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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
The accounting records for Patricia Event Planning Services include the following select unadjusted balances on December 31, 2016: Salaries Expense, $6,000; Service Revenue: $19,000; Unearned Revenue, $400; Supplies Expense, $600; Rent Expense, $300; Depreciation ExpenseEquipment, $200.

During December, the company worked with a new client and provided event planning services for an upcoming event. It will receive the full amount of $2,400 when the event is completed in January 2017. As of the end of December 2016, it performed one-third of the services covered by the contract. The company made the accrual adjustments. The balance of Service Revenue, as shown on the adjusted trial balance, should be a ________.
A) credit balance of $19,800
B) credit balance of $19,000
C) debit balance of $21,400
D) debit balance of $2,400
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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SAved me during finals, thanks : )
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Gagaga
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