Precious Stone Works is a commercial property marble installation company that operates from April to October each
Question:
Precious Stone Works is a commercial property marble installation company that operates from April to October each year. The company prebooks customers one year in advance. Customers must pay at the time of booking and the balance on the completion or delivery of the project.
The October balance sheet shows Unearned Revenue GL # totaling $ representing the deposit on a project to be delivered later this month.
On October they delivered their project and received the balance of payment for the work.
On October they received as a prepayment for a new project to be done in
Required a: Prepare the entries required in October Compute the balance in the Unearned Revenue account as of October
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann