On January 1,Unearned Revenue of Grossman Company Had a Beginning

question 150

True/False

On January 1,Unearned Revenue of Grossman Company had a beginning balance of $1,400.During January,the company earned $700 of the deferred revenue.The company also collected $4,000 from a new customer for services to be performed the following month.At the end of January,the Unearned Revenue account should have a balance of $4,000.

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Definitions:

Dominant Alleles

Dominant alleles are versions of genes that produce a dominant trait which will express itself in the phenotype, even when only one copy is present.

Monozygotic Twins

Identical twins that originate from a single fertilized egg, splitting and developing into two embryos.

Dizygotic Twins

Also known as fraternal twins, are two siblings born at the same time as a result of two different eggs being fertilized by two different sperm cells, sharing 50% of their DNA.

Zygote

The initial cell formed when a sperm fertilizes an egg, representing the earliest stage of embryonic development.