Homework Answers
The entry would be
| Accounts Receivable | 200 | |
| Service Revenue (400/2) | 200 |
Option A is the answer
Add Answer to:
On December 15, Jay Cleaning Co. agreed to provide Kay Co. with bimonthly cleaning services for...
A company provides maintenance services to customers. The company's policy is to provide services and then...
A company provides maintenance services to customers. The company's policy is to provide services and then bill customers on the 10th of the following month. In December 2021, the company provided services of $14.000 and plans to bill customers on January 10, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice Debit Accounts Receivable and credit Deferred Revenue for $14,000. Debit Accounts Receivable and credit Service Revenue for $14,000. 0 Debit Service Revenue...
On December 28, 1. Greasy Catering Company completed $600 of catering services. As of December 31,...
On December 28, 1. Greasy Catering Company completed $600 of catering services. As of December 31, the customer had not been billed nor had the transaction been recorded. Demonstrate the required adjusting entry by choosing the correct statement below. Debit Catering revenue for $600. O Debit Unearned revenue for $600. O Credit Accounts receivable for $600. Debit Accounts receivable for $600.
On December 28, 1. Greasy Catering Company completed $600 of catering services
On December 28, 1. Greasy Catering Company completed $600 of catering services. As of December 31, the customer had not been billed nor had the transaction been recorded. Demonstrate the required adjusting entry by choosing the correct statement below.Debit Accounts receivable for $600.Credit Accounts receivable for $600.Debit Catering revenue for $600.Debit Unearned revenue for $600.
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during...
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
NOVI Agreed to provide consulting services to XYZ Company. XYZ paid $10.000 in advance work will...
NOVI Agreed to provide consulting services to XYZ Company. XYZ paid $10.000 in advance work will be done in December 2017 and January 2018 Account Debit Credit Date ald 10,000 in advance. The Onearned revenue Dec. Date Received $4.000 cash from Jodi Thompson for services rendered on Account Debit Nov Credit 4.000 Dec 31 Completed half of the work paid for by XYZ Company on Nov 15th. Make the necessary adjusting entry to reflect the work completed. Account Debit Credit...
Comprehensive Problem: Review of the Accounting Cycle for a Service Company Speedy Cleaning Service began its...
Comprehensive Problem: Review of the Accounting Cycle for a Service Company Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Dec. Summary of Transactions: Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance...
Exercise 7-14 On December 31, 2015, Oriole Co. performed environmental consulting services for Hayduke Co. Hayduke...
Exercise 7-14
On December 31, 2015, Oriole Co. performed environmental
consulting services for Hayduke Co. Hayduke was short of cash, and
Oriole Co. agreed to accept a $346,500 zero-interest-bearing note
due December 31, 2017, as payment in full. Hayduke is somewhat of a
credit risk and typically borrows funds at a rate of 11%. Oriole is
much more creditworthy and has various lines of credit at 6%.
Prepare the journal entry to record the transaction of December
31, 2015, for...
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during...
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
Type your answer in the box. On December 27, a business completed a $400 service that...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
Type your answer in the box. On December 27, a business completed a $400 service that...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
A company provides maintenance services to customers. The company's policy is to provide services and then bill customers on the 10th of the following month. In December 2021, the company provided services of $14.000 and plans to bill customers on January 10, 2022. What adjusting entry, if any, will the company record on December 31, 2021? Multiple Choice Debit Accounts Receivable and credit Deferred Revenue for $14,000. Debit Accounts Receivable and credit Service Revenue for $14,000. 0 Debit Service Revenue...
On December 28, 1. Greasy Catering Company completed $600 of catering services. As of December 31, the customer had not been billed nor had the transaction been recorded. Demonstrate the required adjusting entry by choosing the correct statement below. Debit Catering revenue for $600. O Debit Unearned revenue for $600. O Credit Accounts receivable for $600. Debit Accounts receivable for $600.
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
NOVI Agreed to provide consulting services to XYZ Company. XYZ paid $10.000 in advance work will be done in December 2017 and January 2018 Account Debit Credit Date ald 10,000 in advance. The Onearned revenue Dec. Date Received $4.000 cash from Jodi Thompson for services rendered on Account Debit Nov Credit 4.000 Dec 31 Completed half of the work paid for by XYZ Company on Nov 15th. Make the necessary adjusting entry to reflect the work completed. Account Debit Credit...
Comprehensive Problem: Review of the Accounting Cycle for a Service Company Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Dec. Summary of Transactions: Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance...
Exercise 7-14
On December 31, 2015, Oriole Co. performed environmental
consulting services for Hayduke Co. Hayduke was short of cash, and
Oriole Co. agreed to accept a $346,500 zero-interest-bearing note
due December 31, 2017, as payment in full. Hayduke is somewhat of a
credit risk and typically borrows funds at a rate of 11%. Oriole is
much more creditworthy and has various lines of credit at 6%.
Prepare the journal entry to record the transaction of December
31, 2015, for...
Speedy Cleaning Service began its operations on December 1, 2019. The following transactions took place during its first month of operations. The company uses the calendar year as its reporting period. During December, the company completed the following transactions. Summary of Transactions: Dec. 1 Stockholders invested $14,000 cash in the business in exchange for common stock. Dec. 2 Purchased a used truck for $10,000, paying $3,000 cash and the balance on account Dec. 3 Dec. 5 Dec. 12 Purchased cleaning...
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
Type your answer in the box. On December 27, a business completed a $400 service that had not yet been billed or recorded as of December 31. Demonstrate the required adjusting entry of the business by completing the following sentence. The required adjusting entry would be to debit the (Unearned revenue/Accounts receivable/Cash/Service revenue) account and (debit/credit) the (Unearned revenue/Accounts receivable/Cash/Service revenue) account. Read about this Do you know the answer? I know it Think so No idea
Most questions answered within 3 hours.
-
Wildhorse Company follows the practice of pricing its inventory
at the lower-of-cost-or-market, on an individual-item
basis....
asked 28 minutes ago -
3. (10 pts) You grow a corn crop that yields 150 bushels ac-1,
with the following...
asked 17 minutes ago -
7. The term Six Sigma refers to:
Select one:
a. The control limits established in a...
asked 26 minutes ago -
For the following reaction: A(g) + 2 B(g) ⇌ 2 C(g) Calculate the
equilibrium constant K...
asked 28 minutes ago -
Which of the following best describes tidal volume? options:
1.The amount of oxygen in the air...
asked 45 minutes ago -
1. Smaller cost distortions occur when the traditional systems'
single indirect-cost rate and the activity-cost-driver rates:...
asked 53 minutes ago -
Using either a FMECA approach or some other appropriate RCA
tool, identify five risk treatment actions...
asked 53 minutes ago -
If for a test the P-value is between 0.0025 and 0.005, what
conclusion can you draw?...
asked 1 hour ago -
Using Python. Write a function clean2(aList) that takes a list
of integers aList as argument, and...
asked 1 hour ago -
Intrapreneurship is defined as the
development of an enterprise culture with an existing (Nandan,
2009). An...
asked 1 hour ago -
QUESTION 1 Tamiflu is a drug used to treat influenza. A study
found that Tamiflu reduced...
asked 1 hour ago -
Which of the following would be less likely to be used to
allocate factory overhead when...
asked 1 hour ago