Homework Answers
| Account title | Debit | Credit |
| Cash | $10,200 | |
| Deferred revenue | $10,200 |
Hence option Debit cash $10,200, Credit deferred revenue $10,200 is correct.
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On July 7, Saints Inc. received $10,200 in cash from a customer for services to be...
43 45 Received $12,000 cash from a customer for services to be provided in the future....
43 45 Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12,000 B. Accounts Receivable 12,000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12.000 D. Unearned Revenue 12,000 Cash 12,000 OB 44 45 Provided $7,000 worth of the services referred to in transaction Q43. Account Name Debit Credit A. Cash 7,000 Accounts Receivable 7,000 B. Accounts Receivable 7,000 Service Revenue 7,000 C. Cash 7,000 Service Revenue...
Question 43 4 pts Received $12,000 cash from a customer for services to be provided in...
Question 43 4 pts Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12.000 B. Accounts Receivable 12.000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12,000 12,000 D. Unearned Revenue Cash 12,000 Answer A O Answer B O Answer O Answer D None of the answers are correct. Question 44 4 pts Provided $7.000 worth of the services referred to in transaction Q43. Account Name Debit...
Multiple choice. Herschel Inc. provided lanscaping services to $5,600. The customer was billed for the services....
Multiple choice. Herschel Inc. provided lanscaping services to $5,600. The customer was billed for the services. What journal entry should Herschel Inc. record? A) Debit Accounts Receivable 5,600; Credit Landscaping Revenue 5,600 B) Debit Cash 5,600; Credit Landscaping Revenue 5,600 C) Credit Landscaping Revenue 5,600; Debit Accounts Receivable 5,600 D) Debit Landscaping Revenue 5,600; Credit Cash 5,600
Summer Leasing received $10,200 for 24 months rent in advance. How should Summer record this transaction?...
Summer Leasing received $10,200 for 24 months rent in advance. How should Summer record this transaction? Multiple Choice Debit rent expense; credit cash ) Debit cash; credit deferred revenue Debit cash; credit service revenue Debit prepaid rent; credit rent expense
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Debit Accounts Receivable Debit Accounts Payable Debit Cash Credit Accounts Payable Debit Service Revenue Debit Deferred Revenue Credit Service Revenue Credit Deferred Revenue Credit Cash Credit Accounts Receivable
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account....
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Credit Cash Credit Deferred Revenue Debit Service Revenue Credit Service Revenue Debit Accounts Payable Credit Accounts Payable Debit Accounts Receivable Credit Accounts Receivable Debit Cash Debit Deferred Revenue 4.75 pts
Summer Leasing received $11,600 from a customer to cover 24 months of rent in advance. How...
Summer Leasing received $11,600 from a customer to cover 24 months of rent in advance. How should Summer record this transaction? Multiple Choice Debit Cash; credit Service Revenue Debit Cash; credit Deferred Revenue Debit Rent Expense; credit Cash Debit Prepaid Rent; credit Rent Expense
The following transactions occurred during July: 1. Received $900 cash for services provided to a customer...
The following transactions occurred during July:1. Received $900 cash for services provided to a customer during July.2. Received $2,200 cash investment from Bob Johnson, the owner of the business.3. Received $750 from a customer in partial payment of his account receivable which arose from sales in June.4. Provided services to a customer on credit, $375.5. Borrowed $6,000 from the bank by signing a promissory note.6. Received $1,250 cash from a customer for services to be performed next year.What was the...
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Debit Service Revenue Debit Accounts Receivable Credit Service Revenue Credit Cash Credit Accounts Receivable Debit Accounts Payable Credit Deferred Revenue Debit Cash Credit Accounts Payable
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Credit Cash Credit Accounts Receivable Debit Service Revenue Credit Deferred Revenue Credit Accounts Payable Debit Accounts Payable Debit Accounts Receivable Credit Service Revenue Debit Cash
43 45 Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12,000 B. Accounts Receivable 12,000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12.000 D. Unearned Revenue 12,000 Cash 12,000 OB 44 45 Provided $7,000 worth of the services referred to in transaction Q43. Account Name Debit Credit A. Cash 7,000 Accounts Receivable 7,000 B. Accounts Receivable 7,000 Service Revenue 7,000 C. Cash 7,000 Service Revenue...
Question 43 4 pts Received $12,000 cash from a customer for services to be provided in the future. Account Name Debit Credit A. Cash 12,000 Accounts Receivable 12.000 B. Accounts Receivable 12.000 Cash 12,000 C. Cash 12,000 Unearned Revenue 12,000 12,000 D. Unearned Revenue Cash 12,000 Answer A O Answer B O Answer O Answer D None of the answers are correct. Question 44 4 pts Provided $7.000 worth of the services referred to in transaction Q43. Account Name Debit...
Summer Leasing received $10,200 for 24 months rent in advance. How should Summer record this transaction? Multiple Choice Debit rent expense; credit cash ) Debit cash; credit deferred revenue Debit cash; credit service revenue Debit prepaid rent; credit rent expense
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Debit Accounts Receivable Debit Accounts Payable Debit Cash Credit Accounts Payable Debit Service Revenue Debit Deferred Revenue Credit Service Revenue Credit Deferred Revenue Credit Cash Credit Accounts Receivable
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Credit Cash Credit Deferred Revenue Debit Service Revenue Credit Service Revenue Debit Accounts Payable Credit Accounts Payable Debit Accounts Receivable Credit Accounts Receivable Debit Cash Debit Deferred Revenue 4.75 pts
Summer Leasing received $11,600 from a customer to cover 24 months of rent in advance. How should Summer record this transaction? Multiple Choice Debit Cash; credit Service Revenue Debit Cash; credit Deferred Revenue Debit Rent Expense; credit Cash Debit Prepaid Rent; credit Rent Expense
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Debit Service Revenue Debit Accounts Receivable Credit Service Revenue Credit Cash Credit Accounts Receivable Debit Accounts Payable Credit Deferred Revenue Debit Cash Credit Accounts Payable
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