The following transactions are February activities of Swing Hard Incorporated, which offers indoor golfing lessons in the
Question:
Transcribed Image Text:
Activity Amount or Explanation a. Swing Hard collected $15.000 from customers for lesson b. Swing Hard sold a gift card for golf lessons for $150 cash c Swing Hard received $4000 from services provided on d. Swing Hard collected $2250 in advance payments for e. Swing Hard bills a customer $125 for services providec services given in February in Februany account to customers in Januany services to start in June 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: 57% (14 reviews)
Amount of Revenue Earned in February a 15000 b No revenue earned in Febr...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
Fundamentals Of Financial Accounting
ISBN: 9780073527109
3rd Edition
Authors: Fred Phillips, Robert Libby, Patricia A Libby
Question Posted:
Students also viewed these Accounting questions
-
The following transactions are February 2014 activities of Swing Hard Incorporated, which offers indoor golfing lessons in the western Canada. If revenue is to be recognized in February, indicate the...
-
The following transactions are February 2009 activities of Swing Hard, a sole proprietorship owned by Doris Heald. The business offers indoor golfing lessons. If an expense is to be recognized in...
-
The following transactions are July activities of Bills Extreme Bowling, Inc., which operates several bowling centers. If revenue is to be recognized in July, indicate the amount. If revenue is not...
-
What is the probability that the number X of successes in the personnel managers sample of 100 employees in question 10 will be 48 or more?
-
A capacitor is connected to a 12-V battery. If the plate separation is tripled and the capacitor remains connected to the battery, (a) By what factor does the charge on the capacitor change? (b) By...
-
Assign R or S configuration to each chirality center in prostaglandin E2 (Figure) the most abundant and biologically potent of mammalianprostaglandin RS .CO2H Arachidonic acid PGH2 H. RS RS " " ...
-
Golden State Warriors: One Game During a record breaking season the Golden State Warriors of the National Basketball Association (NBA) won 24 straight games to start the 2015-2016 season. Adam Pearce...
-
Why did Toyota wait so long to publically acknowledge and replace the faulty accelerator pedals? Toyota is an extremely successful automaker that has built a reputation for quality by fostering a...
-
X = 1.2 For I = 1 To 5 Step 2 X = X + X^2 Next I MsgBox("I " = & Str()) 11 MsgBox ("X = & Str (X)) What does the first MsgBox display?
-
The first quarter tax return needs to be filed for Prevosti Farms and Sugarhouse by April 15, 2019. For the purpose of the taxes, assume the second February payroll amounts were duplicated for the...
-
Given the transactions in M3- 6 and M3- 7 (including the examples), prepare an income statement for Bills Extreme Bowling, Inc., for the month ended July 31. (This income statement would be...
-
Greek Peak is a ski resort in upstate New York. The company sells lift tickets, ski lessons, and ski equipment. It operates several restaurants and rents townhouses to vacationing skiers. The...
-
Selected transactions during June between Salina Company and Brokaw Company are listed in Problem 5-6B. Instructions Journalize the entries to record the transaction for (1) Salinas Company and (2)...
-
A trader is looking for arbitrage opportunities in the Treasury bond futures market. What complications are created by the fact that the party with a short position can choose to deliver any bond...
-
What happened to the large investment banks following the 20078 crisis?
-
Explain whether principal is exchanged in (a) an interest rate swap and (b) a currency swap.
-
How many exchanges are usually made in a one-year OIS swap?
-
What is meant by the term agency costs? How did agency costs play a role in the financial crisis of 20078?
-
Marianas backyard measures 20 m by 30 m. She wants to put a flower garden in the middle of the yard, leaving a strip of grass of uniform width around the flower garden. Mariana must have 184 m 2 of...
-
If there is an unrealized holding gain on available-for-sale investments, it is reported as?
-
During 2013, Princeton Company acquired some of the 50,000 outstanding shares of the common stock of Cox Corporation as trading securities. The accounting period for both companies ends December 31....
-
Using the following categories, indicate the effects (direction and amount) of the transactions listed in MD-3. Use 1 for increase and 2 for decrease. In MD 3 July 2 Purchased 8,000 shares of Cox...
-
Rocktown Corporation bought 600 shares of General Eccentric stock on March 20, 2013, for its trading securities portfolio at $29 per share. Rocktown sold the stock at $33 per share on June 23, 2013....
-
Discuss the key features of the following associated with the financial service industry: Financial products and services of the organisation Financial agency agreements Financial industry codes of...
-
You are building an apartment complex with 80 three-bedroom units near the downtown office district. The designers estimate that there will be on average 3.5 occupants in each apartment. A. Calculate...
-
The field team sends an update to the project manager letting him know that there were 12 employees at the project site, there were no accidents this week and no issues to report, and that the team...
Study smarter with the SolutionInn App