subject
Business, 03.12.2019 01:00 Kashawilliams2142

Fly-by-night (fbn) airlines requires all customers to pay for their flight tickets in advance. assume fbn reports unearned service revenue of $50,000 at the beginning of fiscal year 2018. at the end of the year, the unearned service revenue balance is $65,000. if fbn collected cash of $780,000 for advance ticket sales during the year, what amount of sales revenue did it recognize for the year?

ansver
Answers: 1

Another question on Business

question
Business, 02.02.2019 23:40
During the first month of operations, martinson services, inc., completed the following transactions: jan 2 martinson services received $65,000 cash and issued common stock to the stockholders. 3 purchased supplies, $1,000, and equipment, $12,000, on account. 4 performed services for a customer and received cash, $5,500. 7 paid cash to acquire land, $39,000. 11 performed services for a customer and billed the customer, $4,100. martinson expects to collect within one month 16 paid for the equipment purchased january 3 on account. 17 paid for newspaper advertising, $600. 18 received partial payment from customer on account, $2,000. 22 paid the water and electricity bills, $430. 29 received $2,600 cash for servicing the heating unit of a customer. 31 paid employee salary, $2,900. 31 declared and paid dividends of $1,800. requirements 1. record each transaction in the journal. key each transaction by date. explanations are not required. 2. post the transactions to the t-accounts, using transaction dates as posting references. label the ending balance of each account bal, as shown in the chapter. 3. prepare the trial balance of martinson services, inc., at january 31 of the current year. 4. mark martinson, the manager, asks you how much in total resources the business has to work with, how much it owes, and whether january was profitable (and by how much)?
Answers: 1
question
Business, 01.02.2019 06:05
Which law would encourage more people to become homeowners but not encourage risky loans that could end in foreclosure? options: offering first time homebuyers tax-free accounts to save for down payments requiring all mortgages to be more affordable, interest-only loans outlawing home inspections and appraisals by mortgage companies limiting rent increases to less than 2% a year
Answers: 2
question
Business, 31.01.2019 17:30
Aprofessional does specialized work that's primarily: degree based. medical or legal. well paying. intellectual and creative
Answers: 2
question
Business, 29.01.2019 00:40
Astock quote is the price of a stock as quoted on an exchange. a basic quote for a specific stock provides information, such as its bid and ask price, last-traded price and volume traded.
Answers: 1
You know the right answer?
Fly-by-night (fbn) airlines requires all customers to pay for their flight tickets in advance. assum...
Questions
question
Mathematics, 06.05.2020 04:56
Questions on the website: 6675997