ACCOUNTINGSHEEEEET

ACCOUNTINGSHEEEEET - Sam Cummings Financial Accounting...

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Unformatted text preview: Sam Cummings Financial Accounting Homework 3 E3-44B (I cant find the Euro Symbol, assume all units are in Euro) 1a. 2010 year: Dr Cash 400 Cr Unearned Revenue 400 Direct will collect 400 in rev. to provide phone service to customers in advance. b. 2010 end: Dr Unearned Revenue 295 Cr. Service Revenue 295 Record unearned revenue that has been earned during the whole year. 2.) 2010 year: Dr Cash- 400 Cr Unearned Revenue 400 2010 end: Dr Unearned Revenue 390 Cr Service Revenue 390 The income state will show a 390 in service renevue. E3-48B a) The debt ratio will be harmed because of an increase of .05. The current ratio will be harmed by a decrease of .22. b) Current Ratio will be harmed, but the debt ratio will be improved. c) The current ration will be harmed, and the debt ratio will be harmed. d) The current ratio will be harmed, and the debt ratio will be harmed also. e) The current ratio will be harmed, but the debt ratio will be improved....
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This note was uploaded on 11/30/2010 for the course ACCY 110 taught by Professor Christopherjones during the Spring '10 term at GWU.

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ACCOUNTINGSHEEEEET - Sam Cummings Financial Accounting...

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