Solved

Pattie's Event Planning Service Has Just Prepared the Unadjusted Trial

Question 110

Multiple Choice

Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances: Pattie's Event Planning Service has just prepared the unadjusted trial balance, which shows the following balances:   Late in this month, she began working with a new client, providing event planning services for an upcoming event. When the event is complete, in the following month, she will collect the full amount of $900 from her client. As of the end of this month, she has rendered one-third of the services covered by the contract. She makes accrual adjustments monthly. The final adjusted balance of Service revenues, as shown on the adjusted trial balance, should be a: A) debit balance of $300. B) credit balance of $3,900. C) debit balance of $3,300. D) credit balance of $3,300. Late in this month, she began working with a new client, providing event planning services for an upcoming event. When the event is complete, in the following month, she will collect the full amount of $900 from her client. As of the end of this month, she has rendered one-third of the services covered by the contract. She makes accrual adjustments monthly. The final adjusted balance of Service revenues, as shown on the adjusted trial balance, should be a:


A) debit balance of $300.
B) credit balance of $3,900.
C) debit balance of $3,300.
D) credit balance of $3,300.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions