Homework Answers
| 11 | ||
| Cash | 80000 | |
| Unearned Revenue | 80000 | |
| To record cash received | ||
| Option A is correct | ||
| 12 | ||
| Adjusting entries are prepared at the end of the accounting period. | ||
| Option B is correct | ||
| 13 | ||
| Interest revenue to be accrued | 200 | =10000*12%*2/12 |
| Option C $200 is correct | ||
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TJ Enries 11. You receive $80,000 before you do work for a customer. The journal entry...
7. Which of the following reconciling items does not require a journal entry? a. NSF check...
7. Which of the following reconciling items does not require a journal entry? a. NSF check b. Deposit in transit c. Bank service charge d. Bank collection of note receivable 8. A cash budget helps control cash by a. helping to determine whether additional cash is available for investments or new financing is needed. b. ensuring accurate cash records. c. developing a plan for increasing sales. d. all of the above. 9. Accounts Receivable has a debit balance of $2,400,...
14. The journal entry to accrue interest revenue is..- c. Interest Receivable Interest Revenue a. Cash Interest Rev...
14. The journal entry to accrue interest revenue is..- c. Interest Receivable Interest Revenue a. Cash Interest Revenue То ассrue interest To accrue interest d. Interest Revenue b. Interest Revenue Interest Receivable Cash To accrue interest To accrue interest 15. Your company sells a product for another company and receives a com mission of 10% on sales, By the end of your company's fiscal year, your company had sales of $200,000 and received $8,000, which was credited to Revenue. How...
General Journal entry options: No Journal Entry Required Accounts Payable Accounts Receivable Ac...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
please do a journal entry for a-j. AKA 1-10 then k-p AKA 1-6 NNO Drs. Glenn...
please do a journal entry for a-j. AKA 1-10
then k-p AKA 1-6
NNO Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows: Account Titles Debit Credit Cash $ 6 Accounts Receivable Supplies Equipment Accumulated Depreciation $ 2 Software Accumulated Amortization 3 Accounts Payable Notes Payable (short-term) Salaries and Wages Payable...
Please complete 4-8 with work. Thanks Please provide this journal entry with the amount Moody started...
Please complete 4-8 with work. Thanks
Please provide this
journal entry with the amount
Moody started his own consulting firm, Moody Consulting, on January 1, 2018. The trial balance at January 31, 2018 is shown below. Tric Moody Consulting Trail Balance January 31, 2018 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Furniture Notes Payable Unearned Service Revenue Common Stock Service Revenue Salaries Expense Rent Expense Dividends $5,000 3.000 1,600 2.400 / 21206/12 - 10/monte 9,000/ 6 5 $3,000 2,500...
11) Which of the following entries records the cash payment of an Account Payable? a. debit...
11) Which of the following entries records the cash payment of an Account Payable? a. debit Cash; credit Accounts Payable b. debit Accounts Receivable; credit Cash c. debit Cash; credit Expense d. debit Accounts Payable; credit Cash 12) Haselhof Company purchases equipment for $2,400 and supplies for $700 from Behrman Co. for $3,100 cash. The entry for this transaction will include a a. debit to Equipment $2,400 and a debit to Supplies Expense $700 for Behrman. b. credit to Cash...
43 45 Received $12,000 cash from a customer for services to be provided in the future....
43 45 Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12,000 B. Accounts Receivable 12,000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12.000 D. Unearned Revenue 12,000 Cash 12,000 OB 44 45 Provided $7,000 worth of the services referred to in transaction Q43. Account Name Debit Credit A. Cash 7,000 Accounts Receivable 7,000 B. Accounts Receivable 7,000 Service Revenue 7,000 C. Cash 7,000 Service Revenue...
Lev Pest Control Inc performed $80,000 worth of services in January. As of January 31, $30,000...
Lev Pest Control Inc performed $80,000 worth of services in January. As of January 31, $30,000 had been billed to the customer and the remaining $50,000 was unbilled and would remain so until February. What adjusting journal entry will Lev Pest Control record as of January 31? DR: Revenue, Accounts Receivable, Accrued Revenue, or Unearned Revenue (Amount: 0, 50,000, 30,000, or 80,000) CR: Revenue, Unearned Revenue, Accrued Revenue, or Cash (Amount: 80,000, 0, 30,000, or 50,000)
These transactions took place for Blossom Company 2016 May 1 Received a S 4.300, 12-month, 9%...
These transactions took place for Blossom Company 2016 May 1 Received a S 4.300, 12-month, 9% note in exchange for an outstanding account receivable from R. Stoney Dec. 31 Accrued interest revenue on the R. Stoney note 2017 May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31,2016) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31(Credit account titles are...
ntity G rendered $1,400 of services to a customer on account. The journal entry to record...
ntity G rendered $1,400 of services to a customer on account. The journal entry to record this transaction will include a debit to Cash of $1,400. a debit to Service Revenue of $1,400. a debit to Accounts Receivable of $1,400. a credit to Accounts Payable of $1,400.
7. Which of the following reconciling items does not require a journal entry? a. NSF check b. Deposit in transit c. Bank service charge d. Bank collection of note receivable 8. A cash budget helps control cash by a. helping to determine whether additional cash is available for investments or new financing is needed. b. ensuring accurate cash records. c. developing a plan for increasing sales. d. all of the above. 9. Accounts Receivable has a debit balance of $2,400,...
14. The journal entry to accrue interest revenue is..- c. Interest Receivable Interest Revenue a. Cash Interest Revenue То ассrue interest To accrue interest d. Interest Revenue b. Interest Revenue Interest Receivable Cash To accrue interest To accrue interest 15. Your company sells a product for another company and receives a com mission of 10% on sales, By the end of your company's fiscal year, your company had sales of $200,000 and received $8,000, which was credited to Revenue. How...
General Journal entry options:
No Journal Entry Required
Accounts Payable
Accounts Receivable
Accumulated Amortization
Accumulated Depreciation
Advertising Expense
Amortization Expense
Bad Debt Expense
Buildings
Cash
Common Stock
Copyrights
Cost of Goods Sold
Deferred Revenue
Delivery Expense
Depreciation Expense
Dividends
Dividends Payable
Donation Revenue
Equipment
Franchise Rights
Goodwill
Income Tax Expense
Income Tax Payable
Insurance Expense
Interest Expense
Interest Payable
Interest Receivable
Interest Revenue
Inventory
Land
Legal Expense
Licensing Rights
Logo and Trademarks
Notes Payable (long-term)
Notes Payable (short-term)
Notes Receivable...
please do a journal entry for a-j. AKA 1-10
then k-p AKA 1-6
NNO Drs. Glenn Feltham and David Ambrose began operations of their physical therapy clinic, called Northland Physical Therapy, on January 1, 2017. The annual reporting period ends December 31. The trial balance on January 1, 2018, was as follows: Account Titles Debit Credit Cash $ 6 Accounts Receivable Supplies Equipment Accumulated Depreciation $ 2 Software Accumulated Amortization 3 Accounts Payable Notes Payable (short-term) Salaries and Wages Payable...
Please complete 4-8 with work. Thanks
Please provide this
journal entry with the amount
Moody started his own consulting firm, Moody Consulting, on January 1, 2018. The trial balance at January 31, 2018 is shown below. Tric Moody Consulting Trail Balance January 31, 2018 Cash Accounts Receivable Office Supplies Prepaid Insurance Office Furniture Notes Payable Unearned Service Revenue Common Stock Service Revenue Salaries Expense Rent Expense Dividends $5,000 3.000 1,600 2.400 / 21206/12 - 10/monte 9,000/ 6 5 $3,000 2,500...
43 45 Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12,000 B. Accounts Receivable 12,000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12.000 D. Unearned Revenue 12,000 Cash 12,000 OB 44 45 Provided $7,000 worth of the services referred to in transaction Q43. Account Name Debit Credit A. Cash 7,000 Accounts Receivable 7,000 B. Accounts Receivable 7,000 Service Revenue 7,000 C. Cash 7,000 Service Revenue...
These transactions took place for Blossom Company 2016 May 1 Received a S 4.300, 12-month, 9% note in exchange for an outstanding account receivable from R. Stoney Dec. 31 Accrued interest revenue on the R. Stoney note 2017 May 1 Received principal plus interest on the R. Stoney note. (No interest has been accrued since December 31,2016) Record the transactions in the general journal. The company does not make entries to accrue interest except at December 31(Credit account titles are...
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