Question for the years ending june 30 2004 and 2003, Ask an Expert

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Question: For the years ending June 30, 2004 and 2003, Microsoft Corporation reported short-term unearned revenue of $6,514 million and $7,225 million, respectively. For the year ending June 30, 2004, Microsoft also reported total revenues of $36,835 million.

(a) What adjustment for unearned revenue did Microsoft make at June 30, 2004? Indicate each account affected, whether the account is increased or decreased, and the amount of the increase or decrease.

(b) What percentage of total revenues was the adjustment for unearned revenue?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92335961

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