Winter Sports Rental tracks daily equipment rentals. Saturday shows: ski sets 22 at $45 each, snowboards 16 at $40 each. The rental revenue: a) $1,630 b) $1,620 c) $1,640 d) $1,610
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- CalculatePine ValleyPurrfect Pets, Inc. provides animal daycare for $ 28 per day. Customers buy three month packages, which provide 15 days of care per month. In January they received cash payments from 12 customers. For the month of January, they will recognize ________ of revenue under the cash basis, and ________ of revenue under the accrual basis. A. $15,120;$5,040 B. $ 420; $1,260 C. $5,040;$5,040 D. $15,120;$15,120
- For problems 15-18, Find the (a) down payment and (b) amount financed 15. Lawrence Huber purchased the finance of a $8,371.39 snowmobile with a 15% down payment 16. Bailey Ruffin bought a new motorcycle for $18,936.50 and made a 30% down payment. 17. Devon Gallagher purchased home entertainment equipment for $4,020.19 using the store's credit plan. He made a 20% down payment. 18. Linda Cusack purchased a $279.50 stereo player for her car. Using the store's credit plan, she made a $50 down payment. 15a 15b 16a 16b 17a 17b 18a 18bCalculate the unearned revenueCalculate 2.5 hours cost to this financial accounting problem.
- ???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.Service Industry AccountingThe Spectrum Fitness Club charges a nonrefundable annual membership fee of $1,200 for its services. For this fee, each member received a fitness evaluation (value $200), a monthly magazine (annual value $25), and two hours’ use of the equipment each week (annual value $1,100). Each of the three elements of the annual membership can be purchased separately. The initial direct costs to obtain the membership are $180. The direct cost of the fitness evaluation is $100, and the monthly direct costs to provide the other services are estimated to be $25 per person. Give the journal entries to record the transactions in 2019 relative to a membership sold on May 1, 2019.