Company D collects cash from a customer who purchased consulting services on account 3 weeks ago....
Company D collects cash from a customer who purchased consulting services on account 3 weeks ago.
Which account would Company D increase?
A. Cash
B. Accounts Payable
C. Accounts Receivable
D. Revenue
Homework Answers
Cash is received after 3 weeks for rendering consulting services.
Cash account will be increased.
Cash
Option A.
Add Answer to:
Company D collects cash from a customer who purchased consulting
services on account 3 weeks ago....
Company D collects cash from a customer who purchased consulting services on account 3 weeks ago....
Company D collects cash from a customer who purchased consulting services on account 3 weeks ago. Which account would Company D decrease? Group of answer choices a. Accounts Payable b. Accounts Receivable c. Cash d. Revenue
Kincaid Company provided consulting services of $2.500 to a customer who paid $1,300 and promised to...
Kincaid Company provided consulting services of $2.500 to a customer who paid $1,300 and promised to pay the remainder next month. Which of the following journal entries correctly records this transaction? Cash Accounts receivable Consulting revenue 1,300 1,200 2,500 Cash Accounts payable Consulting revenue 1,300 1. 2001 2,500 1.300 Cash Consulting revenue 1,300 1,300 1,300 Consulting revenue Cash Accounts receivable 1,300 1,200 Kincaid Company provided consulting services of $2.500 to a customer who paid $1,300 and promised to pay the...
A company collects cash from a customer to settle an account receivable. What effect does this...
A company collects cash from a customer to settle an account
receivable. What effect does this transaction have on the company's
total assets and total shareholders' equity?
No
effect
Increase
No
effect
No effect
Increase
Increase
Transaction Summary Sold on account $1500 of consulting services Purchased supplies on account from a vendor...
Transaction Summary Sold on account $1500 of consulting services Purchased supplies on account from a vendor for $800 Bought equipment for $10,000 using a note payable Sold for cash $5000 of consulting services Paid rent expense of $500 Paid salaries expense of $400 Received cash from customer in (a.) of $500 Paid to vendor in (b.) the amount of $400 One of our best customers paid us a retainer in cash in the amount for $2000 for future services to...
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...
Multiple Select Question On Sept 9. Daniel Corporation earns $7.000 by performing consulting services. Their customer...
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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...
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
10) A liability created when a business collects chrom customers in advance of growing services or...
10) A liability created when a business collects chrom customers in advance of growing services or delivering goods is called: a Notes receivable b. Unearned revenues C. Capital d. Revenues. 11) The Accounts Receivable account of Nuptials Inc. is shown below. Accounts Receivable 26.000 5.000 3.500 Calculate the ending balance of the account. a. $33,500, debit b. $31,000, debit C. $3,500, credit d. $27,500, debit 12) A business purchased $3,500 of office supplies with cash. Which of the following ledger...
Kincaid Company provided consulting services of $2.500 to a customer who paid $1,300 and promised to pay the remainder next month. Which of the following journal entries correctly records this transaction? Cash Accounts receivable Consulting revenue 1,300 1,200 2,500 Cash Accounts payable Consulting revenue 1,300 1. 2001 2,500 1.300 Cash Consulting revenue 1,300 1,300 1,300 Consulting revenue Cash Accounts receivable 1,300 1,200 Kincaid Company provided consulting services of $2.500 to a customer who paid $1,300 and promised to pay the...
A company collects cash from a customer to settle an account
receivable. What effect does this transaction have on the company's
total assets and total shareholders' equity?
No
effect
Increase
No
effect
No effect
Increase
Increase
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...
Multiple Select Question On Sept 9. Daniel Corporation earns $7.000 by performing consulting services. Their customer said that she would pay next month. Daniels Corporation journalized the transaction as follows, but something is wrong with the journal entry. Use your knowledge of what a correct journal entry should look like to identify everything that is wrong (Check all that apply) Date Accounts PRDebit Credit Sept 9 Consulting revenue 2.000 Accounts payable 2000 (Performed Consulting Services on Account) Accounts payable should...
On May 31, the Cash account of Tesla had a normal balance of $5,000. During May, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at the beginning of May? Multiple Choice O A SO balance. O A $4,300 debit balance, O A $4,300 credit balance. A $5,700 debit balance. A $5,700 credit balance. 16 24 Next > During the month of March, Harley's Computer...
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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
10) A liability created when a business collects chrom customers in advance of growing services or delivering goods is called: a Notes receivable b. Unearned revenues C. Capital d. Revenues. 11) The Accounts Receivable account of Nuptials Inc. is shown below. Accounts Receivable 26.000 5.000 3.500 Calculate the ending balance of the account. a. $33,500, debit b. $31,000, debit C. $3,500, credit d. $27,500, debit 12) A business purchased $3,500 of office supplies with cash. Which of the following ledger...
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