The following transactions are July activities of Bill's Extreme Bowling, Incorporated, which operates several bowling centers....

 

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The following transactions are July activities of Bill's Extreme Bowling, Incorporated, which operates several bowling centers. For each of the following transactions, complete the spreadsheet, indicating the amount and effect (+ for increase and - for decrease) of each transaction under the accrual basis. The first transaction is provided as an example. (Indicate +/- if the effects offset within a category.) Transaction a. Bill's collected $12,000 from customers for services related to games played in July. b. Bill's billed a customer for $250 for a party held at the center on the last day of July. The bill is to be paid in August. c. The men's and women's bowling leagues gave Bill's advance payments totaling $1,500 for the fall season that starts in September. d. Bill's received $1,000 from credit sales made to customers last month (in June). Assets Liabilities Stockholders' Equity +12,000 No Effect Service Revenue (+R) +12,000 The following transactions are July activities of Bill's Extreme Bowling, Incorporated, which operates several bowling centers. For each of the following transactions, complete the spreadsheet, indicating the amount and effect (+ for increase and - for decrease) of each transaction under the accrual basis. The first transaction is provided as an example. (Indicate +/- if the effects offset within a category.) Transaction a. Bill's collected $12,000 from customers for services related to games played in July. b. Bill's billed a customer for $250 for a party held at the center on the last day of July. The bill is to be paid in August. c. The men's and women's bowling leagues gave Bill's advance payments totaling $1,500 for the fall season that starts in September. d. Bill's received $1,000 from credit sales made to customers last month (in June). Assets Liabilities Stockholders' Equity +12,000 No Effect Service Revenue (+R) +12,000