Question 62 ptsA company receives cash from a customer. The company does not perform theservices the customer has paid for until a future accounting period.The credit in this journal entry would go to which type of account?O LiabiltyO RevenueQuestion 72 ptsThe Income Statement shows the results of a company's operating activities for agiven time period.O TrueO False5 ptsQuestion 8SHOD TANC wERG Search or type URL%

6) Correct option is 'Liability' Reason :- Journal entry would be :- Cash (Dr)…

Answered: A company receives cash from a…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter7: Accounting Information Systems

Section: Chapter Questions

Problem 13MC: Received a check for $72 from a customer, Mr. White. Mr. White owed you $124. Which journal would...

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MUMassD Logor X E Quicklaunch - x K. myCourses Da: X Se Univ of Mass - X Ceng g In | Federa x ducation.com Saved mework View transaction list Journal entry worksheet 1 3 4 8 9 10 Provided $57,971 in service to customers during the year, with $21,658 on account and the rest received in cash. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal 0 日 search
On November 1, 2022, the account balances of Blue Spruce Corp. were as follows. No. Debits No. Credits 101 Cash $2,880 154 Accumulated Depreciation-Equipment $2,400 112 Accounts Receivable 5,100 201 Accounts Payable 3,120 126 Supplies 2,160 209 Unearned Service Revenue 1,440 153 Equipment 14,400 212 Salaries and Wages Payable 840 311 Common Stock 12,000 320 Retained Earnings 4,740 $24,540 $24,540 During November, the following summary transactions were completed. Nov. 8 Paid $2,040 for salaries due employees, of which $840 is for October salarles. 10 Received $4.096 cash from customers on account. 12 Received $3,720 cash for services performed in November. 15 Purchased equipment on account $2,400. 17 Purchased supplies on account $840. 20 Paid creditors on account $3,240. 22 Paid November rent $480. 25 Paid salaries $2,040. 27 Performed services on account and billed customers $2,280 for these services. 29 Recelved $720 from customers for future service.
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question General ledger Debit Credit Balance 01.11.20 50,000 31.12.20 Rental Revenue 6000 56,000 31.12.20 Rental Revenue 1800 57,800 01.01.21 Rental Revenue 6,000 51,800 Kindly show me the T Accounts for the above general ledger.
Question Content Area After the accounts are adjusted and closed at the end of the fiscal year, Accounts Receivable has a balance of $702,763 and Allowance for Doubtful Accounts has a balance of $22,123. What is the net realizable value of the accounts receivable? a. $702,763 b. $680,640 c. $724,886 d. $22,123
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OTime left 1:20:08 P Flag question Marked out of 2.0 Question 4 Not yet answered Which account is to be credited to reinstate an account during a bad debt recovery, using the direct:rite ff method? wered O a. Allowance for doubtful account O b. bad debts expense O c. cash O d. accounts receivable Previous page Next page SAMSUNG F8 F9 F10 F12 En Lock Prt Sc Insert Delete & 8 Backspace Hom T.
3. EX.09-05 O eBook Entries to Write Off Accounts Receivable Quantum Solutions Company, a computer consulting firm, has decided to write off the $33,550 balance of an account owed by a customer, Alliance Inc. a. Journalize the entry to record the write-off, assuming that the direct write-off method is used. b. Journalize the entry to record the write-off, assuming that the allowance method is used. 4. EX.09-19 eBook I Show Me How Determine Due Date and Interest on Notes Determine the due date and the amount of interest due at maturity on the following notes: Date of Note Face Amount Interest Rate Term of Note a. January 10* $40,000 5% 90 days b. March 19 18,000 8. 180 days June 5 90,000 30 days C. d. September 8 36,000 90 days 3. e. November 20 27,000 4 60 days *Assume that February has 28 days. Assume 360-days in a year when computing the interest. Note Due Date Interest (a) (b) (c) (d) (e)
this PC - P Seach Help AaBbCcDc AaBbCcD AaBbC AABBCCC AaB AaBbCcC AaBbCcD 1 Normal I No Spac. Heading 1 Heading 2 Title Subtitle Subtle Em. h Styles In July, the following selected transactions were completed. All purchases and sales were on account. At the beginning of July, the ledger of the company showed Cash RO. 2,500, purchase RO. 1,700, Account Receivable RO. 2,000, and Accounts Payable RO. 2,200. The following transactions were completed during July. Date Transactions July 1 Purchased merchandise from XYZ Company RO. 7,600. Received freight bill from Pegasus Shipping on XYZ purchase RO. 400. Made sales to Echo Company RO. 1,300 and to Pitas Bros. RO. 2,000. Purchased merchandise from Horizon Company RO. 3,200. Received credit on merchandise returned to Horizon Company RO. 300. Purchased store supplies from Bowe Supply RO. 910. Purchased merchandise from XYZ Company RO. 3,600 and from Goran Company RO. 3,300. Made sales to Fiber Company RO. 3,450 and to Pitas Bros. RO. 1,570.…
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Use the following T-account for Careful Corporation to answer questions 11 and 12: Accounts Receivable Beg. Bal. $ 187 18 150 6 64 15 19 End. Bal. $ ? The ending balance of Accounts Receivable for Careful is: Group of answer choices A. $401 debit B. $343 debit C. $343 credit D. $ 58 credit

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