基础会计学第三单元课件英文版--精选篇1967.pptVIP

Unearned (Deferred)Revenues On December 26, 2013, FastForward agrees to provide consulting services to a client for a fixed fee of $3,000 for 60 days. On this date, the client pays the entire consulting fee in advance. FastForward makes the following entry: P 1 * Unearned (Deferred)Revenues (d) On December 31, FastForward earns 5-days of consulting fees. Each day that passes results in consulting fees of $50 ($3,000 ÷ 60), so FastForward earned ($50 × 5 days) $250. P 1 * We’re about one-half done with this job and want to be paid forour work! Costs incurred in a period that are both unpaid and unrecorded. Accrued Expenses P 1 * FastForward’s employee earns $70 per day and is paid every two weeks on Friday. Year-end, 12/31/13, falls on a Wednesday. The last payday of 2013 is Friday, 12/26/13. From 12/26 until year-end is three working days. The employee has earned $210 for Monday through Wednesday. He will not be paid until Friday 1/9/14. Accrued Salaries Expenses P 1 * (e) FastForward’s employee has earned but not been paid on December 31, 2013, $210. P 1 Accrued Salaries Expenses * Future Payment ofAccrued Expenses On January 9, 2014, FastForward will pay the payroll for the two weeks from December 26, 2013 through January 9, 2014. Here is the journal entry for the payroll: P 1 * Accrued Interest Expenses FastForward borrowed $6,000 from First National Bank on December 1, 2013. The note bears interest at the annual rate of 6% and is due to be repaid in one year. Let’s accrue interest for the month ended December 31, 2013. P 1 * Yes, I’ve completed yourconsulting job, but have not had time to bill you. Accrued Revenues Revenues earned in a period that are both unrecorded and not yet received. P 1 * Accrued Service Revenue (f) On December 12, 2013, FastForward agrees to render consulting services under a 30-day fixed fee contract for $2,700 ($90 per day). All services are to be completed by January 10, 2014, when the client will pay in full. P 1 * Future R