Homework Answers
| Cash account | |||||
| Date | Explanation | Ref no. | Debit | Credit | Balance |
| May 12 | accounts receivables | 2220 | 2220 | ||
| May 15 | Service Revenue | 3260 | 5480 | ||
| Accounts recivables | |||||
| Date | Explanation | Ref no. | Debit | Credit | Balance |
| May 5 | service revenue | 5410 | 5410 | ||
| May 12 | Cash | 2220 | 3190 | ||
| Service revenue | |||||
| Date | Explanation | Ref no. | Debit | Credit | Balance |
| May 5 | accounts receivables | 5410 | 5410 | ||
| May 15 | Cash | 3260 | 8670 | ||
Add Answer to:
S,410 5,410 2,220 12 Cash 3,260 3,260 15 Cash Service Revenue form of a
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S....
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return2018 OMB No. 1545-0074 IRS Use Only Filing status: Single Your first name and initial Patty Your standard deduction: None Your social security number 466-33-1234 Last name Banyan If joint return, spouse's first name and initial Last name Spouse's social security number Full-year health care coverage or exempt (see inst.) Spouse standard deduction: None Home address (number and street). If you...
Under accrual accounting, revenue is recorded: (a) when the service is provided and cash has been...
Under accrual accounting, revenue is recorded: (a) when the service is provided and cash has been received (b) when cash is received without regard to when the service is provided (c) when the service is provided and collection of cash is reasonably certain
Selected transactions for Sunland Company are presented below in journal form (without explanations). Date Account Title...
Selected transactions for Sunland Company are presented below in journal form (without explanations). Date Account Title Debit Credit May 5 Accounts Receivable 4,660 Service Revenue 4,660 12 Cash 1,400 Accounts Receivable 1,400 15 Cash 1,530 Service Revenue 1,530 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.) Cash Accounts Receivable Service Revenue
what is the correct input for the service revenue and retained earnings for close entries? And...
what is the correct input for
the service revenue and retained earnings for close entries? And
explain please
Credits Debits $ 26,100 16,900 15,000 163,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,200 7,300 158,000 47,500 $221,000 $221,000 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $149, 100, and on account, $59,700. 2. February 12 Collect on accounts receivable,...
28. A liquidation must be reported to the Internal Revenue Service on Form 966 A within...
28. A liquidation must be reported to the Internal Revenue Service on Form 966 A within 60 days of the adoption of a plan of liquidation. B) that is filed with the national IRS office. C) whether the shareholders' realized gain is recognized or not. D) by the shareholders.
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000;...
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000; Cr. Accounts Receivable 1000 B. Dr. Accounts Receivable 1000; Cr. Cash 1000 C. Dr. Cash 1000; Cr. Accounts Receivable 1000 D. Dr. Accounts Receivable 1000; Cr. Service Revenue 1000 E. None of the above
I need help to Journalize the March transactions. The Triquel records admission revenue as service revenue,...
I need help to Journalize the March transactions. The Triquel records admission revenue as service revenue, concession revenue as rent revenue, and film rental expense as rent expense. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) HERE IS THE INFORMATION TO HELP MAKE THE JOURNAL ENTRY...
Question 4 of 4 $45,840 $45,840 The October transactions were as follows. Oct. 5 10 15...
Question 4 of 4 $45,840 $45,840 The October transactions were as follows. Oct. 5 10 15 17 20 Received $1,440 in cash from customers for accounts receivable due. Billed customers for services performed $5,850. Paid employee salaries $1,080. Performed $560 of services in exchange for cash. Paid $1,890 to creditors for accounts payable due. Paid a $310 cash dividend. Paid utilities $410. 29 31 (a) Your answer is correct. Question 4 of 4 2.76/6 E Date Debit Account Titles and...
Current Attempt in Progress Selected transactions for the Pharoah Company are presented in journal form below....
Current Attempt in Progress Selected transactions for the Pharoah Company are presented in journal form below. J1 Credit Ref. Debit Date May 5 6,000 6,000 12 1,470 Account Titles and Explanation Accounts Receivable Service Revenue (Billed for services performed) Cash Accounts Receivable (Received cash in payment of account) Cash Service Revenue (Received cash for services performed) 1,470 15 3,940 3,940 Post the transactions to T-accounts. Make one T-account for each item and determine each account's ending balance. (Post entries in...
SERVICE REVENUE CONTRACT - 22 POINTS On April 1, 2020 Top Notch Service, Inc enters into...
SERVICE REVENUE CONTRACT - 22 POINTS On April 1, 2020 Top Notch Service, Inc enters into a 2 year contract with Demanding Customer, Inc whereby Top Notch will provide services to Demanding Customer at a rate of $20,000 per month. The contract term is from April 1, 2020 through March 31, 2022. On April 1, 2020 Demanding Customer gives Top Notch $140,000 towards the contract. Assume no other payments are made and the monthly services are being performed as agreed...
Form 1040 Complete Patty's Form 1040 Form Department of the Treasury-Internal Revenue Service (99) 1040 U.S. Individual Income Tax Return2018 OMB No. 1545-0074 IRS Use Only Filing status: Single Your first name and initial Patty Your standard deduction: None Your social security number 466-33-1234 Last name Banyan If joint return, spouse's first name and initial Last name Spouse's social security number Full-year health care coverage or exempt (see inst.) Spouse standard deduction: None Home address (number and street). If you...
Selected transactions for Sunland Company are presented below in journal form (without explanations). Date Account Title Debit Credit May 5 Accounts Receivable 4,660 Service Revenue 4,660 12 Cash 1,400 Accounts Receivable 1,400 15 Cash 1,530 Service Revenue 1,530 Post the transactions to T-accounts. (Post entries in the order of journal entries presented in the question.) Cash Accounts Receivable Service Revenue
what is the correct input for
the service revenue and retained earnings for close entries? And
explain please
Credits Debits $ 26,100 16,900 15,000 163,000 Accounts Cash Accounts Receivable Prepaid Insurance Land Accounts Payable Deferred Revenue Common Stock Retained Earnings Totals $ 8,200 7,300 158,000 47,500 $221,000 $221,000 The following is a summary of the transactions for the year: 1. January 9 Provide storage services for cash, $149, 100, and on account, $59,700. 2. February 12 Collect on accounts receivable,...
17. The company collected cash from a customer on account $1,000. A. Dr. Service Revenue .000; Cr. Accounts Receivable 1000 B. Dr. Accounts Receivable 1000; Cr. Cash 1000 C. Dr. Cash 1000; Cr. Accounts Receivable 1000 D. Dr. Accounts Receivable 1000; Cr. Service Revenue 1000 E. None of the above
Question 4 of 4 $45,840 $45,840 The October transactions were as follows. Oct. 5 10 15 17 20 Received $1,440 in cash from customers for accounts receivable due. Billed customers for services performed $5,850. Paid employee salaries $1,080. Performed $560 of services in exchange for cash. Paid $1,890 to creditors for accounts payable due. Paid a $310 cash dividend. Paid utilities $410. 29 31 (a) Your answer is correct. Question 4 of 4 2.76/6 E Date Debit Account Titles and...
Current Attempt in Progress Selected transactions for the Pharoah Company are presented in journal form below. J1 Credit Ref. Debit Date May 5 6,000 6,000 12 1,470 Account Titles and Explanation Accounts Receivable Service Revenue (Billed for services performed) Cash Accounts Receivable (Received cash in payment of account) Cash Service Revenue (Received cash for services performed) 1,470 15 3,940 3,940 Post the transactions to T-accounts. Make one T-account for each item and determine each account's ending balance. (Post entries in...
SERVICE REVENUE CONTRACT - 22 POINTS On April 1, 2020 Top Notch Service, Inc enters into a 2 year contract with Demanding Customer, Inc whereby Top Notch will provide services to Demanding Customer at a rate of $20,000 per month. The contract term is from April 1, 2020 through March 31, 2022. On April 1, 2020 Demanding Customer gives Top Notch $140,000 towards the contract. Assume no other payments are made and the monthly services are being performed as agreed...
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