Reference no: EM132933251
Question - Splish Splash Art is a centre that offers children's music and dance lessons. Splish Splash prepares annual financial statements and has a December 31, 2020, year-end.
On September 1, Splish Spash Art collects $17,500 cash for dance lessons running from September 1, 2020 to December 31, 2020.
On October 1, Splish Splash Art collects $7,200 cash in advance from the Music Box Inc. ($3,600 per month) to rent its performance stage for the full month of December 2020 and January 2021.
On October 1, 2020, Splish Splash Art collects $11,300 cash for four months of music lessons for a local private school. The lessons run from October 1, 2020 to January 31, 2021.
Required - For the above transactions, record the initial journal entry and the adjusting entry required on December 31, 2020.
|
What annual interest rate compounded each month does need
: If he currently has $8,500, what annual interest rate compounded each month does he need to earn on his account to reach that goal?
|
|
What will have enough to pay off debts
: Carlos has 2 debts, If the value of the money is 1.82% per month compounded every two months, will he have enough to pay off his debts?
|
|
What is the expected return of your portfolio
: If you construct your portfolio so that its beta is equal to the beta on SRF, then what is the expected return of your portfolio
|
|
Find the amount must invest today
: Find the amount you must invest today if you want to have $300,000 in 3 years. The business year is used when converting to days.
|
|
Record the initial journal entry and the adjusting entry
: Splish Splash Art collects $11,300 cash for four months of music lessons for a local private school. Record the initial journal entry and the adjusting entry
|
|
What amount will roberto have to pay
: The debtor must pay 4% simple monthly on the overdue balance. What amount will Roberto have to pay if he pays off his debt 15 days after the due date?
|
|
Calculate the monthly payments to be made
: Calculate the monthly payments to be made. For the purchase of a car whose cost is $345,000, the 3-year term credit conditions are offered
|
|
How much is the total taxable income
: Interest paid to brother, on loan used to finance profession 5,000 and Salaries of office personnel 180,000. How much is the total taxable income
|
|
Prepare a brief income statement using variable costing
: Prepare a brief income statement using variable costing and Prepare an analysis showing the effect of discontinuing the Wise Division
|