Homework Answers
Ans. Option B
Explanation : Unearned fees is also known as income (fees) received in advance. This journal entry is recorded for future income received in advance.
This Unearned income (fees) is a current liability, so it is credited and cash account is debited by the amount of receipt.
Add Answer to:
375 315 March &* cash Unaarned Fees 177717787797 Whafis the best explanatton for this journal entry's...
March 6' Cash Unaarned Fees 375 What is the best explanatton for this journal entry spaldessh...
March 6' Cash Unaarned Fees 375 What is the best explanatton for this journal entry spaldessh for services to be performed. & Received cash for services to be perfomed in this futuras o. Paid cash in advance for services to bo dono. d. Received cash for services performed
May 120 31 "Suppilas Accounts Payable 120 What is the best explanation for this journal calley...
May 120 31 "Suppilas Accounts Payable 120 What is the best explanation for this journal calley O Purchased supplies on account 6. Rehimed suppifestpovlously purchased. c. Purchased aupplies svlék cestu. O a. Pald accounts payable 375 March 6* cash Unaarasd Fees What is the best explanation for this journal entyr Paid cash for services to be performed. O b Recefied cath for services to be performed in the future a Pald cash in advance for services to bo done. d....
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $...
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
Indigo's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These...
Indigo's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $55,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $41,000 cash. The price consists of land $24,500, building $9,190, and equipment $7,310. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
Describe the transaction shown in the following journal entry. A. Paid cash to a customer who...
Describe the transaction shown in the following journal entry. A. Paid cash to a customer who requested a refund. B. Received cash in advance for work to be performed in future months. C. Recorded adjusting entry for work completed. D. Received cash for services completed.
How to write this General Journal? Jan 1 Will invested $500,000 in the business for operations....
How to write this General Journal?
Jan 1 Will invested $500,000 in the business for operations. 1 Paid $30,000 cash for rent for the next six months. 1 Borrowed $175,000 from First National Bank. 1 Paid $6,000 for Insurance for the first quarter 2 Purchased $15,000 worth of equipment from Skyline Office equipment paying $5,000 cash with the balance being paid in 20 days. 4 Paid $1,500 cash to advertise the grand opening of the business. 5 Received $3,500 for...
Pronghorn's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These...
Pronghorn's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $61,000 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $46,400 cash. The price consists of land $23,300, building $8,090, and equipment $15,010. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare...
M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carte executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. a. Carter (owner) invested in the company $80,000 cash and $16,000 in property and equipment. The company issued common stock to Carter. b. The company paid $2,560 cash for rent of office furnishings and facilities for...
a. Received $10,300 cash for consulting services rendered in January b. Issued common stock to investors...
a. Received $10,300 cash for consulting services rendered in January b. Issued common stock to investors for $16,500 cash. c. Purchased $15,300 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,100 cash for consulting services to be performed in February e. Bought and received $1,030 of supplies on account. Received utility bill for January for $2,190, due February 15. g. Consulted for customers in January for fees totaling...
Monty’s Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These...
Monty’s Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $61,000 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead’s Golf Land for $40,400 cash. The price consists of land $24,800, building $8,390, and equipment $7,210. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
March 6' Cash Unaarned Fees 375 What is the best explanatton for this journal entry spaldessh for services to be performed. & Received cash for services to be perfomed in this futuras o. Paid cash in advance for services to bo dono. d. Received cash for services performed
May 120 31 "Suppilas Accounts Payable 120 What is the best explanation for this journal calley O Purchased supplies on account 6. Rehimed suppifestpovlously purchased. c. Purchased aupplies svlék cestu. O a. Pald accounts payable 375 March 6* cash Unaarasd Fees What is the best explanation for this journal entyr Paid cash for services to be performed. O b Recefied cath for services to be performed in the future a Pald cash in advance for services to bo done. d....
Hilton Service Center Trial Balance March 31, 2018 Account Title Balance Debit Credit 22,700 4,700 $ 2,600 Cash Accounts Receivable Office Supplies Land Accounts Payable Utilities Payable Unearned Revenue Notes Payable Common Stock Dividends Service Revenue Salaries Expense Rent Expense Interest Expense Utilities Expense 11,700 17,000 1,600 1,900 400 21 200 21200 Print Done AL in More Info 2 Borrowed $46,000 from the bank and signed a note payable in the name of the business. 4 Paid cash of $50,000...
Indigo's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $55,500 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $41,000 cash. The price consists of land $24,500, building $9,190, and equipment $7,310. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
How to write this General Journal?
Jan 1 Will invested $500,000 in the business for operations. 1 Paid $30,000 cash for rent for the next six months. 1 Borrowed $175,000 from First National Bank. 1 Paid $6,000 for Insurance for the first quarter 2 Purchased $15,000 worth of equipment from Skyline Office equipment paying $5,000 cash with the balance being paid in 20 days. 4 Paid $1,500 cash to advertise the grand opening of the business. 5 Received $3,500 for...
Pronghorn's Miniature Golf and Driving Range Inc. was opened on March 1 by Bob Dean. These selected events and transactions occurred during March. Mar. 1 Stockholders invested $61,000 cash in the business in exchange for common stock of the corporation. 3 Purchased Snead's Golf Land for $46,400 cash. The price consists of land $23,300, building $8,090, and equipment $15,010. (Record this in a single entry.) 5 Advertised the opening of the driving range and miniature golf course, paying advertising expenses...
M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carte executed the following transactions. Enter the transactions, a through g, into the financial statement effects template below. a. Carter (owner) invested in the company $80,000 cash and $16,000 in property and equipment. The company issued common stock to Carter. b. The company paid $2,560 cash for rent of office furnishings and facilities for...
a. Received $10,300 cash for consulting services rendered in January b. Issued common stock to investors for $16,500 cash. c. Purchased $15,300 of equipment, paying 25 percent in cash and owing the rest on a note due in 2 years. d. Received $12,100 cash for consulting services to be performed in February e. Bought and received $1,030 of supplies on account. Received utility bill for January for $2,190, due February 15. g. Consulted for customers in January for fees totaling...
Most questions answered within 3 hours.
-
Calculate the pH of each of the following solutions.
0.50 M HBr
3.1×10−4 M KOH
4.2×10−5...
asked 3 hours ago -
For the year ended December 31, Depot Max’s cost of merchandise
sold was $85,600. Inventory at the...
asked 3 hours ago -
Week 10 - Professional Memo Assignment
Professional Memo Assignment
Your mission for this week, should you...
asked 3 hours ago -
Write a Python program that stores the data for each
player on the team, and it...
asked 3 hours ago -
In
the last 3 months, mike never knows when he is going to get his
allowance...
asked 4 hours ago -
Is Ca(OH)2 a Bronsted base, Lewis base, or both? Why?
asked 3 hours ago -
1A- Why don’t voters complain about U.S. tariffs on imported
sugar?
Because sugar is only a...
asked 4 hours ago -
Cash Payback Period
Primera Banco is evaluating two capital investment proposals for
a drive-up ATM kiosk,...
asked 4 hours ago -
Create a button in Swift (Xcode) that will create a charge,
create a charge using Stripe's...
asked 4 hours ago -
The reaction rate of CO and NO2 in the reaction
CO(g) + NO2(g) → CO2(g) +...
asked 4 hours ago -
Imagine that a chemist puts 6.40 mol each of
C3H8 and O2 in a 1.00-L container...
asked 4 hours ago -
How much money should be invested today in order to have $8340
at the end of...
asked 4 hours ago