A company provides consulting services and records unearned revenue of $12,000 at the beginning of the year. By the end of the year, the company has earned $9,000 of this amount. How much unearned revenue should still be reported on the balance sheet?

A company provides consulting services and records unearned revenue of $12,000 at the beginning of the year. By the end of the year, the company has earned $9,000 of this amount. How much unearned revenue should still be reported on the balance sheet?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter9: Current Liabilities And Contingent Obligations

Section: Chapter Questions

Problem 3RE: Cee Co.s fiscal year begins April 1. At the beginning of its fiscal year, Cee Co. estimates that...

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