No. | Account titles and Explanation | Debit | Credit |
1 | Cash | 8,200 | |
Accounts Receivable | 8,200 | ||
2 | Unearned Service Revenue | 24,800 | |
Service Revenue | 24,800 | ||
3 (a) | Cash | 37,000 | |
Unearned Service Revenue | 37,000 | ||
3 (b) | Unearned Service Revenue | 20,000 | |
Service Revenue | 20,000 | ||
(37,000 - 17,000) | |||
4 | Accounts Receivable | 145,000 | |
Service Revenue | 145,000 | ||
(165,000 - 20000) | |||
5 | Cash | 131,000 | |
Accounts Receivable | 131,000 | ||
(145,000 - 14,000) | |||
The following data are taken from the comparative statement of narcial position of Newman Billiards Club...
The following data are taken from the comparative statement of financial position of Newman Billiards Club Ltd., which prepares its financial statements using the accrual basis of accounting December 31 2020 2019 Accounts receivable from members £13,600 £9,900 Unearned service revenue 16,300 25,700 Members are billed based upon their use of the club's facilities. Unearned service revenues arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2020 income statement for...
The following data are taken from the comparative statement of financial position of Newman Billiards Club Ltd, which prepares its financial statements using the accrual basis of accounting. December 31 2020 2019 Accounts receivable from members £13,600 £9,900 Unearned service revenue 16,300 25,700 Members are billed based upon their use of the club's facilities. Unearned service revenues arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2020 income statement for...
The following data are taken from the comparative balance sheets of Cascade Billiards Club, which prepares its financial statements using the accrual basis of accounting. December 31 2015 2014 Accounts receivable from members $14,206 $ 8,523 Unearned service revenue 16,751 24,010 Members are billed based upon their use of the club’s facilities. Unearned service revenues arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2015 income statement for the club...
NEXT FULL SCREEN PRINTER VERSION BACK The following data are taken from the comparative balance sheets of Bundies Billiards Club, which prepares its financial statements using the accrual basis of accounting. December 31 2017 2016 8,000 24,200 $13,800 Accounts receivable from members Unearned service revenue 6,300 Members are billed based upon their use of the club's facilities. Unearned service revenues arise from the sale of gift certificates, which members can apply to their future use of club facilities. The 2017...
Determine the amount of cash received by the club, with respect to member services, during 2020. Prepare journal entries for each of the following events that took place during 2020. (Hint: You will probably find it helpful to use T-accounts to analyze these data.) (1) (2) (3) Accounts receivable from 2019 were all collected. Gift certificates outstanding at the end of 2019 were all redeemed. (a) An additional $39,000 worth of gift certificates were sold during 2020. (b) A portion...
The following selected data are taken from the comparative financial statements of Cullumber Curling Club. The club prepares its financial statements using the accrual basis of accounting. September 30 2022 2021 Accounts receivable for member dues $18,900 $10,400 Unearned sales revenue 19,500 25,000 Service revenue (from member dues) 144,100 135,300 Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game. (Hint:...
The following selected data are taken from the comparative financial statements of Sheridan Curling Club. The club prepares its financial statements using the accrual basis of accounting. September 30 Accounts receivable for member dues Unearned sales revenue Service revenue (from member dues) 2022 $18,600 19,900 144,400 2021 $10,000 26,200 130,500 Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game. (Hint:...
The following selected data are taken from the comparative financial statements of Sunland Curling Club. The club prepares its financial statements using the accrual basis of accounting. September 30 2022 2021 Accounts receivable for member dues $17,800 $12,300 Unearned sales revenue 19,200 27,800 Service revenue (from member dues) 144,000 136,900 Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game. (Hint:...
Problem 4-1A (Part Level Submission) The following selected data are taken from the comparative financial statements of Yankee Curling Club. The club prepares its financial statements using the accrual accounting. September 30 Accounts receivable for member dues 2017 $15,000 20,000 151,000 2016 $19,000 23,000 135,000 Unearned sales revenue Service revenue (from member dues) Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such as the...
Problem 4-1A (Part Level Submission) The following selected data are taken from the comparative financial statements of Yankee Curling Club. The club prepares its financial statements using the accrual basis of accounting. September 30 Accounts receivable for member dues Unearned sales revenue Service revenue (from member dues) 2017 $19,200 20,800 141,900 2016 $11,200 25,600 134,200 Dues are billed to members based upon their use of the club's facilities. Unearned sales revenues arise from the sale of tickets to events, such...