Homework Answers
| Answer | |||
| Journal entry | |||
| Date | Account Titles and Explanations | Debit | Credit |
| 01-Jun | Cash | $ 72,000 | |
| To, Unearned Subscription revenue | $ 72,000 | ||
| (To record collection in advance) | |||
| 31-Dec | Unearned Subscription revenue ($72,000 /12months * 4 months) | $ 24,000 | |
| To, Subscription revenue | $ 24,000 | ||
| (To record earned Subscription revenue ) | |||
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Chapter 11
1).
On August 1, Cooking Fun Magazine collected cash of $72,000 on future annual...
S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000 on future...
S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000 on future annual subscrip! tions starting on July 1. Requirements 1. Journalize the transaction to record the collection of cash on June 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the neares whole dollar.)
ve 1 S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000...
ve 1 S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000 on future annual suhe tions starting on July 1. Requirements 1. Journalize the transaction to record the collection of cash on June 1. 2. Journalize the transaction required at December 31, the magazine's year-end. assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.)
Question Help On August 1, 2018, Salem Landscaping collected $18,000 in advance from customers for landscaping...
Question Help On August 1, 2018, Salem Landscaping collected $18,000 in advance from customers for landscaping services. The service revenue will be eamed monthly over the 12-month period ending July 31, 2019 Requirements 1. Journalize the entry on August 1 by using the altermative treatment of deferred revenues 2, Record the December 31, 2018 adjusting entry Requirement 1. Journalize the entry on August 1 by using the altemativo treatment of deferred revenues. (Record debils fest, then oredits. Seloct the explanation...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from cust...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 ea...
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 each. On August 31, Shepherd sold 40 bicycles for $99 each. Requirements Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. 2. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. 1. Requirement 1. Prepare Shepherd Cycle's perpetual inventory record assuming the company...
Please answer in same format. The company use aidS6 Oo sale On August the state. 0,...
Please answer in same format.
The company use aidS6 Oo sale On August the state. 0, Hanley om any recorded sales of merchandise inventory on account, 54 e sa s ere su e to saes ax o 0 the perpetua inventory system n eptember 0 Hane to 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state. Record debits first,...
Northern Magazine collects cash from subscribers in advance and then mails the magazines to subscribers over...
Northern Magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period Read the Requirement 1. Record the journal entry to record the original receipt of $130,000 cash (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit 1. Record the journal entry to record the original receipt of $130,000 cash 2. Record the adjusting entry that Northern Magazine makes...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales tax of 4% collected for the state of New Jersey. Apr. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $210,000, plus sales tax of 4% collected for the state of...
S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000 on future annual subscrip! tions starting on July 1. Requirements 1. Journalize the transaction to record the collection of cash on June 1. 2. Journalize the transaction required at December 31, the magazine's year-end, assuming no revenue earned has been recorded. (Round adjustment to the neares whole dollar.)
ve 1 S11-3 Recording unearned revenue On June 1, Hunting Man Magazine collected cash of $63,000 on future annual suhe tions starting on July 1. Requirements 1. Journalize the transaction to record the collection of cash on June 1. 2. Journalize the transaction required at December 31, the magazine's year-end. assuming no revenue earned has been recorded. (Round adjustment to the nearest whole dollar.)
Question Help On August 1, 2018, Salem Landscaping collected $18,000 in advance from customers for landscaping services. The service revenue will be eamed monthly over the 12-month period ending July 31, 2019 Requirements 1. Journalize the entry on August 1 by using the altermative treatment of deferred revenues 2, Record the December 31, 2018 adjusting entry Requirement 1. Journalize the entry on August 1 by using the altemativo treatment of deferred revenues. (Record debils fest, then oredits. Seloct the explanation...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Data Table a. The August 31 bank balance is $5,180. b. The bank statement includes two charges for NSF checks from customers. One is for $440 (#1), and the other is for $140 (#2). c. The following Wollaston Healthcare checks are outstanding at August 31: Check No. 237 Amount $ 90 288 140 291 550 294 630 295 50 296 50 d. Wollaston collects from a few customers by EFT. The August bank statement lists a $1,600 EFT deposit for...
Shepherd Cycles started August with 25 bicycles that cost $65 each. On August 16, Shepherd bought 50 bicycles at $80 each. On August 31, Shepherd sold 40 bicycles for $99 each. Requirements Prepare Shepherd Cycle's perpetual inventory record assuming the company uses the LIFO inventory costing method. 2. Journalize the August 16 purchase of merchandise inventory on account and the August 31 sale of merchandise inventory on account. 1. Requirement 1. Prepare Shepherd Cycle's perpetual inventory record assuming the company...
Please answer in same format.
The company use aidS6 Oo sale On August the state. 0, Hanley om any recorded sales of merchandise inventory on account, 54 e sa s ere su e to saes ax o 0 the perpetua inventory system n eptember 0 Hane to 1. Journalize the transaction to record the sale on August 10. Ignore cost of goods sold. 2. Journalize the transaction to record the payment of sales tax to the state. Record debits first,...
Northern Magazine collects cash from subscribers in advance and then mails the magazines to subscribers over a one-year period Read the Requirement 1. Record the journal entry to record the original receipt of $130,000 cash (Record debits first, then credits Select the explanation on the last line of the journal entry table) Date Accounts and Explanation Debit Credit 1. Record the journal entry to record the original receipt of $130,000 cash 2. Record the adjusting entry that Northern Magazine makes...
Consider the following transactions of Oyster Software: Mar. 31 Recorded cash sales of $210,000, plus sales tax of 4% collected for the state of New Jersey. Apr. 6 Sent March sales tax to the state. Journalize the transactions for the company. Ignore cost of goods sold. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Mar. 31: Recorded cash sales of $210,000, plus sales tax of 4% collected for the state of...
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