FA18 ACG 2021 TITh 11-12-30 Homework: Chapter 3 Homework Score: 0.34 of 1 pt &E3
ID: 2334760 • Letter: F
Question
FA18 ACG 2021 TITh 11-12-30 Homework: Chapter 3 Homework Score: 0.34 of 1 pt &E3A-32 (similar to amount eamed from advance payments) Al year-end, the liabilily for uneamed revenue is $3,100 and unadjusted service revenue in $46,000 4 of 5 HWScoret 52.15%, 2.61 d'spts Road the requirements. 2.100 Unad bal Bal 2. Record the adjunting entry assuming that Modish necords the cash receipt of uneamed revenue by inialy he beginning balance in the Uneamed Revenue Taccount and the additional uneamed revenue in the Service Revenve T-account crediting a revenue account. Post the adjusting enty to the Uneamed Ravenue and Service Reveue Taccounts Ma Debit DateExplanation / Answer
Unearned Revenue a/c
Date
Particulars
Amount
Date
Particulars
Amount
Earned from advance collection
5500
Begning
Unadjusted balance
2100
Balance
3100
Cash collected for future service
6500
8600
8600
Revenue a/c
Date
Particulars
Amount
Date
Particulars
Amount
Unadjusted balance
45000
Unadjusted balance
39500
Earned from advance collection
5500
45000
45000
1
Customer a/c
Dr
2100
Unearned revenue a/c
Cr
2100
(Opening unadjusted balance)
2
Cash a/c
Dr
6500
Revenue a/c
Cr
6500
(Advance cash receipt)
3
Unearned revenue a/c
Dr
6500
Revenue a/c
Cr
6500
(Transfered to unearned revenue)
4
Customer a/c
Dr
39500
Unearned Revenue a/c
Dr
5500
Revenue a/c
Cr
45000
(Revenue Earned)
Unearned Revenue a/c
Date
Particulars
Amount
Date
Particulars
Amount
Earned from advance collection
5500
Begning
Unadjusted balance
2100
Balance
3100
Cash collected for future service
6500
8600
8600
Revenue a/c
Date
Particulars
Amount
Date
Particulars
Amount
Unadjusted balance
45000
Unadjusted balance
39500
Earned from advance collection
5500
45000
45000
1
Customer a/c
Dr
2100
Unearned revenue a/c
Cr
2100
(Opening unadjusted balance)
2
Cash a/c
Dr
6500
Revenue a/c
Cr
6500
(Advance cash receipt)
3
Unearned revenue a/c
Dr
6500
Revenue a/c
Cr
6500
(Transfered to unearned revenue)
4
Customer a/c
Dr
39500
Unearned Revenue a/c
Dr
5500
Revenue a/c
Cr
45000
(Revenue Earned)
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