A. Use a pie chart in your report to Use the table to answer the follor show exact figures and values visualize a whole unit and the proportions of its components display a process or procedure.

B. An advance payment of $1,000 for services was received on December 1 and was recorded as a liability. By the end of the year, $400 had been earned Demonstrate what the correct adjusting entry should include by choosing the correct statement below. Debit Service revenue for $400. O Debit Unearned revenues for $400. O Debit Unearned revenues for $600. O Credit Unearned revenues for $400.

Sol28:

A. A pie chart is a suitable visual representation to show exact figures and values, visualize a whole unit, and display the proportions of its components. It can also be used to demonstrate a process or procedure. Here is an example of how a pie chart can be used in a report:

Title: Distribution of Sales by Product Category

Description: The pie chart below represents the distribution of sales by different product categories for the year 2022.

[Insert Pie Chart Here]

In this pie chart, each product category is represented by a different colored segment. The size of each segment corresponds to the proportion of sales attributed to that specific category. The exact figures and values can be displayed either within each segment or in a legend accompanying the chart.

By utilizing a pie chart, it becomes easier for the reader to visualize the whole unit (total sales) and understand the relative contributions of each product category. Additionally, a pie chart can effectively convey the process or procedure of how sales are distributed among different categories.

B. The correct adjusting entry in this scenario would be to credit Unearned revenues for $400.

The initial receipt of $1,000 for services on December 1 was recorded as a liability (Unearned revenues) since the services had not been earned yet. However, by the end of the year, $400 of the services had been earned. This means that the company can now recognize that portion of the revenue as earned revenue.

To adjust the accounts, we need to decrease the liability (Unearned revenues) by the amount of revenue that has been earned. Since $400 has been earned, we would credit Unearned revenues for $400.

The adjusting entry would be: Debit Service revenue for $400 Credit Unearned revenues for $400.