Homework Answers
Calculation of net income for October using the cash basis of accounting:
Cash in - Cash out : $3900 - $1,300 = $2,600
Calculation of net income for October using the Accrual basis of accounting:
Revenue incurred - incurred expenses (regardless if paid) : $7,800 - $1,300 = $6,500.
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Jim's Gymnastics Training's operations for the month of October are summarized as follows: A Provided $7,800...
Please answer Question 1 lof 10 Save & Ex Sutmit Time remalning: 428:40 Jim's Gymnastics Training's...
Please answer
Question 1 lof 10 Save & Ex Sutmit Time remalning: 428:40 Jim's Gymnastics Training's oparations for the month of Octobar are summaized as follaws: A Provicod S, A00 of training to studants an account B Racelved 3,500 cash from studants for training proavided in Ctaber C.Recelved $1,700 cash for training to be provided in November D.Received 54,000 cash from students on account for training provided in September E.Paid September's gym rental bill on account in the ainount of...
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Daube Company's operations for the month of July are summarized as follows: A. Provided $8,000 of services on account. B. Received $3,800 cash from customers for services provided in July. C. Received $1,600 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,000. E. Received July's warehouse rental bill of $1,100; set it aside to be...
Daube Company's operations for the month of July are summarized as follows: A. Provided $7,600 of...
Daube Company's operations for the month of July are summarized as follows: A. Provided $7,600 of services on account. B. Received $3,700 cash from customers for services provided in July. C. Received $1,900 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,500; set it aside to be...
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Melody's Piano School operations for the month of May were limited to the following transactions: • Provided $650 of piano lessons to students who paid in cash. Provided $500 of piano lessons on account. • Collected $375 from students who took piano lessons during April. Paid April's piano rental bill of $250. • Received May's piano rental bill of $300 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for...
QUESTION 13 Bonnie's Piano School operations for the month of May were limited to the following...
QUESTION 13 Bonnie's Piano School operations for the month of May were limited to the following transactions: Provided $800 of piano lessons to students who paid in cash. Provided $200 of piano lessons on account. Collected $600 from students who took piano lessons during April. Paid April's piano rental bill of $200. Received May's piano rental bill of $300 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for May?...
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Please answer
Question 1 lof 10 Save & Ex Sutmit Time remalning: 428:40 Jim's Gymnastics Training's oparations for the month of Octobar are summaized as follaws: A Provicod S, A00 of training to studants an account B Racelved 3,500 cash from studants for training proavided in Ctaber C.Recelved $1,700 cash for training to be provided in November D.Received 54,000 cash from students on account for training provided in September E.Paid September's gym rental bill on account in the ainount of...
Daube Company's operations for the month of July are summarized as follows: A. Provided $7,800 of services on account B. Received $3,100 cash from customers for services provided in July C. Received $1,000 cash for services to be provided in August. D. Received $5,700 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,200; set it aside to be...
Daube Company's operations for the month of July are summarized as follows: A. Provided $8,000 of services on account. B. Received $3,800 cash from customers for services provided in July. C. Received $1,600 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,000. E. Received July's warehouse rental bill of $1,100; set it aside to be...
Daube Company's operations for the month of July are summarized as follows: A. Provided $7,600 of services on account. B. Received $3,700 cash from customers for services provided in July. C. Received $1,900 cash for services to be provided in August. D. Received $3,200 cash from customers on account for services provided in June. E. Paid June's warehouse rental bill on account in the amount of $1,400. F. Received July's warehouse rental bill of $1,500; set it aside to be...
Melody's Piano School operations for the month of May were limited to the following transactions: • Provided $650 of piano lessons to students who paid in cash. Provided $500 of piano lessons on account. • Collected $375 from students who took piano lessons during April. Paid April's piano rental bill of $250. • Received May's piano rental bill of $300 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for...
QUESTION 13 Bonnie's Piano School operations for the month of May were limited to the following transactions: Provided $800 of piano lessons to students who paid in cash. Provided $200 of piano lessons on account. Collected $600 from students who took piano lessons during April. Paid April's piano rental bill of $200. Received May's piano rental bill of $300 and set it aside for payment in June. Assuming the company uses accrual basis accounting, what is net income for May?...
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