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NEW QUESTION: 1
Sparten, Inc., a plumbing contractor, received a check for $3,000 on June 30 for services to be performed in the following fiscal month. During the July accounting period, Sparten completed all but $500 of the job.
What adjusting entry needs to be made at the end of July?
A. increase Cash and Revenue for $3,000
B. debit Unearned Revenue and credit Revenue for $2,500
C. increase Unearned Revenue and decrease Cash for $500
D. decrease Accounts Receivable and increase Revenue for $2,500
Answer: B
Explanation:
Explanation/Reference:
Explanation:
When the check was received on June 30, a liability was established for $3,000 because revenue could not be recognized until it was earned. During July, $2,500 of revenue was earned and should be recognized, along with a reduction (debit) to the Unearned Revenue account.
NEW QUESTION: 2
The basic header length of IPv6 packets is a fixed value.
A. True
B. False
Answer: A
NEW QUESTION: 3
You are configuring a Dynamics 365 Finance environment for intercompany accounting. You create the following legal entities:
* CompanyA
* CompanyB
You need to configure intercompany accounting for both legal entities.
Which three actions should you perform in sequence? To answer, move the appropriate actions from the list of actions to the answer area and arrange them in the correct order.
NOTE: More than one order of answer choices is correct. You will receive credit for any of the correct orders you select.
Answer:
Explanation:
Explanation
Reference:
https://docs.microsoft.com/en-us/dynamics365/finance/general-ledger/intercompany-accounting-setup