?? General Accounting QuestionMountain Peak Skiing records daily lift ticket sales.Saturday shows: adult tickets 145 at $65 each, childtickets 85 at $45 each. Present the total ticketrevenue.

Explanation of Ticket Revenue:Ticket revenue refers to the income generated from the sale of tickets…

Answered: General Accounting Question Mountain…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter8: Current And Contingent Liabilities

Section: Chapter Questions

Problem 52BE: Unearned Sales Revenue Curtiss Carpet Cleaning normally charges $90 to clean one room of carpeting....

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Gros s marging The following is select account information for August Sundries. Sales: $850,360; Sales Returns and Allowances: $148,550; COGS: $300,840; Operating Expenses: $45,770; Sales Discounts: $231,820.
Using the following information. a. Beginning cash balance on March 1, $81,000. b. Cash receipts from sales, $305.000. c. Cash payments for direct materials, $130.000. d. Cash payments for direct labor. $79,000. e. Cash payments for overhead, $38.00. f. Cash payments for sales commissions, $7000 g. Cash payments for interest, $130 (1% of beginning loan balance of $13,000) h. Cash repayment of loan, $13.000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments $4 Loan activity Loan balance, end of month %24 K Prev earch
INTERPRETATION OF FINANCIAL STATEMENTS 1. CAMPERS PARADISE sells tents, camping equipment and other outdoor itemo at a mark-up of 25%. INSTRUCTIONS Study the information given below to answer the questions which follow. INFORMATION A. Extract of the INCOME STATEMENT for the vear ended 30 November 2010. Sales 2 400 000 Cost of Sales Gross Profit 20 000 Other Operating Income 200 000 Operating Expenses Operating Profit for year Interest Expenses 12 000 Interest Income Net Profit for year B. Balance Sheet as at 30 November 2010, 2010 2009 Tangible Assets (Fixed Assets) 850 300 720 500 Inventory Trade and other Receivables 480 000 562 200 88 975 24 300 Cash and Cash Equipments 2 200 000 2 000 000 Capital 400000 Net Profit Drawings 35 000 12 000 Loan: BC Bank 320 000 350 000 Trade and other Payable 601 900 508 325
Journal Entry September 30: Sold 15 bicycles on special at $150 each and 5 golf club sets at $350 each. The customer put 12% on account and paid cash for the rest.
Unearned Sales Revenue Brand Landscaping offers a promotion where a customers lawn will be mowed 20 times if the customer pays $700 in advance. Required: Prepare the journal entry to record (1) the customers' prepayment of S700 and (2) Brands mowing of the lawn one time.
Given the following: 31-day billing cycle 10/5 billing Data Previous Balance $3,300 10/11 Charge $ 320 10/18 Charge $1,240 10/25 Payment $ 400 11/1 Charge $ 630 The average daily balance is:
Using the following information: a. Beginning cash balance on March 1, $78,000. b. Cash receipts from sales, $301,000. c. Cash payments for direct materials, $131,000. d. Cash payments for direct labor, $77,000. e. Cash payments for overhead, $39,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $100 (1% of beginning loan balance of $10,000) h. Cash repayment of loan, $10,000. Prepare a cash budget for March for Gado Company.
Drainee purchases direct materials each month. Its payment history shows that 65% is paid in the month of purchase with the remaining balance paid the month after purchase. Prepare a cash payment schedule for January using this data: in December through February, it purchased $22,000, $25,000, and $23,000 respectively.
Using the following information: a. Beginning cash balance on March 1, $80,00. b. Cash receipts from sales, $306,000. c. Cash payments for direct materials, $135,000. d. Cash payments for direct labor, $73,000. e. Cash payments for overhead, $41,000. f. Cash payments for sales commissions, $7,000 g. Cash payments for interest, $110 (1% of beginning loan balance of $11,000) h. Cash repayment of loan, $11,000. Prepare a cash budget for March for Gado Company. GADO COMPANY Cash Budget March Total cash available Less: Cash payments for Total cash payments Loan activity Loan balance, end of month D-pptx A Presentation3.pptx 1 Jarvis CST 141.00...pptx A Musical Theatre Hi...ppt re to search
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Rainbow, Inc began operations on January 1 of the oument year with a $12.000 cash balanoe. Forty percent of sales e collected in the month of sale 00 ae colleded in the month following sale Similarty. 20% of purchases are paid in the month of purhase, and B0 are paid in the morth following purchase. The folowing data apply February January February 66.00 35.00 Sales 30.00 40.00 Purdhases Operating epenses operating experses re paid in the month inoumed and indude monnly deprediation anarges of 52.600. denermine the change in Rainbows cash talane dunng February $7.500 ingrease 7.000 9.000 $2.000 increase 35.000 inrease 4.000 ingrease None of the answen is coned

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General Accounting Question Mountain Peak Skiing records daily lift ticket sales. Saturday shows: adult tickets 145 at $65 each, child tickets 85 at $45 each. Present the total ticket revenue.