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Required information [The following information applies to the questions displayed below.) NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $60 per keg: deposits are recorded in the Keg Deposits account. Required: a. Where on the balance sheet will the Keg Deposits account be found? Multiple Choice Keg deposits are a current liability on the balance sheet Required information The following information applies to the questions displayed below. NightWoundsTime Brewing Co. distributes its products in an aluminum keg, Customers are charged a deposit of $60 per keg, deposits are recorded in the Keg Deposits account b-1. Use the horizontal model to show the effect of giving a keg deposit refund to a customer for one keg. Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect.) Answer is complete and correct. Assets Balance Sheet Liabilities Keg deposits Stockholders Equity Cash Net Income Income Statement Revenues (60) - (80) Required information {The following information applies to the questions displayed below) NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $60 per keg: deposits are recorded in the Keg Deposits account b.2. Record the journal entry to show the effect of giving a keg doposit refund to a customer for one keg. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. General Journal No Event Debit Credit 1 1 60 Kog deposits Cash 60 Required information The following information applies to the questions displayed below.) NightWounds Time Brewing Co. distributes its products in an aluminum keg Customers are charged a deposit of $60 per keg, deposits are recorded in the Ke Deposits account, c.1. A kegune analyst who works for NightWoundsTime estimates that 200 kegs for which deposits were received during the year will never be returned. What accounting, if any, would be appropriate for the deposits associated with these kegs? Indicate the financial statement effect. (Enter decreases with a minus sign to indicate a negative financial statement effect) Answer is complete and correct. Atsett Balance sheet Liabitibes Ke deposits stockholders' Equity Net Income Income Statement Revenuen Keg deposits rovence 12.000 . (12.000) Required Information [The following information applies to the questions displayed below.) NightWoundsTime Brewing Co. distributes its products in an aluminum keg. Customers are charged a deposit of $60 per keg, deposits are recorded in the Keg Deposits account c-2. A keg use analyst who works for NightWoundsTime estimates that 200 kogs for which deposits were received during the year will never be returned. Record the accounting that would be appropriate for the deposits associates with these kegs? (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. No Event General Journal Debit Credit 1 1 12.000 Kog deposits Kog deposits revenue 12,000 Required Information The following information applies to the questions displayed below! NightWoundsTime Brewing Corbutes its products in an aluminum keg. Customers are charged a deposit of $60 per keg: deposits are recorded in the Reg Deposits account d. Use the horizontal model demonstrate accounting that would be appropriate for the cost of the legs that are purchased and used by NightWoundsTime Brewing Company, including how to account for unreturned kegs? Indicate the financial statement effect (Enter decreases with a minus sign to indicate a negative financial statement effect) Dance Shoot Bricomment Assets Stockholders Netcome Key pente Expenses . Key Expande Accumulated Deprecaton - Keg Expense Kegs Mounted Depreciation