a &d windows cleaning performed 450 of service but has not yet billed customers for the...
a &d windows cleaning performed 450 of service but has not yet billed customers for the month. if a& d fails to record the adjusting entry. what is the impact on the financial statements.
Homework Answers
| balance sheet: assets understated, equity understated income statement: revenues understated | |
| Accounts Recivables - Assets - Understated | $480 |
| Revenues - Income Statement - Understated | $480 |
| Since Revenue understated the net income (equity ) wlll also be understated |
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a &d windows cleaning performed 450 of service but
has not yet billed customers for the...
a. As of December 31, Greavy had performed $500 of service revenue but has not yet...
a. As of December 31, Greavy had performed $500 of service revenue but has not yet billed customers. At the end of the month, Greavy had $700 of office supplies remaining. c. Prepaid Insurance of $3,900 remained. d. Depreciation expense, $4,000. e. Accrued salaries expense of $200 that hasn't been paid yet. Unadjusted Trial Balance Debit Credit Adjusted Trial Balance Adjustments Account Names Debit Credit | Debit Credit Cash 4,300 5,900 1,900 4,550 30,000 7,600 3,600 Accounts Receivable Office Supplies...
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QUESTIONS In February, Dr. Noonan performed $8,000 of services for clients. The clients have not been billed yet. W...
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Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during...
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Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during...
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S3-12 (similar to) Question Help At the end of June, Galant Dental had performed $6,000 of...
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X Company is a service company and prepares monthly financial statements. In April, it billed customers...
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X Company is a service company and prepares monthly financial statements. In April, it billed customers...
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a. As of December 31, Greavy had performed $500 of service revenue but has not yet billed customers. At the end of the month, Greavy had $700 of office supplies remaining. c. Prepaid Insurance of $3,900 remained. d. Depreciation expense, $4,000. e. Accrued salaries expense of $200 that hasn't been paid yet. Unadjusted Trial Balance Debit Credit Adjusted Trial Balance Adjustments Account Names Debit Credit | Debit Credit Cash 4,300 5,900 1,900 4,550 30,000 7,600 3,600 Accounts Receivable Office Supplies...
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Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
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S3-12 (similar to) Question Help At the end of June, Galant Dental had performed $6,000 of dental services but has not yet billed customers. Record the adjusting entry for accrued revenue. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit June 30
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