On December 31, 2015, Dab Industries reported an unearned service revenue account balance of $2,500 and...
- On December 31, 2015, Dab Industries reported an unearned service revenue account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) decreased by $1,300. During 2016, cash payments collected from customers for future services totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry.
|
A. |
Cash (dr) $5,000 Unearned Service Revenue (cr) $5,000 |
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|
B. |
Unearned Service Revenue (dr) $1,300 Service Revenue (cr) $1,300 |
|
|
C. |
Service Revenue (dr) $3,800 Unearned Service Revenue (cr) $3,800 |
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|
D. |
none of the answer choices provided are correct. |
|
|
E. |
Unearned Service Revenue (dr) $6,200 Service Revenue (cr) $6,200 |
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On December 31, 2015, Dab Industries reported an
unearned service revenue account balance of $2,500 and...
On December 31, 2015, Dab Industries reported an unearned service revenue account balance of $2,500 and...
On December 31, 2015, Dab Industries reported an unearned service revenue account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) increased by $700. During 2016, cash payments collected from customers for future services totaled $8,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. A. Service Revenue (dr) $3,200 Unearned Service Revenue (cr) $3,200 O B. Unearned Service Revenue (dr) $7,300 Service Revenue (cr) $7,300...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) decreased by $1,300. During 2016, cash payments for future insurance coverage totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. O A. Prepaid Insurance Expense (dr) $5,000 Cash (or) $5,000 B. "none of the answer choices provided are correct. C. Insurance Expense (dr)...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and during 2016 the overall account balance (i.e. reportedby the company on its financial statements) increased by $300. During 2016, cash payments for future insurance coverage totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. A. Prepaid Insurance Expense (dr) $300 Insurance Expense (cr) $300 B. Insurance Expense (dr) $4,700 Prepaid Insurance Expense (cr) $4,700 C. Prepaid Insurance...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31,...
Below is the adjusted trail balance for Bally Services. BALLY SERVICES Adjusted Trial Balance December 31, 2018 DR CR Cash $ 11,000 Accounts Receivable 23,500 Supplies 3,000 Prepaid Insurance 2,500 Equipment 60,000 Accumulated Depreciation- $ 33,000 Equipment Accounts Payable 5,000 Interest Payable 150 Notes Payable 5,000 Unearned Service Revenue 5,600 Salaries and Wages Payable 1,300 Common Stock 10,000 Retained Earnings 3,500 Service Revenue 63,500 Salaries and Wages Expense 11,300 Insurance Expense 850 Interest Expense 500 Depreciation Expense 5,000 Supplies Expense...
Kurian Industries' balance sheet at December 31, 2015, is presented below. KURIAN INDUSTRIES Balance Sheet December...
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The trial balance columns of the worksheet for Monty at March 31, 2019, are as follows....
The trial balance columns of the worksheet for Monty at March 31, 2019, are as follows. Cr. Monty Worksheet For the Month Ended March 31, 2019 Trial Balance Account Titles Dr. Cash 4,800 Accounts Receivable 3,000 Supplies 2,500 Equipment 11,440 Accumulated Depreciation, 1,300 Equipment Accounts Payable 2,400 Unearned Service Revenue 700 Common Stock 11,020 Retained Earnings 3,100 Dividends 1,100 Service Revenue 6,000 Salaries and Wages Expense 1,300 Miscellaneous Expense 380 24,520 24,520 Other data: 1. A physical count reveals only...
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On December 31, 2015, a company reported the following information on its balance sheet: Accounts receivable...
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Happy Corporation Partial Trial Balance December 31, 2020 Cash Account Receivable Supplies Prepaid Insurance Equipment Accumulated Depreciation Account Payable Notes Payable Unearned Service Revenue Salaries and Wages Payable Common Stock Retained Earnings Service Revenue Salaries and Wages Expense Insurance Expense Interest Expense Depreciation Expense Supplies Expense Rent Expense $11,350 21,500 5,000 2,500 60,000 35,000 5,000 5,150 5,600 1,300 10,000 3,500 61,500 11,300 150 2,000 7,000 3,400 4,000 Make closing entries for Happy Corporation as of December 31,2020 Name Problem III...
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On December 31, 2015, Dab Industries reported an unearned service revenue account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) increased by $700. During 2016, cash payments collected from customers for future services totaled $8,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. A. Service Revenue (dr) $3,200 Unearned Service Revenue (cr) $3,200 O B. Unearned Service Revenue (dr) $7,300 Service Revenue (cr) $7,300...
On December 31, 2015, Dab Industries reported a prepaid insurance expense account balance of $2,500 and during 2016 the overall account balance (i.e. reported by the company on its financial statements) decreased by $1,300. During 2016, cash payments for future insurance coverage totaled $5,000. Select the answer below that correctly presents the December 31, 2016 adjusting entry. O A. Prepaid Insurance Expense (dr) $5,000 Cash (or) $5,000 B. "none of the answer choices provided are correct. C. Insurance Expense (dr)...
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