Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

M MHE Reader qb Chart of Accounts x Connect X M MHE Reader x Connect X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fdcccd.bl... . . . Amazon.com - Onli.. Apple

image text in transcribed
M MHE Reader qb Chart of Accounts x Connect X M MHE Reader x Connect X X https://ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fdcccd.bl... . . . Amazon.com - Onli.. Apple Disney ESPN G Google P Priceline.com TripAdvisor Yahoo! G Google BUS-College-of-Bu.. clarissacollier64@y.. Other favorites Chapter 9 Comprehensive Project Part 9 i Saved Help Save & Exit Submit Check my work 4 Follow the steps shown on Pages 511 and 522 in Chapter 9, and complete each project requirement provided below. Part 4 of 8 P9.1.4 Adjusting Entry Unearned Revenue 2.5 Complete the following adjusting entry for Mookie The Beagle" Concierge. points On January 14, 2022, Angel prepaid $3,200 for pet care services to be provided each Friday for 8 weeks for her German Shepherd, Kuno. Mookie The Beagle" Concierge recorded the entire $3,200 as Sales. At the end of the accounting period on January 31, 3 weeks (01/14, 01/21, 01/28) of the pet care services had been provided to Kuno, so 5 weeks of services or $2,000 ($3,200/8 = $400 per week) had not been earned as of the end of January. Since $2,000 had not been earned, the $2,000 is a liability because Mookie The Book Beagle" Concierge has an obligation to provide the pet care service or return the $2,000 to the customer. So an adjusting entry is needed to bring accounts up to date at January 31. Print 1. Complete the following table. (Round your answer to 2 decimal places.) References Account Account Type Increase or Decrease? Debit or Credit? Amount Sales Income Decrease Debit $ 2,800.00 Unearned Revenue Liability Increase Credit $ 2,800.00 Mc Graw Type here to search w 8:07 PM 9/24/2020

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Intermediate Accounting Volume 1 Chapters 1 To 12

Authors: J. David Spiceland, James F. Sepe, Lawrence A. Tomassini, Mark W. Nelson

5th Edition

0073324655, 9780073324654

More Books

Students also viewed these Accounting questions

Question

Relax your shoulders

Answered: 1 week ago

Question

Keep your head straight on your shoulders

Answered: 1 week ago

Question

Be straight in the back without blowing out the chest

Answered: 1 week ago