 100,000 1, October 2: Pioneer Advertising receives a $12,000 cash advance from R. Knox, a client, for advertising services that are expected to be completed by December 31. 2, October 4: Pioneer Advertising pays $6,000 for a one-year insurance policy that will expire next year on September 30. 3, October ...

The company pays $12,000 to its insurance company. ... View the full answer. Step 2. Unlock. Step 3. Unlock. Answer. Unlock. Previous question Next question. Transcribed image text: On July 1, 2027, Damlen Jurado Company pays $12, 000 to its insurance company for a two-year insurance policy. Prepare the necessary journal entries …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.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.Suppose next year the Baldwin Company generates $36,500 in net profit and pays $15,000 in dividends and total liabilities and common stock remain unchanged. What must their total assets be next year? A. $194,136 ... a client pays a company the full $12,000 balance of a year-long contract. Using the accrual method, what's the unearned …Sep 29, 2022 · On October 1, Organic Farming purchases wind turbines for $140,000. the turbines are expected to last six years, have a salvage value of $20,000, and be depreciated using the straight-line method. 1. Compute depreciation expense for the last three months of the first year. 2. Compute depreciation expense for the second year. A company pays $18,000 in interest on notes, consisting of $12,000 interest that was accrued during the last accounting period and $6,000 of interest that accumulated during the current accounting period but has not yet been accrued on the books. The journal entry for the interest payment should: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 ...Thus, the remaining unearned revenue is $9,000. Unearned revenue is the amount received from a client for a service that has yet to be rendered. Since the …

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Feb 17, 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 December31?

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?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 …Business; Accounting; Accounting questions and answers; Gomez Management Services Inc. accepts an 18-month, 12%, $5,000 note receivable from a client in settlement of an outstanding accounts receivable on November 1, 2018. The client pays off the note on April 30, 2020. Gomez should recognize interest revenue in 2020 ofYour calendar year company, which is on the accrual basis, receives a 10% commission on sales. When JenCo signs up, it pays you $5,000 in advance, which you credit to Unearned Revenue. If, at the year-end, your firm has achieved $20,000, what adjusting entry do you record? Revenue $2,000 Unearned Revenue $2,000 Cash $2,000 Revenue $2,000Cash. $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 ...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?Business. Accounting questions and answers. You own an insurance company. On December 1, 2015, the a client pays $12,000 to cover a building for the …Question: Your calendar year company pays $12,000 a year for security services. On November 1. you remit payment for the next 3 months' service and record it in Prepaid Security Expense. At year end, what adjusting entry will you record? (first line debit - second line credit) Select one: O a. Security Expense 3,000 Prepaid Security Expense 3. ...

Notify the credit card companies in order to negotiate a payment plan. Study with Quizlet and memorize flashcards containing terms like Which financial product typically pays the highest rate of interest?, Troy has $50.00 a month transferred electronically from his checking account to his savings account. This is an example of:, When a person ...You are only obligated to pay rent one month in advance. If you put this journal entry to a prepaid account in your financial statements, you spread the $12,000 ...Principal amount: $12,000 Term: 3 years Coupon rate: 5% Coupon payment: $600 b. ... On October 1, a client pays a company the full $12,000 balance of a year-long ...Instagram:https://instagram. lateasha lunceford birthday 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 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. pikeville funeral home obituaries 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 . dell safe bios In the world of business, first impressions matter. And when it comes to showcasing your company to potential clients, investors, or even employees, a well-crafted company profile ... swav stocktwits 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. wellsfargo flex loan May 31, 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. ebony and ivory coffee photos Find an answer to your question A company buys a machine for $12,000, ... A company buys a machine for $12,000, which it agrees to pay for in five equal annual payments, beginning one year after the date of purchase, at an interest rate of 4% per annum. ... On October 1, a client pays a company the full $12,000 balance of a year … lotawata creek fairview heights il 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?During the year, Buffalo reports net income of $7,800 and pays dividends of $2,500. In addition, Buffalo issues additional common stock for $7,300. Required: Prepare the statement of stockholders' equity at the end of the year (December 31). ... On October 1, a client pays a company the full $12,000 balance of a year-long contract. Using the ... kroger mt zion il 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? weather savannah ga 10 day Ex 8 On July 1 2014 Damlen Jurado Company pays 12000 to its insurance company from XCCC 24234 at Swedish College of Engineering and Technology, Rahim Yar Khan ... Accident Insurance Associates received $9,000 from a client for a 3-year ... On September 1, a check for $9,600 was received from a tenant for six months' rent. The full amount …Nov 12, 2019 · None of the multiple choices is correct. The correct answer should be: "Business profit will increase by $12,000 per year" Explanation: $12,000 per year is the rental rate. If his Uncle Fred gives him the building, George will not pay the rental fee. Thus, the business profit will increase by $12,000 per year. tucson al anon 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.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 December3... new china medford oregon 10+ on october 1 a client paid the company most accurate. Wikipedia ...When you build a spec home, you'll have to work with a mortgage lender. If you're a builder building a custom home for a client, that client will get a mortgage loan to pay you whi...a.Pay employee salaries of $3,200 for the current month. b.Pay office rent for the current month, $4,400. c.Purchase office supplies on account for $2,500. d.Receive cash of $5,000 in advance from a customer who plans to have his house painted in the following month. e.None of the above. e. none of the above.