Horngren's Accounting, Student Value Edition (12th Edition)

12th Edition

ISBN: 9780134487151

Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura

Publisher: PEARSON

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Textbook Question

Chapter 3, Problem 10QC

On February 1, Clovis Wilson Law Firm contracted to provide $3,000 of legal services for the next three months and received $3,000 cash from the client. Assuming Wilson records deferred revenues using the alternative treatment, what would be the adjusting entry recorded on February 28?

Learning Objective 7 Appendix 3A

Date	Accounts and Explanation	Debit	Credit
a.	Cash	3,000
	Unearned Revenue		3,000
b.	Service Revenue	2,000
	Unearned Revenue		2,000
c.	Unearned Revenue	1,000
	Service Revenue		1,000
d.	Cash	3,000
	Service Revenue		3,000

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Chapter 3, Problem 9QC

Chapter 3, Problem 1RQ

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Chapter 3 Solutions

Horngren's Accounting, Student Value Edition (12th Edition)

Ch. 3 - Prob. 1QC Ch. 3 - Get Fit Now gains a client who prepays S540 for a...Ch. 3 - The revenue recognition principle requires...Ch. 3 - Adjusting the accounts is the process of Learning...Ch. 3 - Which of the following is an example of a deferral...Ch. 3 - Assume that the weekly payroll of In the Woods...Ch. 3 - Prob. 7QC Ch. 3 - A equity overstated income statement: expense...Ch. 3 - A worksheet Learning Objective 6 is a journal used...Ch. 3 - On February 1, Clovis Wilson Law Firm contracted...

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