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When payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
When a large marketing company contracts with a payroll service to company employee checks for them they are?
outsourcing
What happens when a service is rendered on credit?
When a service is rendered on credit, the provider delivers the service without immediate payment, creating an accounts receivable. This means the customer is obligated to pay at a later date, impacting the provider's cash flow. The transaction is recorded as revenue for the service provider, but until payment is received, it remains a potential risk of non-collection. Additionally, this can affect the financial statements by increasing both assets and revenue.
Are you responsible for a bill you received a year after service?
YES ...
Are fees received but not yet earned an Accrued Revenue?
No, fees received but not yet earned are not classified as accrued revenue; they are considered unearned revenue or deferred revenue. Accrued revenue refers to income that has been earned but not yet received in cash or recorded. In contrast, unearned revenue represents cash received before the service is performed or the goods are delivered. Thus, these two concepts reflect different stages of the revenue recognition process.
When was Federal Service for Defence Contracts created?
Federal Service for Defence Contracts was created in 2003.
How can I get my own service contracts for my small business?
You can get your own service contracts for your small business at www.businessformsstore.com. Another good website is smallbusiness.yahoo.com › Legal › Independent Contractors
Are extended warranties available on all Chrysler service contracts?
If one wants an extended warranty on a Chrysler service contract there are no problems. All service contracts do have this availability and one can choose from a wide variety of providers.
What is the minimum service for the Canadian force?
Contracts vary from soldier to soldier, however for a regular force soldier, contracts can typically be from 3 to 8 years of service. Reserve Force personnel are on voluntary service and can leave whenever they wish.
What does Xerox Corporation exchange its copiers and service contracts for?
Xerox Corporation exchanges its copiers and service contracts for money, or the promise to pay money in the future. Sometimes they also exchange for a valued service or product. That is called a barter exchange.
How do you find available commercial landscape maintenance contracts?
It can be somewhat difficult to find commercial landscape maintenance contracts. However, by advertising, you could gain some contracts from inbound leads. Another option is to join a supply chain of landscaping companies and gain service contracts by being a part of a larger service network.
Who insures firearm collections?
Do a web search. Many companies offer the service.
What is the best answer of Does your company offer a service contract on this product?
Yes, we have one of the best service contracts in the industry.
Which act requires government contractors performing service contracts to compensate their service employees fairly and equitably?
The Service Contract Act (SCA) requires government contractors performing service contracts to compensate their service employees fairly and equitably. This act mandates that contractors pay their service employees no less than the prevailing wage rates and benefits determined by the Department of Labor for similar work in the area. The SCA aims to ensure that workers are compensated appropriately for their labor on federal service contracts.
Are contracts with no date of service voidable?
no, they are subject to the 'reasonable person test'
What is a widely used service on the Internet consists of a worldwide collections of electronic documents?
Web.
What are three types of credit?
1 Liberal on credit/conservative(tight) on collections 2 Moderate on credit/moderate on collections 3 Conservative(tight) on credit/liberal on collections
