Question

Need these answered asap please. Also need breakdown on how you got answer please. Thank you.

1. Extreme Sports sold 2,610 monthly subscriptions at $23 each for services provided during February. $14,230 was collected in cash and the rest was sold on account. What is the credit to Service Revenue?

2. Accounts Receivable began with a balance of $808 , the account had credits of $1,333 and debits of $942. The ending balance of accounts receivable is $____

3. The following information was reported in the December 31, 2018, financial statements of Ava, Inc. (listed alphabetically). Accounts Payable $1,178 Cash 3,677 Dividends 540 Fuel Expense 709 Interest Expense 308 Notes Payable 1,803 Retained Earnings (as of January 1, 2018 356 Service revenue 6,055 Supplies 211 Based on this list of accounts, what are the total liabilities?

4. EBN Sports operates a game facility. They offer monthly memberships for and also offer guest passes for nonmembers. They also sell gift cards and offer concession snacks and drinks. During the month of February, EBN Sports had the following activities take place. • Received $7,122 cash from customers for membership services that had been earned and billed in January. • Received $6,271 cash from customers for concession snacks and drinks earned in February. • Received $2,198 cash from Andeavor as an advance on a company party to be held in March. What is the total net increase to assets in February?

5.

(a) If cash is $7,438, accounts receivable is $13,032,notes payable is $6,218, common stock is $2,638 how much is stockholder's equity?_____________

(b)The account "Notes Payable" is classified as what type of account?

Answer 1

1. Extreme Sports

Credit to Service Revenue = 2610 x $23 = $60030

2. Ending balance of Accounts Receivable = Beginning balance + Debits - Credits = $808 + $942 - $1333 = $417

3. Ava Inc.

Total liabilities = Accounts payable + Notes payable = $1178 + $1803 = $2981

4. EBN Sports

Total net increase to assets: $8469

	Increase (decrease) to Assets
Received cash for services billed and earned in January:
Cash….Dr.	7122
Accounts receivable	-7122
Received cash for concession snacks and drinks earned in February:
Cash….Dr.	6271
Revenue	NE
Cash received as an advance
Cash….Dr.	2198
Advance from customers	NE
Total net increase to assets $	8469

Per HOMEWORKLIB RULES the first 4 questions have been answered. Please post the remaining separately. Thank you.