Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. e3-11 adjustment for unearned revenue for a recent

E3-11 Adjustment for unearned revenue For a recent year, Microsoft Corporation (MSFT) reported short-term unearned...

50.1K

Verified Solution

Question

Accounting

image
E3-11 Adjustment for unearned revenue For a recent year, Microsoft Corporation (MSFT) reported short-term unearned revenue of $34,102 million. For the same year, Microsoft also reported total revenues of $89,950 million. a. Assuming that Microsoft recognized $4,000 million of unearned revenue as revenue during the year, what entry for unearned revenue did Microsoft make during the year? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease. b. What percentage of total revenues is the short-term unearned revenue? Round to one decimal place

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students