Received 9900 cash from students-of which 3600 is for

Assignment Help Accounting Basics
Reference no: EM13576141

Jim's Gymnastics Training's operations for the month of October are summarized as follows:
• Provided $7,000 of training to students. Billed customers on account.

•Received $9,900 cash from students-of which $3,600 is for training provided in October (as billed above), $1,100 is for training to be provided in November, and $5,200 is for training provided in September.

• Paid September's gym rental bill of $1,200. Received October's bill of $1,500 but did not pay.

Prepare appropriate journal entries using the accrual basis of accounting.

Reference no: EM13576141

Questions Cloud

Morrissey law firm has found from past experience that : morrissey law firm has found from past experience that twenty percent of its services are for cash. the remaining
If a purchase of supplies for 1341 was mistakenly recorded : if a purchase of supplies for 1341 was mistakenly recorded as a credit to supplies but the cash paid for the supplies
Mexican peso is expected to depreciate by 30 percent : you are the cfo of a u.s. firm whose wholly owned subsidiary in mexico manufactures component parts for your u.s.
Te received signal of a communication system r s n : q1. let wi be the power received by the mobile at distance i from the base station. the probability distribution of the
Received 9900 cash from students-of which 3600 is for : jims gymnastics trainings operations for the month of october are summarized as followsbull provided 7000 of training
Teich inc is considering whether to continue to make a : teich inc. is considering whether to continue to make a component or to buy it from an outside supplier. the company
Using the element definition from the conceptual framework : in mcdonalds 2009 10k report revenues from franchised restaurants consisted of rents being 4.8 million. future minimum
Evaluate the projects efficacy is this facility worthwhile : bender guitar corporation a manufacturer of custom electric guitars is contemplating a 1000000 investment in a new
Which depreciation method does amazoncom use for reporting : refer to the amazon.com financial statements including notes 1 and 3 in appendix a at the end of this book. answer the

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.

  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!

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