Receipt of an unearned revenue
a. increases an asset; increases a liability.
b. increases an asset; increases a revenue.
c. decreases a revenue; increase stockholders' equity.
d. decreases a liability; increases stockholders' equity.
Answer: A
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Accounting 2000 Chapter 3
- Which of the following is the correct sequence of events?
- What type of account is unearned revenue?
- What journal entry is recorded as a result of issuing stock to investors for cash?
- Which of the following is not a part of a complete journal entry?
- Accounts with normal credit balances include
- Accounts with normal debit balances include
- Payment of a dividend
- If an expense is paid with cash
- During 2017, Gibson Company assets decreased $50,000 and its liabilities decreased $90,000. Its stockholders' equity
- The effect on the basic accounting equation of performing services for cash are to
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