Accounting Accounting Practice Problems Solutions Library

Adjusting Entries: Unearned Revenue Solutions Library

Access 14 Adjusting Entries: Unearned Revenue video and text solutions to help you complete your homework. Need to revisit the concept? Watch our Adjusting Entries: Unearned Revenue learn videos.

Browse Solutions

14 solutions

Adjusting Entries: Unearned Revenue

Q. What type of an account is Unearned Revenue? a. Asset b. Liability c. Revenue d. Expense

Solved • Nov 22, 2017

Adjusting Entries: Unearned Revenue

Q. Unearned Revenue is classified as which type of account? A) asset B) liability C) stockholders' equity D) revenue

Solved • Aug 2, 2017

Adjusting Entries: Unearned Revenue

Q. Deferred revenues of $24,000 were received and properly recorded and entered in the ledger of the company. At the end of the accounting period, one...

Solved • Aug 1, 2017

Adjusting Entries: Unearned Revenue

Q. On 12/1/12, ABC Company receives $1,200 in advance for an annual contract to provide pest control services in the future over the next 12 months. R...

Solved • Jul 27, 2017

Adjusting Entries: Unearned Revenue

Q. Legaleese Inc. received $2,000 cash for legal services to be rendered in the future. The full amount was credited to the liability account Unearned...

Solved • Jul 17, 2017

Adjusting Entries: Unearned Revenue

Q. An unearned revenue is: a) Cash received from a customer after the service is performed b) Cash received from a customer before the service is pe...

Solved • Jul 11, 2017

Adjusting Entries: Unearned Revenue

Q. A landlord should report rent collected in advance as a debit to Cash and a credit to: a) A liability. b) An asset other than Cash. c) A revenue...

Solved • Jul 11, 2017

Adjusting Entries: Unearned Revenue

Q. Failure to record the adjustment to recognize revenue initially recorded as unearned revenue: a) Understates liabilities b) Understates revenue ...

Solved • Jul 7, 2017

Adjusting Entries: Unearned Revenue

Q. Rivard Company records $50,000 in the unearned revenue account during its first year of operations. The ending balance of unearned revenue is deter...

Solved • Jul 7, 2017

Adjusting Entries: Unearned Revenue

Q. The Booker Theater offered books of theater tickets to its patrons at $30 per book. Each book contained a certain number of tickets to future perfo...

Solved • Jul 7, 2017

Adjusting Entries: Unearned Revenue

Q. The account Unearned Management Fees would appear in the balance sheet as a(n): a. Asset. b. Liability. c. Revenue. d. Expense.

Solved • Jul 7, 2017

Adjusting Entries: Unearned Revenue

Q. The adjusting entry required when amounts previously recorded as unearned revenues are earned includes: A) A debit to a liability. B) A debit to ...

Solved • Jul 6, 2017

Adjusting Entries: Unearned Revenue

Q. Sunbrella Insurance Company collected premiums throughout the year from its customers totaling $18,000. The adjusted balance in its Unearned Premiu...

Solved • Jul 5, 2017

Adjusting Entries: Unearned Revenue

Q. On September 1, 20X1, Finally 18 Magazine sold a total of 600 one-year subscriptions at a price of $81 each. The accountant credited the entire amo...

Solved • Jul 5, 2017