User Account

All Pages

Problem - Prepare journal entries in a revenue journal

Assignment Help Accounting Basics
Reference no: EM132875547

Problem - Prepare journal entries in a revenue journal - Madison Services Company had the following transactions during the month of April:

Apr. 2. Issued Invoice No. 201 to Triple Play Corp. for services rendered on account, $345.

Apr. 3. Issued Invoice No. 202 to Mid States Inc. for services rendered on account, $410.

Apr. 14. Issued Invoice No. 203 to Triple Play Corp. for services rendered on account $110.

Apr. 25. Issued Invoice No. 204 to Parker Co. for services rendered on account, $830.

Apr. 28. Collected Invoice No. 201 from Triple Play Corp.

Required -

a. Prepare a revenue journal with the following headings to record the April revenue transactions for Madison Services Company.

b. Prepare a revenue journal with the following headings to record the April revenue transactions for Madison Services Company.

c. What is the April 30 balance of the Triple Play Corp. customer account assuming a zero balance on April 1?

Reference no: EM132875547

Questions Cloud

Determining the best decision-making model : Standardization, process, attention to detail, and uniform adherence to policy are the most difficult concepts for all managers. As a quality insurance director
Prepare a single-column revenue and a cash receipts journal : Prepare a single-column revenue journal and a cash receipts journal to record these transactions. Use the following column headings for cash receipts journal
What is a negative externality : Construct a graph for the market for Steel showing the market price and quantity when the firms are dumping their industrial waste in the local waterways.
Why is it important to be able to measure strategic plans : 1 Describe differrence between HR plans and HRM strategic plan?
Problem - Prepare journal entries in a revenue journal : Problem - Prepare journal entries in a revenue journal - Apr. 2. Issued Invoice No. 201 to Triple Play Corp. for services rendered on account, $345
What is the economic profit should us airways : What is the economic profit, opportunity cost, and should US Airways (American Airlines) build the training center at location or accept the developers offer?
Define naive forecasting : Define Naive Forecasting. Identify one disadvantage of using Naive Forecasting. Identify one advantage of using Naive Forecasting.
Provide one recommendation for each company to improve : Provide one recommendation for each company to improve one of the ratios that you've calculated. The improvement should be implementable
What about a company that has increased the amount of debt : What about a company that has increased the amount of debt on its balance sheet? Or, would you prefer to invest in a company that has had consistent increases

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd