law help: A law firm received $2,000 cash for legal services to be rendered in the future. - Help.com

SassyR3604
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Montgomery, AL, US

A law firm received $2,000 cash for legal services to be rendered in the future.

The full amount was credited to the liability account Unearned Service Revenue. If the legal services have been rendered at the end of the accounting period and no adjusting entry is made, this would cause
(A) expense to be overstated
(B) net income to be overatsted
(c) liabilities to be understated
(d) rvenues to be understated

This open post was written 1 year, 10 months ago | V/U/S: 119, 0, 1 | Edit Post | Leave a reply | Report Post


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law, Accountancy, Accounting period, service, Quantity, Law firm, income, Period, Liability, Revenue (How Tags Affect Reciprocity)

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