Homework Answers
| date | accounts | debit | credit |
| 21 | Accounts receivable a/c | 58,000 | |
| cash a/c | 37,000 | ||
| ................To Service revenue a/c | 95,000 | ||
accounts receivable will be debited for service revenue rendered on account.
Add Answer to:
Requirement 3. Journalze the eaming of service revenue: 58,000 on account and then an additional S37,000...
help with requirement two Requirement 2. AT-account for Retained Eaming has been set up for you....
help
with requirement two
Requirement 2. AT-account for Retained Eaming has been set up for you. Post to the account. The colate Whiteglove's net income for the year anded January 31, 2016. What is the ending balance of Retained Earnings? Post the beginning balance and closing is to Retained ning in the account by selecting the respective posting references and then entering the correct amounts. Determine the ending balance Retained Eaming 13000 Beginning balance 13000 51900 Ending balance 51900 The...
The worksheet of Best Jobs Employment Service follows but is incomplete. Click the icon the view...
The worksheet of Best Jobs Employment Service follows but is incomplete. Click the icon the view the worksheet.) The following data at April 30, 2024 are given for Best Jobs Employment Service: Click the icon to view the additional information) Read the requirements April 30, 2024 Unadjusted Trial Balance Adjustments Account Names Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Cash $ 1,100 4,100 Accounts Receivable 1,200 32,700 Office Supplies Equipment Accumulated Depreciation Equipment Salaries Payable $ 13,900 Common...
5 total journal entries Requirement 1a. Joumalize Allegheny Tire's inventory transactions for the year under the...
5
total journal entries
Requirement 1a. Joumalize Allegheny Tire's inventory transactions for the year under the perpetual system (Record debits first, then credits. Explanations are not required. Show all amounts in thousands) The first transaction is the purchase of inventory. Record the entry Debit December The next transaction is the sale of Inventory. Record the entry. (Do not yet record the cost related to the sale. We do this in the next journal entry) Journal Entry Date Accounts Debit Credit...
Requirement 1. Record the AprilApril transactions in the journal. Include an explanation for each entry. (Record...
Requirement 1. Record the
AprilApril
transactions in the journal. Include an explanation for each
entry. (Record debits first, then credits. Select the explanations
on the last line of the journal entry table. Check your spelling
carefully and do not abbreviate. When applicable, use only the
account names provided in the trial balance.)
Apr.Apr.
Requirement 1. Record the April transactions in the journal. Include an explanation for each entry. (Record debits first, then credits. Select the explanations on the last line...
Patricia Santos, Certified Public Accountant, operates as a professional corporation, (P.C). The business completed these transactions...
Patricia Santos, Certified Public Accountant, operates as a professional corporation, (P.C). The business completed these transactions during the first part of August 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Aug 2: Received $7,000 cash from Santos, and issued common stock to her. Journal Entry Date Accounts Debit Credit Aug 2 Aug 2: Paid monthly office rent, $600...
QUESTION ANSWER On February 1, Complete Computer Service earned $2,200 of service revenue on account. Date...
QUESTION ANSWER On February 1, Complete Computer Service earned $2,200 of service revenue on account. Date Feb. 1 Accounts Service Revenue Accounts Receivable Debit Credit 2,200 2,200 The journal entry to record this transaction would be: Date Accounts Feb. 1 Accounts Receivable Service Revenue Debit Credit 2,200 2,200 Date Accounts Feb. 1 Service Revenue Cash Debit Credit 2,200 2,200 Date Accounts Feb. 1 Cash Service Revenue Debit Credit 2,200 2,200
1/ Account with a normal credit balance includ: (select all that apply) a- accont receivable b-...
1/
Account with a normal credit balance includ: (select all that
apply)
a- accont receivable
b- allowance for uncollectible accounts
c-bad dept expense
d-cash
e- sale revenue
2/
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10,n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for...
Requirement 1. Record each transaction in the journal, using the following account titles: Cash; Accounts Receivable;...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
Problem 3-3 Revenue recognition over time and at a point in time under ASC Topic 606...
Problem 3-3 Revenue recognition over time and at a point in time under ASC Topic 606 (LO3-4) MSK Construction Company contracted to construct a factory building for $525,000. Construction started during 2019 and was completed in 2020. Information relating to the contract follows: 2020 $150,000 Costs incurred during the year Estimated additional cost to complete Billings during the year Cash collections during the year 2019 $290,000 145,000 260,000 240,000 265,000 285,000 Required: 1. Record the preceding transactions in MSK's books...
help
with requirement two
Requirement 2. AT-account for Retained Eaming has been set up for you. Post to the account. The colate Whiteglove's net income for the year anded January 31, 2016. What is the ending balance of Retained Earnings? Post the beginning balance and closing is to Retained ning in the account by selecting the respective posting references and then entering the correct amounts. Determine the ending balance Retained Eaming 13000 Beginning balance 13000 51900 Ending balance 51900 The...
The worksheet of Best Jobs Employment Service follows but is incomplete. Click the icon the view the worksheet.) The following data at April 30, 2024 are given for Best Jobs Employment Service: Click the icon to view the additional information) Read the requirements April 30, 2024 Unadjusted Trial Balance Adjustments Account Names Debit Credit Debit Credit Adjusted Trial Balance Debit Credit Cash $ 1,100 4,100 Accounts Receivable 1,200 32,700 Office Supplies Equipment Accumulated Depreciation Equipment Salaries Payable $ 13,900 Common...
5
total journal entries
Requirement 1a. Joumalize Allegheny Tire's inventory transactions for the year under the perpetual system (Record debits first, then credits. Explanations are not required. Show all amounts in thousands) The first transaction is the purchase of inventory. Record the entry Debit December The next transaction is the sale of Inventory. Record the entry. (Do not yet record the cost related to the sale. We do this in the next journal entry) Journal Entry Date Accounts Debit Credit...
Requirement 1. Record the
AprilApril
transactions in the journal. Include an explanation for each
entry. (Record debits first, then credits. Select the explanations
on the last line of the journal entry table. Check your spelling
carefully and do not abbreviate. When applicable, use only the
account names provided in the trial balance.)
Apr.Apr.
Requirement 1. Record the April transactions in the journal. Include an explanation for each entry. (Record debits first, then credits. Select the explanations on the last line...
Patricia Santos, Certified Public Accountant, operates as a professional corporation, (P.C). The business completed these transactions during the first part of August 2018: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries.) Aug 2: Received $7,000 cash from Santos, and issued common stock to her. Journal Entry Date Accounts Debit Credit Aug 2 Aug 2: Paid monthly office rent, $600...
QUESTION ANSWER On February 1, Complete Computer Service earned $2,200 of service revenue on account. Date Feb. 1 Accounts Service Revenue Accounts Receivable Debit Credit 2,200 2,200 The journal entry to record this transaction would be: Date Accounts Feb. 1 Accounts Receivable Service Revenue Debit Credit 2,200 2,200 Date Accounts Feb. 1 Service Revenue Cash Debit Credit 2,200 2,200 Date Accounts Feb. 1 Cash Service Revenue Debit Credit 2,200 2,200
1/
Account with a normal credit balance includ: (select all that
apply)
a- accont receivable
b- allowance for uncollectible accounts
c-bad dept expense
d-cash
e- sale revenue
2/
On March 12, Medical Waste Services provides services on account to Grace Hospital for $11,000, terms 2/10,n/30. Grace pays for those services on March 20. Required: For Medical Waste Services, record the service on account on March 12 and the collection of cash on March 20. (If no entry is required for...
Requirement 1. Record each transaction in the journal, using
the following account titles: Cash; Accounts Receivable; Office
Supplies; Prepaid Insurance; Land; Building; Furniture; Accounts
Payable; Utilities Payable; Notes Payable; Common Stock;
Dividends; Service Revenue; Salaries Expense; Rent Expense; and
Utilities Expense. Explanations are not required. (Record debits
first, then credits. Exclude explanations from journal
entries.)
Requirement 2. The following four-column accounts have been
opened: Cash, 101; Accounts Receivable, 111; Office Supplies,
121; Prepaid Insurance, 131; Land, 141; Building, 151;
Furniture,...
a. Performed $8,200 of services on account. b. Collected $5,600 cash on accounts receivable. c. Paid $1,450 cash in advance for an insurance policy. d. Paid $400 on accounts payable. e. Recorded the adjusting entry to recognize $300 of insurance expense. f. Received $1,600 cash for services to be performed at a later date. g. Purchased land for $9,000 cash. h. Purchased supplies for $350 cash. Required Record each of the above transactions in general journal form and then show...
Problem 3-3 Revenue recognition over time and at a point in time under ASC Topic 606 (LO3-4) MSK Construction Company contracted to construct a factory building for $525,000. Construction started during 2019 and was completed in 2020. Information relating to the contract follows: 2020 $150,000 Costs incurred during the year Estimated additional cost to complete Billings during the year Cash collections during the year 2019 $290,000 145,000 260,000 240,000 265,000 285,000 Required: 1. Record the preceding transactions in MSK's books...
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