Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. on november 1, 2018, gabriel received $8,400 for s

On November 1, 2018, Gabriel received $8,400 for services to be rendered over the next 6...

60.1K

Verified Solution

Question

Accounting

On November 1, 2018, Gabriel received $8,400 for services to berendered over the next 6 months and recorded it as DeferredRevenue. Record the adjusting entry at Dec. 31, 2018.

Answer & Explanation Solved by verified expert
4.5 Ratings (817 Votes)
Hey there Here we have to record accounting entry for Deferred Revenue First of all Deferred revenue is an amount that is received by an entity in advance even before the services are provided    See Answer
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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Transcribed Image Text

On November 1, 2018, Gabriel received $8,400 for services to berendered over the next 6 months and recorded it as DeferredRevenue. Record the adjusting entry at Dec. 31, 2018.

Other questions asked by students

Q

ording to police sources a car with a certain protection system will be recovered 92...

Statistics
Q

In #29-32, use the following information. Use a 0.025 level of significance to test the claim...

Statistics
Q

What are the phases of Meiosis? -                                                                                              .                                                                                                                                                                                                        .                                                                                                                                                                                                                                                       Describe independent assortment of chromosomes.__________________________________                                                                                                                                                                                                                                        What is crossing over?                                                                                                         .                                                                                                                                                                                                                                                                                                     . What is the biological significance...

Biology
Q

1. Give a Real-life example of inferential statistics that will clearly identify your target population; how...

Basic Math
Q

Which of the following is true about vascular plants?they conduct water and solutes to different...

Biology
Q

8 If y A x 1 x 1 D then dy OT du dx x...

Calculus
Q

Last month when Holiday Creations, Inc., sold 40,000 units, total sales were $288,000, total variable...

Accounting
Q

The City of Wolfe has issued its financial statements for Year 4 (assume...

Accounting
Q

Dorsey Company manufactures three products from a common input in a joint processing operation. Joint...

Accounting
Q

Kenworth Company uses a job-order costing system. Only three jobs-Job 105, Job 106, and Job...

Accounting
Q

2. Using the information from Part 1, along with an analysis of the remaining balance...

Accounting
Q

Jorgensen High Tech Inc. is a calendar-year, accrual-method taxpayer. At the end of year 1,...

Accounting