Question

AAA Consulting Services collected $6,000 cash for services to be provided in the future. Which of...

AAA Consulting Services collected $6,000 cash for services to be provided in the future. Which of the following shows how recognizing the cash receipt will affect the company’s ledger accounts?

A.
Assets = Liabilities + Stockholders’ Equity
Cash +

Prepaid
Rent

 =

Unearned
Revenue

 + Common
Stock		 + Retained
Earnings
6,000 6,000

B.

Assets = Liabilities + Stockholders’ Equity
Cash +

Prepaid
Rent

 =

Unearned
Revenue

 + Common
Stock		 + Retained
Earnings
(6,000) 6,000

C.

Assets = Liabilities + Stockholders’ Equity
Cash + Prepaid
Rent		 = Unearned
Revenue		 + Common
Stock		 + Retained
Earnings
6,000 6,000

D.

Assets = Liabilities + Stockholders’ Equity
Cash +

Prepaid
Rent

 =

Unearned
Revenue

 + Common
Stock		 + Retained
Earnings
6,000 (6,000)
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