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The Goldsboro Athletic Club presented the following accrual basis statements at the end of 2009: Comparative Balance Sheets Cash Dues Receivable Rent Receivable Accrued Interest
The Goldsboro Athletic Club presented the following accrual basis statements at the end of 2009: Comparative Balance Sheets Cash Dues Receivable Rent Receivable Accrued Interest Receivable Prepaid Rent Supplies Investments Furniture and Fixtures Accumulated Depreciation December 31 2009 20x8 $8,875 $1,600 2,300 1,800 850 990 225 400 900 2,335 370 300 2,000 5,375 5,600 3,650 (1,120) (450) $20,000 $16.000 Accounts Payable (supplies only) Rent Payable Deferred Rent Dues Received in Advance Unearned Interest Accrued General Expenses Notes Payable Members' Equity 3,400 1,770 820 500 550 1,260 1,300 10,400 $20,000 $7,100 700 1,025 425 150 1,350 500 4,750 $16.000 Supplemental Information: Rent revenue in 2009 $6,700 Cash paid for rent in 2009 4, 265 Dues revenue in 2009 8,850 Purchase of investments in 20x9 4,500 Gain on sale of investments in 20X9 1,120 Supplies expense in 20X9 1, 470 All purchases of supplies were made on account. Cash received for interest in 20x9 5, 675 Furniture and fixtures with an original cost of 1,000 and accumulated depreciation of 300 were sold for 900 in 20X9. Payments of 400 were made on notes payable in 20X9. There were no dividends or other distributions to members. The only change this year in Members' Equity is for closing the excess of accrual basis revenues over accrual basis expenses. What is cash received for rent in 20x9? B. $5,855 $6,635 $7,135 $7,545 None of the above. D. E. What is accrual basis rent expense in 20x9? A. B. C. $3,700 $4, 430 $4,500 $6,770 None of the above. D. What is cash received for dues in 20X9? A. B. C. D. $7,775 $8,425 $9, 775 $9,925 None of the above. What is cash received from sale investments in 20x9? A. B. C. D. E. $3,755 98, 295 $8,495 $8,995 None of the above. What is accrual basis interest revenue in 20x9? A. B. C. $4,300 $4,650 $5,100 $5,450 None of the above. D
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