Homework Answers
Solution:
| Journal Entries - Dexter Inc. | |||
| Event | Particulars | Debit | Credit |
| a1 | Accounts receivables Dr | $22,000.00 | |
| To Service revenue | $22,000.00 | ||
| (To record service revenue) | |||
| a2 | Cash Dr | $9,000.00 | |
| To Accounts receivables | $9,000.00 | ||
| (To record collection from customer) | |||
| b1 | Cash Dr | $4,500.00 | |
| To Unearned revenue | $4,500.00 | ||
| (To record advance received from customer) | |||
| b2 | Unearned revenue Dr | $3,000.00 | |
| To Service revenue | $3,000.00 | ||
| (To record the service revenue) | |||
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LO 3 S3-13. (Learning Objective 3: Adjust the accounts for accrued and unearned revenue) Dexter, Inc.,...
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S3-13. (Learning Objective 3: Adjust the accounts for accrued and unearned revenue) Dexter, Inc., collects cash from customers in advance and from other customers after the sale. Journalize the following transactions for Dexter: a. Accrued revenue. Some customers pay Dexter after Dexter has performed the service for the customer. During 2018, Dexter performed services for $22,000 on account and later received cash of $9,000 on account from these customers. b. Unearned revenue. A few customers pay Dexter in advance, and...
Hello could you help me solve this accounting 1 question asap ? The last photo is...
Hello could you help me solve this accounting 1 question asap
?
The last photo is the requirements
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Hello could you help me solve this accounting 1 question asap
?
The last photo is the requirements
Bennington, Inc., collects cash from customers in advance and from other customers after the sale. Read the requirement a. Journalize Bennington earning service revenue of $15,000 on account and then collecting $14,000 on account. (Record debits first, then credits Exclude explanations from any journal entries.) Start by recording Bennington earning $15,000 of service revenue on account. Journi Entry Date Accounts Debit Credit...
please answer boxes
Adjusting Entries for Unearned and Accrued Fees The balance in the unearned fees account, before adjustment at the end of the year, is $110,730. Of these fees, $68,655 have been earned. In addition, $13,290 of fees have been earned but have not been billed. a. Journalize the adjusting entry to adjust the unearned fees account. If an amount box does not require an entry, leave it blank. Unearned Fees Fees Earned ✓ Feedback Check My Work Consider...
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Please explain your answer. Thank you.
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