Business, 15.02.2021 20:20 carapiasebas

For each of the following independent situations, prepare journal entries to record the initial transaction on September 30 and the adjustment required on October 31. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) a. Hockey Helpers paid $5,800 cash on September 30 to rent an arena for the months of October and November.
b. Super Stage Shows received $17,800 on September 30 for season tickets that admit patrons to a theatre event that will be held twice (on October 31 and November 30).
c. Risky Ventures paid $4,350 on September 30 for insurance coverage for the months of October, November, and December.
1. Record the payment of $5,400 cash on September 30 to rent an arena for the months of October and November.
2. Record the October 31 adjusting entry for the September 30 cash payment of $5,400 to rent the arena for the months of October and November.
3. Record the receipt by Super Stage Shows of $17,400 on September 30 for season tickets that admit patrons to a theatre event that will be held twice (on October 31 and November 30).
4. Record the October 31 adjusting entry for the September 30 receipt of $17,400 for season tickets that admit patrons to a theatre event that will be held twice (on October 31 and November 30).
5. Record the payment by Risky Ventures of $4,050 on September 30 for insurance coverage for the months of October, November, and December.
6. Record the October 31 adjusting entry for the September 30 cash payment of $4,050 for insurance coverage for the months of October, November, and December.

Answers: 2

Show answers

Another question on Business

Business, 21.06.2019 15:20

What is one of the best ways to determine what kind of business you'll enjoy

Answers: 1

Answer

Business, 21.06.2019 23:00

James has set the goal of achieving all "a"s during this year of school.which term best describes this goal

Answers: 2

Answer

Business, 22.06.2019 06:40

Depreciation on the company's equipment for 2017 is computed to be $18,000.the prepaid insurance account had a $6,000 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of the company's insurance policies showed that $1,100 of unexpired insurance coverage remains.the office supplies account had a $700 debit balance on december 31, 2016; and $3,480 of office supplies were purchased during the year. the december 31, 2017, physical count showed $300 of supplies available.two-thirds of the work related to $15,000 of cash received in advance was performed this period.the prepaid insurance account had a $6,800 debit balance at december 31, 2017, before adjusting for the costs of any expired coverage. an analysis of insurance policies showed that $5,800 of coverage had expired.wage expenses of $3,200 have been incurred but are not paid as of december 31, 2017.

Answers: 3

Answer

Business, 22.06.2019 11:10

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.

Answers: 2

Answer

You know the right answer?

For each of the following independent situations, prepare journal entries to record the initial tran...

Questions