WebGoodwill $3,910 Common stock 6,020 Equipment 1,760 Accounts payable 140 Patents 200 Stock investments (long-term) 3,030 Accounts receivable 1,090 Prepaid rent 230 Debt investments (short-term) 1,150 Retained earnings 5,900 Cash 2,030 Notes payable (long-term) 710 Unearned sales revenue 380 Accumulated depreciation-equipment 250 Prepare … WebUnearned Revenue Warranty Payable Inventory Show transcribed image text Expert Answer 100% (1 rating) Solution Account … View the full answer Transcribed image text: Your company sells cars with a 3-year warranty. You sell one car on December 31 and expect to spend $900 in warranty repairs over the next three years.

Difference Between Accounts Payable and Unearned Revenue

WebCommon current liabilities include accounts payable, unearned revenues, the current portion of a note payable, and taxes payable. Each of these liabilities is current because it results … WebJan 12, 2024 · The unearned ESOP shares account represents the shares—at historical cost—that are held as collateral for the internal loan (a loan between the company and the ESOP). Within the ESOP, these shares are held in a suspense account, which means the shares are not yet allocated to employee accounts. daltile distribution

Unearned Revenue: What It Is, How It Is Recorded and …

WebUnearned revenue As far as unearned revenueis concerned, it can be seen that it is mainly defined as the amount that has been collected from the customer, but in return for the … WebUnearned revenue is the number of advance payments which the company has received for the goods or services which are still pending for the delivery and includes transactions … Weba) Unearned revenues refer to income reported on the income statement. b) Unearned revenues refer to cash received in advance of providing a service or product. c) Unearned … daltile distribution center dallas