Use This Information to Answer the Following Question If Services Totaling $125 Had Been Performed but Not Billed,the

question 219

Multiple Choice

Use this information to answer the following question.
The trial balance for Tsung Corporation appears as follows:
$\begin{array}{c}\text {Tsung Corporation}\\\text {Trial Balance}\\\text {December 31, 2010}\\\begin{array}{|l|r|r|}\hline \text { Cash } & \$ 200 \\\text { Accounts Receivable } & 500 \\\text { Prepaid Insurance } & 50 \\\text { Supplies } & 150 \\\text { Office Equipment } & 400\\\text { Accumulated Depreciation-Office Equipment } & & \$ 200 \\\text { Accounts Payable } & & 300 \\\text { Common Stock } & & 600 \\\text { Service Revenue Earned } &&500 \\\text { Salaries Expense } & 100 \\\text { Rent Expense } &200 \\& \$ 1.600 & \$ 1.600\\\hline\end{array}\end{array}$

If services totaling $125 had been performed but not billed,the adjusting entry to record this would include a

• A) credit to Unearned Service Revenue for $125.
• B) debit to Service Revenue Earned for $125.
• C) credit to Service Revenue Earned for $125.
• D) credit to Service Revenue Earned for $625.

Understand and apply the management approach to identify reportable operating segments.

Calculate taxes under varying tax rates and understand legislative impacts on tax calculations.

Analyze financial performance and health through cash flow ratios and turnover metrics.

Understand the differences between segment disclosures required by IFRS and GAAP.

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Definitions:

Organized Crime

A category of transnational, national, or local groupings of highly centralized enterprises run by criminals who intend to engage in illegal activity, most commonly for profit.

Jazz

A music genre originating in the African-American communities of New Orleans, USA, in the late 19th and early 20th centuries, known for its distinctive rhythm, improvisation, and use of brass and woodwind instruments.

Art Form

A medium through which artists express their emotions, thoughts, or ideas, including painting, sculpture, music, dance, and more.

Motion Pictures

A series of still images projected in quick succession to create the illusion of moving images; synonymous with films or movies.