Answer to requirement 3;
Accounts receivable and Service revenue
Welcome to MyLab Accounting! To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimize them in order to continue viewing your work space. Dove Sporting Goods Company reported the following at March 31, 2022, with amounts in thousands: (Click the icon to view the balance sheet.) Read the requirements. Underneath the problem you will see buttons to 'check' or 'clear your answers. (These will not appear when there are no inputs in the step, instead youll see the 'Continue' button to click on to move to the next portion of the exercise.) Use these carefully because 'clear' will delete all inputs in the question that haven' yet been graded. Check your answers only after entering all required inputs for that step. Buttons with the question number and the number of problems in the homework appear at the top of the screen. Use these buttons to move to other questions in the assignment. You will also see an Overview button that you can click at any time to see an Overview of how youre doing on the assignment. You can easily move back and forth between questions by clicking their name. Begin to work through Requirement 1. Click the first fill-in-the-blank and notice the dropdown list. The correct formula for this sitep is Current assetsiCument liabilites = Current ratio. To illustate how the table will be graded, select an incorrect answer (choose Total stockholders' equity) and select the 'Check Answer' buelin at the bottom of the screen to see how you did: Requirement 1. Compute Dove's current ratio. (Round the current ratio to two decimal places.) MyLab Accourting. Notice that you can move the popups and there are no inputs in the stpp, instead yourl see ear' will delete all inputs in thite question that havent yet been reen. Use these buttons to move to other quassions in the yourre doing on the assignment. You can easily move back Et formula for this step is Cument sssets Curmentliabiitias a s' equity) and select the 'Check Answer' button at the bottom of MyLab Accounting: Notice that you can move the popups and there are no inputs in the step, instead youll see ear' will delete all inputs in the question that havent yet been een. Use these buttons to move to other questions in the youre doing on the assignment. You can easily move back ot formula for this step is Current assetsicument labiliths = s' equity) and select the 'Check. Answer' buton at the boltom of Welcome to MyLab Accounting! To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimize them in order to continue viewing your work space, Dove Sporting Goods Company reported the following at March 31, 2022, with amounts in thousands: (Click the icon to view the balance sheet) Read the reguirements: Currentratio. To lilustate how the table will be graded, select an incorrect answer (choose Total stockholders' equity) and select the 'Check Answer' bution at the bettcm of the sereen to see how you did: Requirement 1. Compute Dove's current ratio. (Round the current ratio to two decimal places.) Notice that you are given a feedback message that points you toward incorrect answers. The foodback will not be specific encugh to answer the Guestion for you, but to point you to the first error that you have made in the probiem step. You shoud enter all of the inputs for that particular step bafore checking your answern. Generally you will get three attempts at each step before you will be graded, although instructors can specily those setings. After your initial attempt, if you have additional attempts available continue to work to find the correct answer clicking "Check Anowver afer each attempt unili your attempte are exhausted and MyLab Aocounting completes the question and moves you to the next part of the question. Welcome to MyLab Accountingl To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can mova the popups and minimize them in order to continue viewing your work spece. Dove Sporting Goods Company reported the following at March 31, 2022, with amounts in thousands: (Click the icon to view the balance sheet.) Read the requirements, the current ratio must be entered rounded to 2 decimal places per the instructions. If you round to something other than 2 decimals using the ecrect answer, the system will still mark the answer wrong. Compute Dove's current ratio, (Round the current ratio to two decimal places.) Atrer MyLab Accounting has graded your answers, you can see both correct and incorrect answers, Incorrect answers are indicated with a red thangle in the upper night comer. These cells will now show the correct answer. Hovering the mouse over the correct answer will show the incoerect answer ycu entered, MyLab Accounting populates the correct answer to prevent you from carrying wrong answers through a whole problem. Note that the purpose of the table below is to illustate how the correct answers will be displayed when incorrect responses are entered. You do not need to know how to correctly complete the table. E her anything in the cells beicw and check your answer three times to Illustrate: Welcome to MyLab Accounting! To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accourting. Notice that you can move the popups and minimize them in order to continue viewing your work space. Dove Sporting Goods Company reported the following at March 31, 2022, with amounts in thousands: (Click the icon to view the balance sheet.) Read the requirements. Data table ling. Netice that you can move the pepups and Welcome to MyLab Accountingl To begin, read the following problem statement and then click the icons to see a typical set of popup data in MyLab Accounting. Notice that you can move the popups and minimize them in order to continue viewing your work space. Dove Sporting Goods Company reported the following at March 31, 2022, with amounts in thousands: (Click the icon to view the balance sheet.) Read the requirements. accounts. Always refer to the instructions to see if a particular order is required, See the example below, for all journal entries debit accounts must always come before the credit accounts. The order of individual debit or credit accounts does not matter as long as all of the debit accounts appear before all of the credit acoounts. Requirement 3. Journalize the earning of service revenue: $51,000 on account and $36,000 in cash. (Record debits first, then credits. Explanaticns are not required.)
