The following transactions are July activities of Bennett's Bowling, Incorporated. a. Bennett's collected $14,700 from customers...
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The following transactions are July activities of Bennett's Bowling, Incorporated. a. Bennett's collected $14,700 from customers for games played in July. b. Bennett's served customers food from its snack bar; received $7,800 in cash. c. Bennett's received $1,800 from customers who purchased merchandise in June from the pro shop on account. d. The men's and ladies' bowling leagues gave Bennett's a deposit of $3,100 for the upcoming fall season. e. Bennett's purchased $880 in food supplies for the snack bar; paid $800 in cash and owed the rest on account with the supplier. f. Bennett's paid $1,800 on the electricity bill for June (recorded as an expense in June). g. Bennett's paid $3,700 to employees for work in July. h. Bennett's purchased $2,010 in insurance for coverage from August 1 to November 1. i. Bennett's paid $1,700 to plumbers for repairing a broken pipe in the restrooms. j. Bennett's received the July electricity bill for $1,700 to be paid in August. Prepare an unadjusted income statement for Bennett's Bowling, Incorporated, for the month of July. BENNETT'S BOWLING, INCORPORATED Unadjusted Income Statement For the Month of July Revenues: Total revenues Expenses: Total expenses 0 The following transactions are July activities of Bennett's Bowling, Incorporated. a. Bennett's collected $14,700 from customers for games played in July. b. Bennett's served customers food from its snack bar; received $7,800 in cash. c. Bennett's received $1,800 from customers who purchased merchandise in June from the pro shop on account. d. The men's and ladies' bowling leagues gave Bennett's a deposit of $3,100 for the upcoming fall season. e. Bennett's purchased $880 in food supplies for the snack bar; paid $800 in cash and owed the rest on account with the supplier. f. Bennett's paid $1,800 on the electricity bill for June (recorded as an expense in June). g. Bennett's paid $3,700 to employees for work in July. h. Bennett's purchased $2,010 in insurance for coverage from August 1 to November 1. i. Bennett's paid $1,700 to plumbers for repairing a broken pipe in the restrooms. j. Bennett's received the July electricity bill for $1,700 to be paid in August. Prepare an unadjusted income statement for Bennett's Bowling, Incorporated, for the month of July. BENNETT'S BOWLING, INCORPORATED Unadjusted Income Statement For the Month of July Revenues: Total revenues Expenses: Total expenses 0
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Related Book For
Financial Accounting
ISBN: 9781264229734
11th Edition
Authors: Robert Libby, Patricia Libby, Frank Hodge
Posted Date:
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