Metro Event Planning Services collects fees from its customers in advance. On January​ 1, 2019, the balance of its Unearned Revenue account was $ 6,000 ​(CR). During January and​ February, the company collected $ 2,000 and $600 as advance fees. During the twominusmonth ​period, it performed services of $ 5,500 related to the deferred revenue. What is the balance in Unearned Revenue at the end of​ February?


a. debit balance of $3000

b. debit balance of $200

c. credit balance of $200

d. credit balance of $3000

Answer:

d. credit balance of $3000

Explanation:

Unearned Revenue is a liability and hence a Credit Balance Account. Unearned Revenue occurs when a firm receives cash for services not yet performed. As the service is performed, the account will be reduced to the extent of those services performed as shown below :

Unearned Revenue Account

Beginning Balance                                                                 $6,000 ​

Add Collected in advance during the year (2,000 + 600)   $2,600

Less Services Performed                                                      ($5,000)

Ending Balance                                                                       $3,100

Conclusion :

This is closest to d. credit balance of $3000

Which of these is most closely associated with an economic recession? *
1.an increase in stock prices
2.an increase in consumer spending
3.a decrease in the demand for labor
4.a decrease in the minimum wage

Which statement best describes a recession?

A. More people are unemployed, causing more competition for jobs.
B. The prices of goods make them too expensive for people to buy them easily.
C. People cannot afford to buy goods because competition leads to higher prices.
D. A large number of people are unemployed and have decreased spending power.

Complete the following statement.
This
Adrian is attending a marketing conference and seems quite bored with the sequence of events, so he is
1. Slouching I. His chair
2. Leaning forward
3. Crossing his arms
This kind of gesture is an example of
1. Nonverbal
2.verbal

communication.

Which business letter feature is found at the top of the page?

Which metric measures the customers willingness to recommend the clients product and services to others

Additional Information Check No. 5904 is correctly drawn for $2,090 to pay for computer equipment; however, the recordkeeper misread the amount and entered it in the accounting records with a debit to Computer Equipment and a credit to Cash of $2,060. The NSF check shown in the statement was originally received from a customer, S. Nilson, in payment of her account. Its return has not yet been recorded by the company. The credit memorandum (CM) is from the collection of a $1,500 note for Chavez Company by the bank. The bank deducted a $15 collection expense. The collection and expense are not yet recorded.

The game hides the amount of cookies-per-second a new "vendor" (the grandmothers, the cookie farm, the mines, etc.) will grant you until you have purchased your first unit of that upgrade. How did that affect your strategy? How is that similar or different from what real businesses confront when creating a business plan?

what is the importance of identifying target markets?​