D) How much revenue should SPC record from CA for the year 2022? $ E) How much would SPC show as unearned revenue as of_Dec, 31 2022? If none write 0. $ F) How much would SPC show as accounts receivable as of
D) How much revenue should SPC record from CA for the year 2022? $ E) How much would SPC show as unearned revenue as of_Dec, 31 2022? If none write 0. $ F) How much would SPC show as accounts receivable as of
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
Can you help with D, E, and F
![Ongoing Service Contract
Service Provider Company (SPC) and Customer A (CA) have recently
began doing business together on a 48 month contract. The contract can
be ended if either party is unsatisfied, as long as the parties are equal in
terms of cash payments and services provided.
Both companies follow GAAP and have a Dec 31 year end. Review the
following activity in 2021 and 2022.
Show your work on the PDF Upload. T accounts would be appropriate.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F75227c3d-0045-449f-908c-0dff54e4e54b%2Fb2fe0839-6b27-4f2c-a1fb-2c1f964d5f3a%2Fmtznign_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Ongoing Service Contract
Service Provider Company (SPC) and Customer A (CA) have recently
began doing business together on a 48 month contract. The contract can
be ended if either party is unsatisfied, as long as the parties are equal in
terms of cash payments and services provided.
Both companies follow GAAP and have a Dec 31 year end. Review the
following activity in 2021 and 2022.
Show your work on the PDF Upload. T accounts would be appropriate.
![A) How much revenue should SPC record from CA for the
2021? $
B) How much would SPC show as unearned revenue as of Dec
31, 2021. If none, write 0. $
C) How much would SPC show as accounts receivable as of
Dec 31, 2021. If none, write 0. $
2022:
* The agreement and services continue in 2022. A second cash
payment is made by CA to SPC on June 1, 2022 for $12,000.
D) How much revenue should SPC record from CA for the year
2022? $
E) How much would SPC show as unearned revenue as of_Dec,
31 2022? If none write 0. $
F) How much would SPC show as accounts receivable as of
Dec, 31 2022? If none write 0. $
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Transcribed Image Text:A) How much revenue should SPC record from CA for the
2021? $
B) How much would SPC show as unearned revenue as of Dec
31, 2021. If none, write 0. $
C) How much would SPC show as accounts receivable as of
Dec 31, 2021. If none, write 0. $
2022:
* The agreement and services continue in 2022. A second cash
payment is made by CA to SPC on June 1, 2022 for $12,000.
D) How much revenue should SPC record from CA for the year
2022? $
E) How much would SPC show as unearned revenue as of_Dec,
31 2022? If none write 0. $
F) How much would SPC show as accounts receivable as of
Dec, 31 2022? If none write 0. $
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