Question
1. The following transactions are July activities of Joshs video service: -Josh collected $4,185 from customers for services related to videos created in July. -Josh
1. The following transactions are July activities of Joshs video service:
-Josh collected $4,185 from customers for services related to videos created in July.
-Josh billed a customer for $811 for a video made on the last day of July. The bill is to be paid in August.
-On July 1, a customer gave Josh advance payments totaling $3,382 for the four months of work to be done equally staring in July
-Josh received $894 from credit sales made to customers last month (in June).
By what amount did total assets increase during July?
2.
ABC Company had the following account balances. Accounts Payable $ 948 Accounts Receivable $ 1,694 Cash $ 4,736 Common Stock $ 1,374 Deferred Revenue $ 1,007 ABC Company was missing the account balance for retained earnings. What is ABC Company's balance in retained earnings? |
3.
During its first month of operations, ABC Company provided $96,229 of services to their customers. ABC Companys costs included rent of $18,632 and salaries and wages totaling $24,737. At the end of the month, the board of directors approved a dividend of $2,637. What is the Retained Earnings for ABC Company at the end of the month?
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4.
The following transactions are July activities of Josh's video service:
What are the total change to liabilities that Noah will recognize in July? |
5. The following transactions are July activities of Josh's video service:
- Josh collected $1,321 from credit customers for services related to videos created in June.
- Josh billed a customer for $849 for a video made on the last day of July. The bill is to be paid in August.
- On July 1, a customer gave Josh advance payments totaling $1,600 for the five months of work to be done equally staring in July
- Josh received $788 from video created for customers in July.
What is the revenue Josh will recognize in July?
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