Question
Question 1: The following transactions are July activities of Noahs Tik Tok Service, which creates videos. Noah paid $982 to plumbers for repairing a broken
Question 1:
The following transactions are July activities of Noahs Tik Tok Service, which creates videos.
- Noah paid $982 to plumbers for repairing a broken pipe in the restrooms.
- Noah paid $801 for the June electricity bill and received the July bill for $624, which will be paid in August.
- Noah paid 705 to employees for work in June.
What are the total expenses Noah will recognize in July?
Question 2:
The following transactions are July activities of Emmas Tik Tok Service, which creates videos.
- Emmas collected $8,244 from credit customers for services related to videos created in June.
- Emmas billed a customer for $666 for a video made on the last day of July. The bill is to be paid in August.
- On July 1, a customer gave Emmas advance payments totaling $3,520 for the five months of work to be done equally staring in July
- Emmas received $333 from video created for customers in July.
What is the revenue Emma will recognize in July?
Question 3:
During its first month of operations, Ava Corporation provided $63,333 of services to their customers. Avas costs included rent of $22,595 and salaries and wages totaling $20,300. At the end of the month, the board of directors approved a dividend of $1,518. What is the total amount of expenses incurred by Ava Company during the month?
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