The following transactions are February 2014 activities of Swing Hard Incorporated, which offers indoor golfing lessons in
Question:
Transcribed Image Text:
Amount or Explanation Activity a. Swing Hard collected $15,000 from customers for lesson services given in February. b. Swing Hard sold a gift card for golf lessons for $150 cash in February. c. Swing Hard received $4,000 from services provided on account to customers in January. d. Swing Hard collected $2,250 in advance payments for services to start in June. e. Swing Hard bills a customer $125 for services provided between February 25 and February 28. The bill is to be paid in March.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 78% (14 reviews)
Amount of Revenue Earned in February a 15000 b No revenue earned in Febr...View the full answer
Answered By
BETHUEL RUTTO
Hi! I am a Journalism and Mass Communication graduate; I have written many academic essays, including argumentative essays, research papers, and literary analysis. I have also proofread and written reviews, summaries and analyses on already finished works. I am eager to continue writing!
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Fundamentals of Financial Accounting
ISBN: 978-1259103292
4th Canadian edition
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
Question Posted:
Students also viewed these Accounting questions
-
The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in Western Canada. If revenue is to be recognized in February, indicate the amount....
-
The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in Western Canada. If an expense is to be recognized in February, indicate the...
-
The following transactions are July 2014 activities of Craigs Bowling, Inc., which operates several bowling centers (for games and equipment sales). If revenue is to be recognized in July, indicate...
-
10 1 Journalize the following transactions for Bigelow Company for the month of October. 31 Oct Stockholders invest cash in the company in exchange for common stock. 5 Oct The company buys a delivery...
-
Two thin symmetric glass lenses, one biconvex and the other biconcave, are brought into contact to make a system with optical power Ф = 0.50 D. Newton's rings are observed in reflected light...
-
Why do regulators face a trade-off between competitiveness and the benefit of economies of scale in imperfectly competitive markets?
-
How can operations and maintenance capability be measured?
-
Understanding the management assertions related to a specific control is an important factor in preparing the tests of controls. Using the assertions provided below, select the management...
-
BY ARIF HASSAN AND THIVAGAR VELAYUTHAM, INTERNATIONAL ISLAMIC UNIVERSITY MALAYSIA Alpha Plantations Sdn Bhd is a palm oil plantation located in Malaysia. It consists of a palm oil estate and one palm...
-
Letang Company has three divisions (R, S, and T), organized as decentralized profit centers. Division R produces the basic chemical Ranbax (in multiples of 1,000 pounds) and transfers it to Divisions...
-
Given the transactions in M3-6 [including transaction (a)], prepare an income statement for Bill's Extreme Bowling, Inc., for the month ended July 31, 2014. (This income statement would be considered...
-
The following transactions are February 2014 activities of Swing Hard Incorporated, which offers indoor golfing lessons in the western Canada. If an expense is to be recognized in February, indicate...
-
I am writing this e-mail to inform you that your new account executive is Aubrey Lee. Your Task. Revise the above sentence to eliminate long lead-ins.
-
Julie is the owner / operator of a massage parlor in Carmel. Last year she earned $ 4 0 0 , 0 0 0 in total revenue. Her explicit costs were $ 2 0 0 , 0 0 0 . During the year she received offers to...
-
A company's debt-to-equity ratio is 4. If the company decides to finance a project with debt only, how much of theoccurredinterest expenses will be used to calculate interest tax shield? ( fill in a...
-
How do advanced spectroscopic techniques such as NMR spectroscopy, FTIR spectroscopy, and X-ray diffraction enable the elucidation of molecular-level interactions and structural changes in complex...
-
A) Alex Inc. manufactures two products: Car Wheels and Truck Wheels. To determine the amount of overhead to assign to each product line, the controller, Robert Hermann has developed the following...
-
How does the interplay of thermodynamic principles and transport phenomena govern the behavior of complex multiphase systems encountered in industrial chemical processes, and how can advanced...
-
1. How much did The Home Depots sales revenue increase or decrease in the year ended January 29, 2017? a. Decreased $6,076 (million) b. Decreased $948 (million) c. Increased $6,076 (million) d....
-
How do the principles of (a) Physical controls and (b) Documentation controls apply to cash disbursements?
-
Avery?s Rentals, Inc. and Rent-A-Matic, Inc. are two publicly traded rental companies. They reported the following in their 2017 financial statements (in millions of dollars, except per-share amounts...
-
Two magazine companies reported the following in their 2017 financial statements (in thousands of dollars, except earnings per share amounts and share prices): Required: 1. Compute the 2017 ROE for...
-
Two music companies reported the following in their 2017 financial statements (in thousands of dollars, except earnings per share amounts and share prices): Required: 1. Compute the 2017 ROE for each...
-
Using Fourier Transforms, solve the following integral Equation for ((t) f (t) - ( ( ( t -u) ue - 2 u H (u) du = foo_flt -4t e H(t)
-
Q1: what is the net operating income under the variable and absorption cost system. A: ACER company Product sales: 1,000 units at $10 each Variable manufacturing costs: $5.50 per unit Fixed...
-
Solve for 2 and graph the solution on the number line below. 245x+9 or 5x +9 69
Study smarter with the SolutionInn App