Homework Answers
Journal Entry
Cash A/C Dr $1710
Service Revenue Cr $ 1710
So ans is Dr to cash a/C for $1710
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Question 10 of 1B 72 View Policies Current Attempt in Progress On July 7, 2020, Sheffield...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed her clients for services performed. She subsequently receives payments from her clients. Whater will Sebastian make upon receipt of the payments? Debit Unearned Service Revenue and credit Service Revenue Debit Cash and credit Accounts Receivable O Debit Cash and credit Service Revenue Debit Accounts Receivable and credit Service Revenue Save for Later Attempts: 0 of 1 used Submit Answer
View Policies Current Attempt in Progress At January 1, 2022, Sheffield Corp. reported Retained Earnings of...
View Policies Current Attempt in Progress At January 1, 2022, Sheffield Corp. reported Retained Earnings of $371000. During 2022, Sheffield had a net loss of $79500 and paid dividends to the stockholders of $53000. At December 31, 2022, the balance in Retained Earnings is O $291500 debit O $318000 credit O $371000 debit. O $238500 credit. Save for Later Attempts: 0 of 1 used Submit Answer
Question 20 of 25 < - / 1 View Policies Current Attempt in Progress On October...
Question 20 of 25 < - / 1 View Policies Current Attempt in Progress On October 3, Karl Schickele, a carpenter, received a cash payment for services previously billed to a client, Karl paid his telephon bill, and he also bought equipment on credit. For the three transactions, at least one of the entries will include a credit to Notes Payable O credit to Accounts Payable. O debit to Accounts Receivable. O credit to Retained Earnings. Save for Later Attempts:...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom...
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debitec full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Swifty's Sports Store is O Debit Rent Expense. $14600; Credit Prepaid Rent, $14600. O Debit Rent Expense, $14600: Credit Prepaid Rent. $3650. Debit Prepaid Rent, $3650; Cred Rent Expense, $3650. Debit Rent Expense. $3650: Credit...
Question 17 of 18 View Policies Current Attempt in Progress Selected transactions for the Swifty Bryce...
Question 17 of 18 View Policies Current Attempt in Progress Selected transactions for the Swifty Bryce Company are presented in journal form below. Ref: Credit Date May 5 Debit 5,400 5,400 12 4,800 Account Titles and Explanation Accounts Receivable Service Revenue (Billed for services performed Cash Accounts Receivable (Received cash in payment of account) Casti Service Revenue (Received cash for services performed) 4.800 15 3,800 3.800 Post the transactions to T-accounts and determine each account's ending balance. (Post entries in...
Question 1 View Policies Current Attempt in Progress Calculate the missing information in each of the...
Question 1 View Policies Current Attempt in Progress Calculate the missing information in each of the following independent situations: Blossom Company Sunland Company Kingbird, Co. Supplies on hand, May 31, 2020 $780 $1,305 $955 3,755 3,055 2,305 Supplies purchased during the year 655 1355 1,705 Supplies on hand, May 31, 2021 5190 2,655 Supplies used during the year e Textbook and Media Attempts:0 of 3 used Save for Later OP € 2 O e o o ew ng Weekly Wildhorse...
Question 4 of 5 -/1 View Policies Current Attempt in Progress Pharoah Corporation loaned $550000 to...
Question 4 of 5 -/1 View Policies Current Attempt in Progress Pharoah Corporation loaned $550000 to another corporation on December 1, 2020 and received a 3-manth, 9% interest-bearing note with a face value of $550000. What adjusting entry should Pharoah make on December 31, 2020? Debit Cash and credit Interest Receivable, $12375. O Debit Casi and credit Interest Revenue, $4125. Debit Interest Receivable and credit Interest Revenue, $12375. Debit Inarest Receivable and credit Interest Revenue $4125 Save for Later Attempts:...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance of Flounder Corporation does not balance, Credit FLOUNDER CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Cash $6,796 Accounts Receivable 7.770 Supplies 3,736 Equipment 9,500 Accounts Payable Common Stock Retained Earnings Service Revenue Office Expense 4,560 $32,362 $8,484 11,500 2,900 6,798 $29,682 An examination of the ledger shows these errors. 1. 2. 3. Cash received from a customer on account was recorded (both debit and...
Question 6 of 6 > -11 View Polldes Current Attempt in Progress The following information relates...
Question 6 of 6 > -11 View Polldes Current Attempt in Progress The following information relates to Sheffield Real Estate Agency Oct 1 2 3 6 James Sheffield begins business as a real estate agent with a cash investment of $21.750 Hires an administrative assistant Purchases office furniture for $2.755, on account. Sells a house and lot for C. Rouse; bills C. Rouse $5 220 for realty services performed. Pays $1.595 on the balance related to the transaction of October...
Question 12 of 25 -11 View Policies Current Attempt in Progress Sebastian Belle, CPA, has billed her clients for services performed. She subsequently receives payments from her clients. Whater will Sebastian make upon receipt of the payments? Debit Unearned Service Revenue and credit Service Revenue Debit Cash and credit Accounts Receivable O Debit Cash and credit Service Revenue Debit Accounts Receivable and credit Service Revenue Save for Later Attempts: 0 of 1 used Submit Answer
View Policies Current Attempt in Progress At January 1, 2022, Sheffield Corp. reported Retained Earnings of $371000. During 2022, Sheffield had a net loss of $79500 and paid dividends to the stockholders of $53000. At December 31, 2022, the balance in Retained Earnings is O $291500 debit O $318000 credit O $371000 debit. O $238500 credit. Save for Later Attempts: 0 of 1 used Submit Answer
Question 20 of 25 < - / 1 View Policies Current Attempt in Progress On October 3, Karl Schickele, a carpenter, received a cash payment for services previously billed to a client, Karl paid his telephon bill, and he also bought equipment on credit. For the three transactions, at least one of the entries will include a credit to Notes Payable O credit to Accounts Payable. O debit to Accounts Receivable. O credit to Retained Earnings. Save for Later Attempts:...
View Policies Current Attempt in Progress For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance Accounts Payable. a. b. < > < > < d. Advertising Expense. Service Revenue. Accounts Receivable. Retained Earnings. Dividends. < e. f. eTextbook and Media Save for Later Attempts: 0 of 3 used Submit Answer View Policies Current Attempt in Progress For each of the following...
View Policies Current Attempt in Progress On July 1, Swifty's Sports Store paid $14600 to Blossom Realty for 4 months rent beginning July 1. Prepaid Rent was debitec full amount. If financial statements are prepared on July 31, the adjusting entry to be made by Swifty's Sports Store is O Debit Rent Expense. $14600; Credit Prepaid Rent, $14600. O Debit Rent Expense, $14600: Credit Prepaid Rent. $3650. Debit Prepaid Rent, $3650; Cred Rent Expense, $3650. Debit Rent Expense. $3650: Credit...
Question 17 of 18 View Policies Current Attempt in Progress Selected transactions for the Swifty Bryce Company are presented in journal form below. Ref: Credit Date May 5 Debit 5,400 5,400 12 4,800 Account Titles and Explanation Accounts Receivable Service Revenue (Billed for services performed Cash Accounts Receivable (Received cash in payment of account) Casti Service Revenue (Received cash for services performed) 4.800 15 3,800 3.800 Post the transactions to T-accounts and determine each account's ending balance. (Post entries in...
Question 1 View Policies Current Attempt in Progress Calculate the missing information in each of the following independent situations: Blossom Company Sunland Company Kingbird, Co. Supplies on hand, May 31, 2020 $780 $1,305 $955 3,755 3,055 2,305 Supplies purchased during the year 655 1355 1,705 Supplies on hand, May 31, 2021 5190 2,655 Supplies used during the year e Textbook and Media Attempts:0 of 3 used Save for Later OP € 2 O e o o ew ng Weekly Wildhorse...
Question 4 of 5 -/1 View Policies Current Attempt in Progress Pharoah Corporation loaned $550000 to another corporation on December 1, 2020 and received a 3-manth, 9% interest-bearing note with a face value of $550000. What adjusting entry should Pharoah make on December 31, 2020? Debit Cash and credit Interest Receivable, $12375. O Debit Casi and credit Interest Revenue, $4125. Debit Interest Receivable and credit Interest Revenue, $12375. Debit Inarest Receivable and credit Interest Revenue $4125 Save for Later Attempts:...
Question 19 of 52 < -11 View Policies Current Attempt in Progress The following trial balance of Flounder Corporation does not balance, Credit FLOUNDER CORPORATION TRIAL BALANCE JUNE 30, 2020 Debit Cash $6,796 Accounts Receivable 7.770 Supplies 3,736 Equipment 9,500 Accounts Payable Common Stock Retained Earnings Service Revenue Office Expense 4,560 $32,362 $8,484 11,500 2,900 6,798 $29,682 An examination of the ledger shows these errors. 1. 2. 3. Cash received from a customer on account was recorded (both debit and...
Question 6 of 6 > -11 View Polldes Current Attempt in Progress The following information relates to Sheffield Real Estate Agency Oct 1 2 3 6 James Sheffield begins business as a real estate agent with a cash investment of $21.750 Hires an administrative assistant Purchases office furniture for $2.755, on account. Sells a house and lot for C. Rouse; bills C. Rouse $5 220 for realty services performed. Pays $1.595 on the balance related to the transaction of October...
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