On December 1, 2014, Great Hills Landscaping collected $ 4,500 in advance from customers for landscaping services.

Question:

On December 1, 2014, Great Hills Landscaping collected $ 4,500 in advance from customers for landscaping services. The service revenue will be earned monthly over the six- month period ending May 31, 2015.

Requirements

1. Journalize the entry on December 1 by using the alternative treatment of unearned revenues.

2. Record the December 31 adjusting entry.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Horngrens Financial and Managerial Accounting

ISBN: 978-0133255584

4th Edition

Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura

See More Books

Question Posted: Jan 16, 2015 08:47 AM

See More Questions

1. In one experiment, ibuprofen was isolated from some pills. Using only melting point techniques, explain how the identity of the isolated ibuprofen can be proven. Assume you have authentic...
Journalize the adjusting entry needed on December 31 the end of the current accounting period, for each of the following independent cases affecting Irons Corp. Include an explanation for each entry....
The unearned advertising revenues collected in advance during the year total $482,800, and the unearned advertising revenue at the end of the year is $112,500. a. Record the following transactions...
Although epoxides are always considered to have their oxygen atom as part of a threemembered ring, the prefix epoxy in the IUPAC system of nomenclature can be used to denote a cyclic ether of various...
The following are solution concentrations. Indicate whether each solution is acidic, basic, or neutral. a. 2 10-11 M OH b. 2 10-9 M H3O+ c. 6 10-5 M OH d. 6 10-3 M H3O+
The Valley Wine Company produces two kinds of wineValley Nectar and Valley Red. The wines are produced from 64 tons of grapes the company has acquired this season. A 1,000-gallon batch of Nectar...
Why is it important to establish the meaning of talent and talent management in a particular organizational setting?
The Hemp Division of West Company produces rope. One-third of the Hemp Divisions output is sold to the Hammock Products Division of West; the remainder is sold to outside customers. The Hemp...
4. Find the equation of the tangent line to the graph of f (x)=x Also find the tangent point where the tangent line is horizontal. 1 at the point P(5,2). Show your work.
An adult takes roughly 12 breaths each minute, inhaling approximately 500mL with each breath. Oxygen and carbon dioxide are exchanged in the lungs. The amount of nitrogen exhaled equals the amount...
On December 1, 2014, Design Security Systems paid $ 9,000 for store rent covering the three-month period ending February 28, 2015. Requirements 1. Journalize the entry on December 1 by using the...
Sweet Catering completed the following selected transactions during May 2014: May 1 Prepaid rent for three months, $ 1,500. 5 Received and paid electricity bill, $ 400. 9 Received cash for meals...
Administrators at the national headquarters of the Center for the Display of Visual Arts are authorized to make small work-related purchases using purchasing cards. The average amount administrators...
Think of other situations in which a cues filtered-out approach exists. Use examples in your response.
What is a supply chain control tower?
Do you see communication behavior as being lawlike, like a system, or rule governed? Explain your answer.
Are there times when asking questions in initial encounters with others only results in more uncertainty? Give examples. Has reducing your uncertainty about someone ever led to you liking the person...
Suppose you were asked to differentiate between a tradition and a context. What would guide your thinking in your response?
Why is it not possible for a salt with the formula M 3 X (Na 3 PO 4 , for example) to have a face centered cubic lattice of X anions with M cations in octahedral holes?
Simplify the expression. Assume that all variables are positive. 23VI1 2 V44 8
Determine the center of mass of a pool cue whose diameter decreases smoothly from $40 \mathrm{~mm}$ to $10 \mathrm{~mm}$ over its $1.40-\mathrm{m}$ length (Figure P6.44). Assume that the cue is...
Sunrise Construction, Inc. is a home builder in Arizona. Sunrise uses a job order costing system in which each house is a job. Because it constructs houses, the company uses an account titled...
Custom Woods manufactures jewelry boxes. The primary materials (wood, brass, and glass) and direct labor are assigned directly to the products. Manufacturing overhead costs are allocated based on...
Student Stars produces stars for elementary teachers to reward their students. Student Stars trial balance on June 1 follows: June 1 balances in the subsidiary ledgers were as follows: Raw Materials...
If a company's revenues are greater than its expenses, increasing its revenues and decreasing what is its expenses?
A 10 MVA, 22 kV star connected alternator has armature resistance of 0.5 ohm. The machine is supplying 90 A current at zero pf leading when the terminal voltage is 25 kV. Under this condition, if the...
Explain you chose content marketing as your topic and why it is important. Identify the audience to which you have directed your content marketing infographic. Explain why this audience may have an...

On December 1, 2014, Great Hills Landscaping collected $ 4,500 in advance from customers for landscaping services.

Question:

Step by Step Answer:

Requirement 1 Date Accounts and Explanation Debit Credit Dec 1 Cash 4500 Service Revenue ...View the full answer

Horngrens Financial and Managerial Accounting

Students also viewed these Accounting questions