Nada Catering received $4,000 cash in advance from a customer for catering services to be provided...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Nada Catering received $4,000 cash in advance from a customer for catering services to be provided in the coming six months. Determine the general jourmal entry that Nada Catering will make to record the cash receipt today O DR. Account receivable $4000 / CR. Catering Revenue $4000 O DR. Uneamed Catering Revenue $4000 / CR Cash $4000 O DR. Cash $4000 /CR. Unearned Catering Revenue $4000 O DR. Catering revenue $4000 / CR. Cash S4000 Nada Catering received $4,000 cash in advance from a customer for catering services to be provided in the coming six months. Determine the general jourmal entry that Nada Catering will make to record the cash receipt today O DR. Account receivable $4000 / CR. Catering Revenue $4000 O DR. Uneamed Catering Revenue $4000 / CR Cash $4000 O DR. Cash $4000 /CR. Unearned Catering Revenue $4000 O DR. Catering revenue $4000 / CR. Cash S4000
Expert Answer:
Answer rating: 100% (QA)
Presentation The diary sections save the record for everyday exc... View the full answer
Related Book For
Intermediate Accounting
ISBN: 978-0324592375
17th Edition
Authors: James D. Stice, Earl K. Stice, Fred Skousen
Posted Date:
Students also viewed these accounting questions
-
The company collected $1,000 cash in advance from a customer for services to be rendered. Subsequently, the company rendered the services. Make the journal entries necessary to record (1) The receipt...
-
Question 4 You have just started as the sole full-stack developer for an exciting new start up "Abs App" who are developing a fitness tracker. Your job is to develop the MVP (minimum viable product)...
-
Account No Account Titles Dr Cr Dr Cr 101Cash8840 112Accounts Receivable10989 130Prepaid Insurance2828 157Equipment23599 167Accumulated DepreciationEquip4394 201Accounts Payable9150 212Salaries and...
-
Find the maximum of (x, y, z) = xyz subject to the constraint g(x, y, z) = 2x + y + 4z = 1.
-
Maul, Inc., a calendar year S corporation, incurred the following items. Tax-exempt interest income ............. $ 7,000 Sales ....................... 140,000 Depreciation recapture income...
-
The board of education for the Central Catskill School District is considering the acquisition of several minibuses for use in transporting students to school. Five of the school district's bus...
-
Consider a European call option on a non-dividend-paying stock. The strike price is \(K\), the time to expiration is \(T\), and the price of one unit of a zero-coupon bond maturing at \(T\) is...
-
Whitecotton Company produces plastic bottles. The unit for costing purposes is a case of 18 bottles. The following standards for producing one case of bottles have been established: Direct materials...
-
The Ferre Publishing Company provided the following data for its three service departments and two operating departments. Costs Service Departments Administration Janitorial $ 140,000 Square feet of...
-
Preparing the Olney Company's Employee Payroll Register for the pay period ending January 8th, 20--. In previous chapters, gross wages were computed for each employee and using this data, FICA...
-
At a college, 30% of the students take Mathematics, 40% take History and 10% take both. If a student is chosen at random, find the following probabilities: (a) A student is taking Mathematics given...
-
Scores are obtained from the Law School Admission Test (LSAT) are normally distributed with a mean score of 550 and a standard deviation of 110. If a test score is selected at random, find the...
-
Sprint Manufacturing Company produces two products, X and Y. The following information is presented for both products: X Y Selling price per unit $30 $20 Variable cost per unit 20 5 Total fixed costs...
-
The CEO of Aaron's Auto Parts Supply would like to know whether his financial managers can pay off claims of short-term creditors without selling inventory. What ratio will help him understand the...
-
What might indicate that a journal is not credible?
-
In developing a budget, what type of expenditures should be budgeted before other line items are added?
-
1. Let G be a graph and let u and v be two distinct vertices of G. Assume that G has two different walks between u and v. Choose the correct answer between the following (10 marks) two. (a) G has a...
-
A fuel pump sends gasoline from a car's fuel tank to the engine at a rate of 5.88 10-2 kg/s. The density of the gasoline is 735 kg/m3, and the radius of the fuel line is 3.18 10-3 m. What is the...
-
Sunnyvale Corporation prepared the following balance sheet data for 2011 and 2010: Cash needed to purchase new equipment and to improve the companys working capital position was raised by borrowing...
-
To help you become familiar with the accounting standards, this case is designed to take you to the FASBs Web site and have you access various publications. Access the FASBs Web site at...
-
Distinguish between the functional and physical factors affecting the useful life of a tangible noncurrent operating asset.
-
Governor Sophia is in a quandary. She believes everyone should have access to health care and would like to support state policies that make care accessible and affordable. While she supported...
-
What are the benefits and drawbacks of having a health program that varies by state versus having one that is uniform across the country? Do you find that the positives of state flexibility outweigh...
-
Do you think it makes more sense to structure government healthcare programs as entitlements or block grants? What are the economic and healthcare risks and benefits of each approach? Does your...
Study smarter with the SolutionInn App