Edit questionQUESTION 2 Correct Mark 1.00 out of 1.00 Remove flagFlex Fitness is a heath and fitness club that operates gym facilities throughout the United States. Flexcompany's balancesheets follow ($ thousands)Selected Balance Sheet DataDeferred membershiincome (liability) 500,558 453,881During fiscal 2016, Flex Fitness collected $1,119,833 cash for membership feesCalculate the membership fee revenue that Flex Fitness recognized during the year.Select one:O A. $ 500,558 thousandO B. $1,166,510 thousand。C,$1,119,833 thousandD. $1,073,156 thousand

Deferred Membership income liability means the cash received has been received in advance for…

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Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter22: Master Budget (master)

Section: Chapter Questions

Problem 2R: Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas...

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September 30 2022 2021 Accounts receivable for member dues $19,400 $12,900 Unearned sales revenue 20,200 27,000 Service revenue (from member dues) 147,800 135,300 Dues are billed to members based upon their use of the club’s facilities. Unearned sales revenues arise from the sale of tickets to events, such as the Skins Game.(Hint: You will find it helpful to use T-accounts to analyze the following data. You must analyze these data sequentially, as missing information must first be deduced before moving on. Post your journal entries as you progress, rather than waiting until the end.) Prepare journal entries for each of the following events that took place during 2022. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) 1. Dues receivable from…
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X CengageNOWv2 | Online teachin X + .cengagenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSession Locator=&inprogress Use the information provided for Harding Company to answer the question that follow. Harding Company Accounts payable $32,558 Accounts receivable 60,589 Accrued liabilities 6,279 Cash 21,662 Intangible assets 44,020 Inventory 81,454 Long-term investments 97,693 79,992 Long-term liabilities Notes payable (short-term) 27,484 699,362 Property, plant, and equipment 2,375 Prepaid expenses 37,009 Temporary investments Based on the data for Harding Company, what is the quick ratio (rounded to one decimal place)? Oa. 15.7 Ob. 0.9 Oc. 1.8 Od. 3.1 L $ H % 5 6 a & 7 8
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engageNOWv2 | Online teachin X * CengageNOWv2 | Online teachin x+ com/ilm/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogre.. * eBook Show Me How Return on Total Assets A company reports the following income statement and balance sheet information for the current year: Net income $382,880 Interest expense 67,570 Average total assets 5,850,000 Determine the return on total assets. If required, round the answer to one decimal place. % Check My Work 67°F S
Open the file MASTER from the website for this book at cengagebrain.com. Enter all the formulas where indicated on the worksheet. Check to be sure that your balance sheet balances. Enter your name in cell A1. Save the completed file as MASTER2. Print the worksheet when done. Also print your formulas using fit-to-1 page scaling. Check figures: Borrowing (cell B78), $7,280; forecasted net income (cell D95), $40,200; total assets (cell D105), $507,600.
Shawna Sikes, Registered DieticianTrial BalanceJuly 31, 2024BalanceAccount Title Debit Credit Cash$30,000Accounts Receivable8, 700Office Supplies 1,600 Prepaid Insurance2, 800Equipment21,000 Accounts Payable$3,400Unearned Revenue 6,214 Notes Payable 25, 000Sikes, Capital 21,000Sikes, Withdrawals2, 000Service Revenue13, 186Salaries Expense1, 400Rent Expense800Utilities Expense500Total$ 68,800$68,80 Prepare A balance sheet based off the info provided
How much is the total Liabilities of the business? P193,200 P259,170 P338,300 P404,170 answer not given
Paragraph Styles keep using Word without interruption, activate before Monday, 17 May 2021. Activate Expressive Youths is a non-profit youth club in the Corporate Area that engages its members in the buying and selling of paintings that are sold to public to provide income for the club. For the financial year ending December 31, 2020 the clerical officer of the club provided the following information in relation to the club's activities: Payments Electricity Purchase of television Purchase of paintings Refreshments, etc. Stipend for clerk Stationery 2$ 120,000 subscription 60,000 Sale of paintings 320,000 Refreshment, etc. sale Receipts 300,000 800,000 600,000 280,000 Donations 250,000 200,000 96,000 Other activities 50,000 I. Additional Information: () On January 1, 2020 the club had paintings valued at $350,000., while subscription in arrears at that date was $15,000 On December 31, 2020 the club owed $25,000 for electricity, while $10,000 was paid for stationery that was to be…
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