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Question 33 4.75 pts On 7/1, The Lemonade Stand bought $1,500 of lemons on account from...
✓ Debit Gash Debit Deferred Revenue Question 30 4.75 pts The balance of retained earnings is...
✓ Debit Gash Debit Deferred Revenue Question 30 4.75 pts The balance of retained earnings is $13,000 on 1/1 at the beginning of the accounting period. Knights Inc. reports total revenues of $18,000; total expenses of $6,000; and pays dividends of $4,000 during this accounting period. What amount would the Balance Sheet show for Retained Earnings at the end of the accounting period on 12/31? Question 31 4.75 pts On 7/1, The Lemonade Stand bought $1,500 of lemons on account...
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account....
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Credit Cash Credit Deferred Revenue Debit Service Revenue Credit Service Revenue Debit Accounts Payable Credit Accounts Payable Debit Accounts Receivable Credit Accounts Receivable Debit Cash Debit Deferred Revenue 4.75 pts
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per...
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Cash for $4,800 Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Debit Rent Expense for $4,800 Credit Accounts Receivable for $4,800 Debit Prepaid Rent for $4,800 Debit Accounts Receivable $4,800 Credit Accounts Payable for $4,800 Credit Rent Expense for $600...
Hair Product Services Corp. bought supplies in the amount of $1,500 on 11/28. What account is...
Hair Product Services Corp. bought supplies in the amount of $1,500 on 11/28. What account is debited and what account is credited in the journal entry required on 11/28? (Select ALL that apply)
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Debit Service Revenue Debit Accounts Receivable Credit Service Revenue Credit Cash Credit Accounts Receivable Debit Accounts Payable Credit Deferred Revenue Debit Cash Credit Accounts Payable
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Credit Cash Credit Accounts Receivable Debit Service Revenue Credit Deferred Revenue Credit Accounts Payable Debit Accounts Payable Debit Accounts Receivable Credit Service Revenue Debit Cash
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc....
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Debit Accounts Receivable Debit Accounts Payable Debit Cash Credit Accounts Payable Debit Service Revenue Debit Deferred Revenue Credit Service Revenue Credit Deferred Revenue Credit Cash Credit Accounts Receivable
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2....
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2. 3. 4. S. 6. 7. 8. The payment of the current month's rent for $590 was recorded as a debit to Interest Payable and a credit to Cash, both for $590. (Note: This had not been previously accrued.) The collection of an account receivable for $480 was debited to Cash and credited to Service Revenue, both for $480. A payment for Utilities Expense of...
Prepare the necessary correcting entry for each of the following. (Credit account titles are automatically indented...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
Multiple Select Question On Sept 9. Daniel Corporation earns $7.000 by performing consulting services. Their customer...
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...
✓ Debit Gash Debit Deferred Revenue Question 30 4.75 pts The balance of retained earnings is $13,000 on 1/1 at the beginning of the accounting period. Knights Inc. reports total revenues of $18,000; total expenses of $6,000; and pays dividends of $4,000 during this accounting period. What amount would the Balance Sheet show for Retained Earnings at the end of the accounting period on 12/31? Question 31 4.75 pts On 7/1, The Lemonade Stand bought $1,500 of lemons on account...
Question 29 4.75 pts On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Credit Cash Credit Deferred Revenue Debit Service Revenue Credit Service Revenue Debit Accounts Payable Credit Accounts Payable Debit Accounts Receivable Credit Accounts Receivable Debit Cash Debit Deferred Revenue 4.75 pts
If The Gym paid for 8 months of advance rent on 7/1 for $4,800 ($600 per month). What account is debited and what account is credited in the journal entry required on 7/1? (Select ALL that apply) Credit Cash for $4,800 Credit Prepaid Rent for $4,800 Debit Accounts Payable for $600 Debit Rent Expense for $4,800 Credit Accounts Receivable for $4,800 Debit Prepaid Rent for $4,800 Debit Accounts Receivable $4,800 Credit Accounts Payable for $4,800 Credit Rent Expense for $600...
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. What should Knights, Inc. record on 6/26 (Select ALL that apply)? Debit Deferred Revenue Debit Service Revenue Debit Accounts Receivable Credit Service Revenue Credit Cash Credit Accounts Receivable Debit Accounts Payable Credit Deferred Revenue Debit Cash Credit Accounts Payable
On 6/26 Knights, Inc. sold $1,500 in services to SGA on account. On 8/31 Knights, Inc. received the $1,500 cash payment from SGA for the services provided in June. What should Knights, Inc. record on 8/31 (Select ALL that apply)? Debit Accounts Receivable Debit Accounts Payable Debit Cash Credit Accounts Payable Debit Service Revenue Debit Deferred Revenue Credit Service Revenue Credit Deferred Revenue Credit Cash Credit Accounts Receivable
Problem 4-BA The following accounting items were found in the journal of Wildhorse Company: 1. 2. 3. 4. S. 6. 7. 8. The payment of the current month's rent for $590 was recorded as a debit to Interest Payable and a credit to Cash, both for $590. (Note: This had not been previously accrued.) The collection of an account receivable for $480 was debited to Cash and credited to Service Revenue, both for $480. A payment for Utilities Expense of...
Prepare the necessary
correcting entry for each of the following. (Credit account titles
are automatically indented when the amount is entered. Do not
indent manually.) a. A payment on account of $840 was debited to
Accounts Payable $480 and credited to Cash $480. b. The collection
of Accounts Receivable of $680 was recorded as a debit to Cash $680
and a credit to Service Revenue $680.
Question 6 Prepare the necessary correcting entry for each of the following. (Credit account...
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...
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