[jthetalkingtaco]

In a T Account, I do not know where to place these two problems.

Received cash for progrmming services performed, $500

Received cash for programming services to be performed $600

Thank you

[CaptainForest]

Have you not read my answers to your other 2 posts?

Perhaps you can read them, and then post what you think the solutions to this problem is and I or someone else can correct you if you are wrong.

[mh34]

In a T Account, I do not know where to place these two problems.

Received cash for progrmming services performed, $500

Received cash for programming services to be performed $600

thank you

Just remember that Asset, Drawing and Expense accounts all get increased with debits. All Liability, Revenue, Owners Equity accounts get increased with credits. When you decrease any of these accounts you do the opposite of increasing them. So, if an account is increased with a debit, it is decreased with a credit, and if an account is increased with a credit its decreased with a debit. It might be wise to understand and use the accounting equation when dealing with accounting situations... A=L+OE(RE+PIC)

Well in the first question, you received cash so

Cash is debited for $500 because you are increasing the account

Services were also performed so

Service Revenue is Credited for $500 because you are increasing the account

In the second question you received cash so

Cash is debited for $600

Then it says the cash was received for services not performed yet so

You would creidt Unearned Revenue because since the services were not performed yet, and therefore it's a liability account. The money hasn't been earned. When the services do get performed then the money in the Unearned Revenue account will go into the regular service revenue account.