the normal balance for a contra-asset account would be which of the following? a a credit 6. a debit c. sometimes a debit and sometimes a credit d. never a debit and never a credit Carlos's Dynamite Disco specializes in providing DJ services for birthdays, weddings, and special occasions. He books a birthday party for $3,000, to be held on October 22, 2020, and collects a $1,000 deposit on October 1". Assuming he made the correct entry on 10/1, what entry should he make on 10/22 after he completes the party and collects the cash balance owed to him? a. b. c. d. Debit: Service revenues $1,000, Debit Cash $2,000, and Credit: Unearned Revenues $3,000 Debit: Unearned revenues $1,000 and Credit: Revenues $1,000 Debit: Cash $2,000 and Credit: Revenues $2,000 Debit: Cash $2,000, Debit Uneamed Revenues $1,000 and Credit: Revenues $3,000. All but which of the following are organizations that influence current practice in the accounting profession today? a. FASB b. SEC GAAP PCAOB 5. Amanda's Fashions, LLC paid for a utility bill of $150 on 1/25/20 that had been previously and properly) accrued on 12/31/19 for utilities used in December. What journal entry was made (properly) on Amanda's Fashions, LLC's books on 12/31/19? a. Debit: Utilities Payable $150 Credit: Utilities Expense $150 b. Debit: Prepaid Utilities $150 and Credit: Cash $150 c. Debit: Utilities Expense $150 and Credit: Utilities Payable $150 d. Debit: Utilities Payable $150 and Credit: Cash $150 6. Johnny's Lawn Service camed $200,000 of service revenues for 2020. $190,000 was collected in cash and $10,000 remains in Accounts Receivable as of 12/31/20. S155,000 of expense was incurred during the year, with $140,000 of the expense was paid for with cash and $15,000 remains in Accounts Payable. Using accrual-basis accounting, calculate Johnny's Lawn Service net income for 2020: (a) $35,000 (b) $45,000 (c) $50,000 (d) $60,000