subject
Business, 10.06.2021 20:00 morganruhl2

At the end of the current year, $12,040 of fees have been earned but have not been billed to clients. a. Journalize the adjusting entry to record the accrued fees. If an amount box does not require an entry, leave it blank.
b. If the cash basis rather than the accrual basis had been used, would an adjusting entry have been necessary?

ansver
Answers: 3

Another question on Business

question
Business, 22.06.2019 08:40
The following selected circumstances relate to pending lawsuits for erismus, inc. erismus’s fiscal year ends on december 31. financial statements are issued in march 2019. erismus prepares its financial statements according to u.s. gaap. required: indicate the amount erismus would record as an asset, liability, or not accrued in the following circumstances. 1. erismus is defending against a lawsuit. erismus's management believes the company has a slightly worse than 50/50 chance of eventually prevailing in court, and that if it loses, the judgment will be $1,000,000. 2. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages could fall anywhere in the range of $2,000,000 to $4,000,000, with any damage in that range equally likely. 3. erismus is defending against a lawsuit. erismus's management believes it is probable that the company will lose in court. if it loses, management believes that damages will eventually be $5,000,000, with a present value of $3,500,000. 4. erismus is a plaintiff in a lawsuit. erismus's management believes it is probable that the company eventually will prevail in court, and that if it prevails, the judgment will be $1,000,000. 5. erismus is a plaintiff in a lawsuit. erismus’s management believes it is virtually certain that the company eventually will prevail in court, and that if it prevails, the judgment will be $500,000.
Answers: 1
question
Business, 23.06.2019 00:20
According to the naeyc curriculum is effective when all of the following occur except
Answers: 2
question
Business, 23.06.2019 00:30
Emerson has an associate degree based on the chart below how will his employment opportunities change from 2008 to 2018
Answers: 3
question
Business, 23.06.2019 02:00
Here are the expected cash flows for three projects: cash flows (dollars) project year: 0 1 2 3 4 a − 6,100 + 1,275 + 1,275 + 3,550 0 b − 2,100 0 + 2,100 + 2,550 + 3,550 c − 6,100 + 1,275 + 1,275 + 3,550 + 5,550 a. what is the payback period on each of the projects? b. if you use a cutoff period of 2 years, which projects would you accept?
Answers: 2
You know the right answer?
At the end of the current year, $12,040 of fees have been earned but have not been billed to clients...
Questions
question
Business, 29.10.2020 20:20
question
Mathematics, 29.10.2020 20:20
question
Mathematics, 29.10.2020 20:20
question
Mathematics, 29.10.2020 20:20
Questions on the website: 13722362