Homework Answers
| Date | Account | Debit | Credit |
| Dec 31 | Accounts Receivable | 4800 | |
| Service Revenue | 4800 |
(7200*2/3)
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c. Sentry operates several buses that provide transportation for the clients of a social service agency...
Instructions Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full...
Instructions Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Sentry engaged in the following activities during the current year: a. Sentry received $5,000 cash in advance from Rich's Department Store for an estimated 250 deliveries during December 2019 and January and February of 2020. The entire amount was recorded as unearned revenue when received. During December 2019, 110 deliveries were made for Rich's. b. Sentry operates several small buses...
Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range...
Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Sentry engaged in the following activities during the current year: a. Sentry received $5,000 cash in advance from Rich's Department Store for an estimated 250 deliveries during December 2019 and January and February of 2020. The entire amount was recorded as unearned revenue when received. During December 2019, 110 deliveries were made for Rich's. b. Sentry operates several small buses that...
Century Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range...
Century Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Century engaged in the activities below during the current year: Required: 1. Prepare adjusting entries at December 31 for these four activities. If no entry is required, select "No entry required" for all accounts and leave associated amount boxes blank a. Century received $3,500 cash in advance from Rob's Department Store for an estimated 175 deliveries during December 2019 and January...
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to...
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. • The Board of Trustees requires that Tri-County maintain a minimum cash balance of $7,000. • If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $7,000 minimum. • It is anticipated that the year will begin with an $10,000 cash balance. • Contract revenue is...
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to...
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. The Board of Trustees requires that Tri-County maintain a minimum cash balance of $11,000. If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $11,000 minimum. It is anticipated that the year will begin with an $14,000 cash balance. Contract revenue is received evenly during the...
Fifth Cousin Media (FCM) provides social media marketing and consultation services for its clients. The following...
Fifth Cousin Media (FCM) provides social media marketing and consultation services for its clients. The following transactions occurred in December 2017. Transactions up to November 30 have been correctly recorded unless otherwise specified. On February 3, 2017, FCM signed an agreement with Deion Sanders to provide media consulting for his football camp. On December 1, FCM completed some of the work for Sanders, and issued an invoice for $15,000. Full payment was received on January 15, 2018. Note: the project...
Exercise 2-12 a-b The T-accounts below summarize the ledger of Negrete Landscaping Company at the end...
Exercise 2-12 a-b The T-accounts below summarize the ledger of Negrete Landscaping Company at the end of the first month of operations. 4/1 4/12 4/29 4/30 4/7 4/4 Cash No. 101 14,000 4/15 1,300 900 4/25 1,500 400 1,000 Accounts Receivable No. 112 3,000 4/29 400 Supplies No. 126 1,800 Accounts Payable No. 201 1,500 4/4 1,800 Unearned Service Revenue No. 209 4/30 1,000 Owner's Capital No. 301 4/1 14,000 Service Revenue No. 400 4/7 3,000 4/12 900 Salaries and...
Instructions Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Sentry engaged in the following activities during the current year: a. Sentry received $5,000 cash in advance from Rich's Department Store for an estimated 250 deliveries during December 2019 and January and February of 2020. The entire amount was recorded as unearned revenue when received. During December 2019, 110 deliveries were made for Rich's. b. Sentry operates several small buses...
Sentry Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Sentry engaged in the following activities during the current year: a. Sentry received $5,000 cash in advance from Rich's Department Store for an estimated 250 deliveries during December 2019 and January and February of 2020. The entire amount was recorded as unearned revenue when received. During December 2019, 110 deliveries were made for Rich's. b. Sentry operates several small buses that...
Century Transport Inc. of Atlanta provides in-town parcel delivery services in addition to a full range of passenger services. Century engaged in the activities below during the current year: Required: 1. Prepare adjusting entries at December 31 for these four activities. If no entry is required, select "No entry required" for all accounts and leave associated amount boxes blank a. Century received $3,500 cash in advance from Rob's Department Store for an estimated 175 deliveries during December 2019 and January...
Tri-County Social Service Agency is a not-for-profit organization in the Midwest. Use the following information to complete the cash budget for the year ending December 31. • The Board of Trustees requires that Tri-County maintain a minimum cash balance of $7,000. • If cash is short, the agency may borrow from an endowment fund the amount required to maintain the $7,000 minimum. • It is anticipated that the year will begin with an $10,000 cash balance. • Contract revenue is...
Exercise 2-12 a-b The T-accounts below summarize the ledger of Negrete Landscaping Company at the end of the first month of operations. 4/1 4/12 4/29 4/30 4/7 4/4 Cash No. 101 14,000 4/15 1,300 900 4/25 1,500 400 1,000 Accounts Receivable No. 112 3,000 4/29 400 Supplies No. 126 1,800 Accounts Payable No. 201 1,500 4/4 1,800 Unearned Service Revenue No. 209 4/30 1,000 Owner's Capital No. 301 4/1 14,000 Service Revenue No. 400 4/7 3,000 4/12 900 Salaries and...
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