Question: On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000

On November 1st, Secure Home Security Systems has a beginning balance

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring services to the client over the next 3 months. What is the balance in the deferred revenue account on December 31st after the required adjusting entry

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Alex was in his friend Allison's home drinking straight vodka and doing drugs. Alex told Allison that he has not taken his prescribed mental health medications for two weeks. This did not concern...

Q:

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring...

Q:

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring...

Q:

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12.000 from a client to provide security monitoring...

Q:

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring...

Q:

On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring...

Q:

Question 18 4.75 pts On November 1st, Secure Home Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to...

Q:

Question 26 4.75 pts The Highest Cost Contractors, Inc, took out an installment loan on 11/1 in the amount of $12.000 for 62 months with an annual interest rate of 4%. On 11/30, when Highest Cost...

Q:

At Walmart, a $0.51 per share cash dividend was declared by the board of directors for it common stock. On 12/31, the date of declaration, there were 78,000 shares authorized, 68,000 shares issued,...

Q:

On October 1st, Safe Touch Security Systems has a beginning balance of $0.00 in their deferred revenue account before they receive an advance of $12,000 from a client to provide security monitoring...

Q:

Question 20 4.5 pts KHS&R Contractors took out an installment loan on 1/1 in the amount of $12,000 for 71 months with an annual interest rate of 5%. On 1/31, when KHS&R makes their first monthly...

Q:

A capacitor has two parallel plates with area A separated by a distance d. The space between plates is filled with a material having dielectric constant K. The material is not a perfect insulator but...

Q:

What is fraudulent financial reporting? What are the two key concepts in the definition of fraudulent financial reporting?

Q:

Find the critical points for f ( x ) = 4 x 2 - 5 x - 1 1 .

Q:

Consider a vertical plane in a constant gravitational field. Let the origin of a coordinate system be located at some point in this plane. A particle of mass m moves in the vertical plane under the...

Q:

Two blocks, each of mass M, are connected by an extension less, uniform string of length l. One block is placed on a smooth horizontal surface, and the other block hangs over the side, the string...

Q:

A particle moves in a plane under the influence of a force f = Ara-1 directed toward the origin; A and a (> 0) are constants. Choose appropriate generalized coordinates, and let the potential energy...

Q:

A particle of mass m is constrained to move on the surface of a sphere of radius R by ab applied force F (, ). Write the equation of motion.

Q:

A double pendulum consists of two simple pendula, with on pendulum suspended from the bob of the other. If the two pendula have equal lengths and have bobs of equal mass and if both pendula are...

Q:

Explain in detail companys challenges in maintaining inventories globally especially during pandemic COVID 19 and how collaboration among trading partners will help the overall inventory management...

Q:

2. Provide new information and before 20 seconds have elapsed, add more infor-mation. The initial information will then be lost from memory for most people.

Q:

7. What is the extent (percentage) of errors detected in the information collected?

Q:

8. What are the costs of collecting the information?