Ending account receivable = Beginning account receivable+Service revenue-Cash collected
= 65000+13800-17400
Ending account receivable = 61400
So answer is e) $61400
r 17 At the beginning of January of the current year, M y Cateringe on account...
At the beginning of January of the current year, Little Mikey's Catering ledger reflected a normal balance of $52,000 for accounts receivable. During January, the company collected $14,800 from customers on account and provided additional services to customers on account totaling $12,500 Additionally, during January one customer paid Mikey $5,000 for services to be provided in the future. At the end of January, the balance in the accounts receivable account should be: Multiple Choice $49,300 $54,700 $49.700 $2,300
Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $24,900 6,300 4,200 61,000 $ 4,300 76,000 16,100 $96,400 $96,400 During January 2021, the following transactions occur. January 2 Purchase rental space for one year in advance, $9,300 ($775/month). January 9 Purchase additional supplies on account, $4,600. January 13 Provide services to customers on account, $26,600. January 17...
Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,400 5,800 3,700 56,000 $ 3,800 71,000 15,100 $ 89,900 $ 89,900 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $ 7,800 ($650/month). January 9 Purchase additional supplies on account, $4,100. January 13 Provide services to customers on...
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Accounts Debit Credit Cash $ 25,500 Accounts Receivable 6,900 Supplies 4,800 Land 67,000 Accounts Payable $ 4,900 Common Stock 82,000 Retained Earnings 17,300 Totals $ 104,200 $ 104,200 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $11,100 ($925/month). January 9 Purchase additional supplies on account, $5,200. January 13 Provide services to customers on account, $27,200. January...
Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,400 5,800 3,700 56,000 $ 3,800 71,000 15, 100 $ 89,900 $ 89,900 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $7,800 ($650/month). January 9 Purchase additional supplies on account, $4,100. January 13 Provide services to customers on...
On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 25,280 6,600 4,500 64,000 ok $ 4,600 79,000 16,700 $100, 300 nt $100,300 ences During January 2021, the following transactions occur January 2 Purchase rental space for one year in advance, $10,200 ($850/month). January 9 Purchase additional supplies on account, $4,900. January 13 Provide services to customers on account,...
Required information On January 1, 2021, the general ledger of Dynamite Fireworks includes the following account balances: Credit Accounts Cash Accounts Receivable Supplies Land Accounts Payable Common Stock Retained Earnings Totals Debit $ 24,400 5,800 3,700 56,000 $ 3,800 71,000 15, 100 $ 89,900 $ 89,900 During January 2021, the following transactions occur: January 2 Purchase rental space for one year in advance, $7,800 ($650/month). January 9 Purchase additional supplies on account, $4,100. January 13 Provide services to customers on...
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable $2,500 Interest receivable 20 Accounts receivable 4,740 Note receivable, due October 31, 2018 4,000 Accumulated depreciation—equipment 2,030 Retained earnings 6,040 Cash 5,520 Salaries payable 1,460 Common shares 12,000 Supplies 1,030 Equipment 10,100 Unearned revenue 1,380 During August, the following summary transactions were completed. Aug. 1 Paid $440 cash for advertising in local newspapers....
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable $2,500 Interest receivable 20 Accounts receivable 4,740 Note receivable, due October 31, 2018 4,000 Accumulated depreciation—equipment 2,030 Retained earnings 6,040 Cash 5,520 Salaries payable 1,460 Common shares 12,000 Supplies 1,030 Equipment 10,100 Unearned revenue 1,380 During August, the following summary transactions were completed. Aug. 1 Paid $440 cash for advertising in local newspapers....
On August 1, 2018, the beginning of its current fiscal year, the following opening account balances, listed in alphabetical order, were reported by Tobique Ltd. Accounts payable $2,500 Interest receivable 20 Accounts receivable 4,740 Note receivable, due October 31, 2018 4,000 Accumulated depreciation—equipment 2,030 Retained earnings 6,040 Cash 5,520 Salaries payable 1,460 Common shares 12,000 Supplies 1,030 Equipment 10,100 Unearned revenue 1,380 During August, the following summary transactions were completed. Aug. 1 Paid $440 cash for advertising in local newspapers....