Spafford Services, Inc. provides services to clients. On May 1, a client prepaid Spafford Services $83,000 for 6-months services in advance. Spafforc Services' general journal entry to record this transaction will include a: Multiple Choice

A. Credit to Uneamed Management Fees for $83,000.
B. Debit to Management Fees Earned for $83.000.
C. Credit to Management Fees Earned for $83,000
D. Debit to Unearned Management Fees for $83.000
E. Credt to Cash for $83,000. 30 of 30

A. Credit to Unearned Management Fees for $83,000.

Explanation:

When an amount is received in advance for a service yet to be rendered, the company recognizes a liability by debiting cash account and crediting unearned revenue.

As the service is performed and revenue is earned, debit unearned revenue and credit service revenue.

In this instance , the liability account is the unearned management fees. As such, the amount received is posted there as a credit entry.

answerthat 50% of all cases go to trial;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.