Answer:
Explanation:
The journal entries are shown below:
a. Cash A/c Dr $1,239,000 (5,900 seasons × $210)
To Unearned basket ball tickets revenue $1,239,000
(Being the sale of the season tickets are recorded)
b. Unearned basket ball tickets revenue $103,250 ($1,239,000 ÷ 12)
To basket ball tickets revenue $103,250
(Being the revenue recognized)
Answer:
Journal entries to record the expenses incurred are given below.
Debit Factory Overhead Control Account $ 1300
Credit Utilities bills account $ 700
Credit Accumlated factory depreciation $ 400
Credit property tax payable $ 200
Journal entries to record the allocation of overhead at the predetermined rate of $1.50 per machine hour are given below.
Debit WiP process account $ 525
Credit Factory overhead applied account $ 525
(1.5 * 350 (machine hours))
Selena receives $43,300 from Douglas for her 30% stake in a partnership with $127,900 in net assets. After this transaction, the capital account of Douglas should have a account balance of $38,370.
Douglas's Capital account balance
= Net assets x30%
= $127,900 x 30%
= $31,875
Therefore, Douglas's capital account should have a credit balance of $38,370
A financial repository's account balance represents the amount of money there is at the end of the current accounting period. It is the sum net assets of the balance carried over from the previous month and the net difference between the credits and debits that have been recorded during any given accounting cycle.
The amount due or the net debt may be shown in an account balance. The former is frequently depicted in financial accounts that include net assets recurring bills, like those for utilities or gym memberships. The latter, on the other hand, is reflected in accounts with negative cash balances, such as bank overdrafts.
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Answer:it’s D
Explanation: Just answered it
